Lula and Camilo Santana announce “Desenrola da Educação” to renegotiate Fies debts

President Luiz Inácio Lula da Silva (PT) and the Minister of Education, Camilo Santana, launched this Monday (6) the “Desenrola da Educação” to renegotiate student debts with the Student Financing Fund (Fies). Starting this Tuesday (7), Caixa Econômica Federal and Banco do Brasil will begin to renegotiate these debts.

“It unfolds from education. Starting tomorrow, Caixa and Banco do Brasil branches will be able to receive anyone who wants to renegotiate Fies debts. This policy can benefit 1.2 million people, renegotiating up to 99% of the debt value”, said Lula in the social network. Last week, the president sanctioned a law authorizing renegotiations. According to Santana, more than 1.2 million people will be able to use the initiative to negotiate debts.

“It means R$54 billion in debts of these Brazilian men and women who often have their name compromised, their name dirty, as they say, at Serasa, and who will have the opportunity to renegotiate their debts. In fact, with very favorable conditions, reaching up to 99% of the principal and 100% of the interest and fine, that is, the person can pay 1% of the debt depending on the condition they are in”, said the minister after a meeting with Lula, at the Planalto Palace.

“Both Caixa and Banco do Brasil will provide services via 0800, by telephone as well. And they are preparing the system so that we can operationalize renegotiations starting this month,” he added. In addition to Santana, representatives from Caixa, BB and the National Education Development Fund (FNDE), which operates Fies, also participated in the meeting.

According to the minister, last Friday (2), the Fies management committee met and approved a resolution with the conditions for renegotiations. The document will be published this Monday in the Official Gazette of the Union, informed the Brazil Agency. The law created more favorable repayment conditions for students with Fies contracts signed until the end of 2017 and with outstanding and unpaid debts on June 30, 2023. The Minister of Education also stated that, even those who are up to date with their accounts with Fies you will have some advantages for paying the principal debt.

Who can renegotiate Fies debts?

According to the Ministry of Education (MEC), the beneficiary student who has overdue debts may settle them under the following terms:

• Students with overdue and unpaid debts for more than 90 days on June 30, 2023, with a discount of up to 100% on charges (interest and fines for late payment) and 12% on the outstanding financed amount, for payment in cash ; or installments in up to 150 monthly and successive installments of the outstanding financed amount, with a 100% discount on the charges, maintaining the other conditions of the contract (that is, the guarantee conditions and any interest rates of the contract are maintained);
• Students with overdue and unpaid debts for more than 360 days on June 30, 2023, who are registered in the Single Registry or who have been beneficiaries of Emergency Aid 2021, with a discount of up to 99% of the consolidated value of the debt, including, for through full settlement of the outstanding balance in up to 15 successive monthly installments;
• Students with debts due and unpaid for more than 360 days on June 30, 2023, which do not fit into the hypothesis provided for in the previous item, with a discount of up to 77% of the consolidated value of the debt, including, through the full settlement of the outstanding balance in up to 15 successive monthly installments.

The law also established a contribution ceiling to the Student Financing Fund Guarantee Fund (FG-Fies), of 27.5%, referring to contributions on the financial obligations of universities that voluntarily join the program, after the fifth year of your membership.