FINANCIAL SUSTAINABILITY AND DEBT RENEGOTIATION IN FIES: CHALLENGES AND PERSPECTIVES FOR HIGHER EDUCATION IN BRAZIL

Abstract

This article addresses the financial sustainability of the Student Financing Fund (FIES), one of the main mechanisms for access to higher education in Brazil. The study analyzes the economic and administrative challenges that the program faces, focusing on the high delinquency and fiscal consequences for the federal government. Based on a critical review of the literature and data analysis, the paper explores the reforms implemented in recent years and discusses possible alternatives to ensure the financial viability of FIES in the long term. Among the proposals presented, the adoption of income-contingent payment mechanisms, the expansion of partnerships with the private sector and the improvement of student credit management policies stand out. The article concludes that, although FIES has been essential for the democratization of access to higher education, its sustainability depends on a reformulation that balances social and financial interests