Because the banking industry is competitive in Taiwan, there are hundreds of credit cards out there with various benefits. You should get a credit card! Here is why:

1. Cash back rebates: most cards in Taiwan offer 1-3% cash back on every transaction depending on the card. This is money in your pocket if you can meet the monthly payments. This also means you can use your Taiwan credit card to buy stuff from your home country and get cash back that makes up for forex fees, meaning you do not have to waste your home currency. Do not buy things that you cannot afford, because the interest on credit card payments is really ridiculously high.  
2. You can build credit with your bank (if you are thinking of taking out a loan with them)
3. Most credit cards in Taiwan automatically have traveler's insurance covered for flights you purchase with the card (you may need to let the credit card company know in advance)
4. Most credit cards offer gifts if you spend over a certain amount. For instance I got a free waffle maker and duffle bag.
5. Many cards offer free roadside assistance/tow truck if your car breaks down.
6. Many cards offer free airport parking or discounted taxi trips to the airport. This alone has saved me tons of time and money.

1. A student who is currently studying at a public or private university, college, senior high school, or continuation school that is registered with competent authority, and has formal student status and fixed time period of study.
2. The total yearly family incomes earned by the student and other family members whose income should be assessed as provided by the Ministry of Education meet the criteria for lower income family (the criteria are promulgated by the Ministry of Education on year-to-year basis; the criteria for 2002 academic year is NT$1,140,000); or if not meet the criteria for lower income family, but his/her family has two or more children studying at senior high school or higher.
3. The student, his/her statutory agent, spouse, and guarantor should hold nationality of Republic of China, and have household registration. If the guarantor is his/her parent, only one parent is required to have nationality of Republic of China and household registration, but both parents should have completed their obligation as taxpayers.

1. Determination of repayment time:
   1. One who advances to higher school in Taiwan may make repayment after the final study phase is completed.
   2. One who enters army may make repayment after the military service is completed.
   3. One who participates in the education practice may make repayment after the practice period is completed.
   4. One who is withdrawn from or suspends his/her study should make repayment after such withdrawal or suspension.
   5. One who studies or resides abroad should make repayment at lump sum before going abroad.
2. Methods of repayment:
   1. One who falls in the circumstance of any of the above subparagraphs 1 to 4, should repay the principal and accrued interests on month-to-month basis by installment of annuity method, beginning from one year after the end of the said fact.
   2. Repayment period for the loan for one academic year is one year, and so on (e.g. if the student borrows for two academic years, the loan should be repaid in 24 installments). The interests accrued during the repayment period shall be paid by the student.
3. Calculation of interests:
   1. For those meet the criteria for lower income family, the interests accrued before the date one year after the borrowers complete their current education phase (or complete their compulsory military service or education practice) will be paid in full from the budget of the competent education authority; interests accrued after the above said date shall be paid by the borrowers at the floating interest rate determined via negotiation between the Ministry of Education and the bank that is effective when starting to repay the loan.
   2. For borrowers who do not meet the criteria for lower income family but their families have two or more children that are studying at senior high school of higher, shall pay the interests at the floating interest rate determined via negotiation between the Ministry of Education and the bank, at the first business day of each month beginning from the next moth after the fund appropriation day of this bank.
4. Payment method: To be paid at any branch of this bank.
   

If there are any changes in status of students who have applied for this loan after they complete various study phases, the students should actively notify this bank together with relative certificates (student certificates of current further study; military service certificate, or teacher practice certificate, which should bear Id. card numbers) immediately after the occurrence of the fact. [Remark: If students who have borrowed before the first semester of 2001 academic year (inclusive) have any of the above circumstances, they should further fill in one application form for deferred repayment (for method of downloading the said application form, please refer to Question 4).

1. ID. Cards and seals (personal signature is acceptable) of both the student and the guarantor.
2. Extract of household registration in recent three months (includes the student, his/her parents or guardians, and co-guarantor; if they are living in different households, each of their extract of household should be attached).
3. Student certificate (admission notice for new students) and notice of registration fee.

If applied for e-bank business with this bank, you can make inquiry via Internet, or call our branch that is located at the place near your school to make inquiry by telephone.

1. If unmarried, it refers to incomes earned by the borrower and his/her parents.
2. If married, it refers to incomes earned by the borrower and his/her spouse.

The application for student loan and the extension of the loan can be made only if the borrower continues to study at a higher school in Taiwan. Studying abroad is beyond the meaning of studying at a higher school in Taiwan, therefore, the duration of the loan cannot be extended, and the loan should be repaid at lump sum before going abroad.

1. Article 97 of the Civil Code provides: "If a person whose act capacity is limited enters into a contract without permission of his/her statutory agent, the contract is effective only upon ratification by the statutory agent". Article 1089 also provides: "The right and obligation of a minor child shall be exercised and performed by both of his/her parents, unless it is otherwise provided for by law". Therefore, for the student loan applied by a minor student, both of his/her parents must personally come to the bank for the procedure of examining co-guarantors. If any of the parents is not available to personally appear at the bank to sign on the IOU, he/she may issue a Power of Attorney together with a certificate of seal specimen to authorize another to act on his/her behalf.
2. The qualifications of co-guarantors for student loan applied for an adult student are: one who is adult and has proper and a stable job (a salary statement must be brought with him/her at the time of examining co-guarantors), and has been approved by this bank.

According to the precedent #1973-tai-shang-tzu 415 of supreme court: the incapability of either parent to exercise the right of minor child, refers to incapability under law (e.g. suspension of parent right is announced), and incapability in fact (e.g. long-term imprisonment is implemented at jail, mental disorder, serious illness, survival is known etc.), Difficulty to exercise (e.g. no available time to teach the child due to job; need to hire another to take care of the child because the child is still young etc) is not the so called incapability to exercise.

According to Article 1094 of the Civil Code, the guardians are determined by the following orders:

1. Grandparents who are living together with the minor.
2. Elder brothers/sisters who are living together with the minor.
3. Grandparents who are not living together with the minor.

1. For minor students:
   1. In principle, the parents (statutory agents) are co-guarantors.
   2. Exceptional cases:
      1. If either parent is not available to appear personally for reasons, he/she may issue a power of attorney together with a certificate of seal specimen to authorize another to act on his/her behalf. Our diplomatic institute in that country, if issued in a foreign country, should authenticate the said power of attorney.
      2. In case the parents divorced before September 26, 1996, the parent as specified shall exercise the parental right in the guardianship agreement or the father if no guardianship agreement was made. In case the parents divorced after September 27, 1996, the parent as specified shall exercise the parental right in the guardianship agreement or both parents if no guardianship agreement was made.
      3. If either parent is imprisoned for a long term, or is not available to appear personally due to serious illness, the other parent may exercise the parental right alone.
      4. Illegitimate child: The breeding mother shall be the statutory agent and co-guarantor. If the natural father acknowledges the child, the parental right shall be exercised according to the agreement of both parents, or the person determined by the court ex officio or upon request of either party or other interested person, in case there is no such agreement or the agreement is not reached.
      5. When whereabouts of either parent are unknown, and the missing case has been reported to the police institute, and such parent cannot be found, if the fact has been registered in the household registration, the other parent may exercise the parental right alone.
      6. When either parent or the student applies for protective order under Family Violence Prevention Law, if the protective order provides "provisional guardianship order (order the injuring parent to deliver the child to you, so that you have provisional guardianship over the minor child)", during the period of suspension of right, the parent whose right is not suspended may exercise the parental right. If no suspension of right is provided, the victim of the violence or the child may apply to the court, where the residence of the minor child is located, to change the parental right holder.
      7. Either parent is a foreigner: According to provision 7 of the student loan, all of the student, statutory agent, and co-guarantor should hold nationality of Republic of China, and have household registration. However, if the guarantor is the parent, only one parent is required to have nationality of Republic of China and household registration, but both parents should have completed their obligation as taxpayers. i.e. either parent should have nationality of Republic of China. The other parent who does not hold nationality of Republic of China, but has completed his/her obligation as a taxpayer, is exempted from provision that the co-guarantor should have nationality of Republic of China and have household registration.
2. For adults (who have reached twenty years of age, or who have not reached twenty years of age but married): There will be no question about a statutory agent. Basically, either parent of the spouse may act as the guarantor. If another appropriate adult guarantor is employed, he/she must attach his/her financial ability certificate or employment certificate or withholding tax payment certificate.
   

Please go to our website (www.bot.com.tw), then clip " convenience service", clip "downloading", and clip "various kinds of student loan in Bank of Taiwan" to download the application forms.

Apply for notarization to the local notary public office, and then mail the original to relatives or friends in Taiwan. The copy will be mailed to Straits Exchange Foundation by the local notary public office (you may request the local provincial association of notary public to mail the copy to Straits Exchange Foundation as soon as possible, in case of emergency). The said relative of friends in Taiwan should bring the original to Straits Exchange Foundation for authentication procedure, after Straits Exchange Foundation receives the copy.