Student credit loans now cover all colleges in China

The local management system of student credit loans was expanded to include all public and private full-time regular undergraduate institutions and higher vocational colleges, including independent institutes, starting in 2010. This indicates that all qualified college students are now able to apply for local student credit loans, officials from the Ministry of Education announced on Aug. 25.

The so-called student origin credit loan refers to the credit loans offered to qualified college freshmen and college students with financial difficulties by financial institutions such as China Development Bank.

Students and their parents or legal guardians can apply for the loans in the Student Financial Aid Management Center of the students' census-registered seats to help them with financial difficulties in paying tuition and accommodation fees during their time at college.

The student origin credit loan is a kind of loan without a surety and mortgage. As the students and their parents or legal guardians are joint borrowers, they need to share the responsibility of repaying the loans.

By People's Daily Online