More Loans For Needy College Students

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Last updated at: (Beijing Time) Sunday, February 10, 2002

More Loans For Needy College Students

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Chinese Vice-Premier Li Lanqing has ordered the country's state-owned banks, the Ministry of Education, the Ministry of Finance and universities to issue more subsidized loans to needy university students.

In a document on the issuance of subsidized loans for students, the vice-premier has said that this is an important way in which the country can help needy college students to be able toafford college life and to become one of the graduates the countryneeds so badly.

Progress has been made since China started providing loans to college students in 1999 but the supply cannot meet the demand, the vice-premier said.

He urged the country's central bank and the education and finance ministries to explore ways to ensure all needy students get their fair share of the loans.

In a national televideo conference held Saturday, leading officials in charge of the central bank and the ministries promised to offer more loans to needy college students.

China has granted 2.43 billion yuan (nearly 300 million U.S. dollars) in contractual loans for 272,000 college students since 1999.

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