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Desenrola Brasil: A government effort to restructure debts
The Lula government introduced Desenrola Brasil, a program aimed at facilitating the restructuring of Brazilians’ debts, with the intention of easing their financial situations. However, uncertainty remains: can debtors of the Student Financing Fund (Fies) benefit from this initiative?
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Understand the Program
Desenrola Brasil is a government project focused on debt restructuring. It is intended that individuals with bank debts of up to R$ 100 will be able to clear their names, although the debt must be renegotiated with the banks.
The program unfolds in two phases. The first is underway, and the second begins in September.
Who is eligible for Desenrola Brasil?
Various groups are eligible for Desenrola Brasil, including:
- Debtors with debts of up to R$ 100, who will be able to clear their names this week;
- Individuals in group 1, with an income of up to two minimum wages and debts of up to R$ 5,000, who will access a digital platform in September;
- Tier 2, covering Brazilians with an income of up to R$20,000 and bank debts, who will have the opportunity to renegotiate their debts under better conditions this week.
Even so, an important question remains: can people indebted through Fies take advantage of this program?
Read also: Desenrola: Program Launch Offers Up to 96% Reduction on Debts
Desenrola Fies: The Controversy
The Ministry of Finance states that Fies obligations cannot be renegotiated through Desenrola Brasil. According to a statement sent to Globo, this is because “FIES debts are not eligible for renegotiation through the Desenrola Program, Tiers 1 and 2, as determined by Provisional Measure 1,176 of June 5, 2023, and Normative Ordinance MF No. 634 of June 27, 2023”.
This is because Desenrola aims to encourage the restructuring of debts with fewer guarantees or incentives, “as they face more obstacles to negotiations”. Therefore, policies already supported with public funds, such as Fies, do not fall under the program.
What is Fies?
Fies is a program of the Ministry of Education that finances higher education for students enrolled in non-free institutions. Therefore, many students and former students have accumulated debts through this program.
The exclusion of Fies from Desenrola Brasil
The absence of Fies from Desenrola Brasil has generated intense debate. Many students and former students indebted through Fies see Desenrola Brasil as a chance to restructure their debts and improve their financial history.
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However, the government’s decision not to incorporate Fies debts into the program has received criticism. Many argue that students, like other debtors, face challenges in settling their obligations and should therefore be included in the program.
Desenrola Brasil has emerged as an important initiative to help Brazilians restructure their debts and clear their names. However, the exclusion of Fies debts from the program has caused controversy and raised questions about the program’s scope and effectiveness.
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For now, those indebted through Fies will need to seek other ways to restructure their debts. However, there remains hope that future editions of the program may include this audience as well.
