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Agricultural Bank Grants Huge Loans to Freshmen
The Agricultural Bank of China (ABC) announced today that its has granted loans of up to 112 million yuan to aid more than 24,000 students to pay for their higher education.
The loan, dubbed "golden key financial aid to freshmen," averages at 4,569 yuan per student.
A spokesman for the ABC said that the bank initiated this new credit business on July 20 to support the development of the country's education and help this year's freshmen, especially those with economic difficulties, to pay their tuition as well as living and traveling fees.
The student loans has not only satisfied students' urgent demands, but also lowered the bank's credit risks, achieving fairly good results.
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