The China Banking Regulatory Commission says China has told thee
banks to boost loans to poor students struggling to pay their way
through university or face the consequences.
China has told thee banks to boost loans to poor students
struggling to pay their way through university or face the
consequences.
The China Banking Regulatory Commission says banks must treat
student loans as an important part of their work to guarantee the
entry into universities by poor students.
It says commercial banks that fail to grant student loans in
line with state policies and regulations will be investigated and
prosecuted.
Some banks have backed off from the loans scheme, in which the
government pays half the interest, because of rising repayment
defaults caused by graduates failing to find jobs.
China launched subsidised loans for university students in 1999
as the cost of higher education began to soar, after the government
ended full subsidies.
(CRI August 31, 2004)