As of now, the student loan for students from our country has accumulated a total of 620.7 billion yuan, helping 68.21 million students.
Reporters learned from the Ministry of Education that this year, the establishment of credit-based student loans in their hometowns has entered its 20th year. Over the past 20 years, China's credit-based student loans in their hometowns have issued a total of 620.7 billion yuan in loans and supported 68.21 million students. From the pilot program in five provinces and cities of Gansu, Jiangsu, Hubei, Chongqing, and Shaanxi in 2007, to now covering the whole country, the Ministry of Education, together with the Ministry of Finance, the China Banking and Insurance Regulatory Commission, the People's Bank of China, and other departments, continues to improve national student loan policies by increasing the loan amount, expanding the usage scope, reducing the loan interest rates, and offering warm services such as full interest subsidy while in school, extending repayment periods, and credit repair. These measures aim to alleviate the worries of economically disadvantaged students and allow all students to afford education as long as they pass the entrance exam.
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