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University students take loans without security for tuition in Chongqing
08-22-2007

(CQNEWS) University students in Chongqing Municipality can take a loan without security from banks for tuition from yesterday on as long as their parents or guardians will co-borrow money.

The central government has carried out the new student loan policy in the Chongqing branch of China Development Bank as well as in Jiangsu, Hubei, Shaanxi and Gansu provinces since this year to guarantee that more poor students will be granted a loan.

Students from poor rural families, those living on the urban minimal income subsidy, orphans and so on will get a loan of 6,000 yuan RMB at most each year, and he or she only needs to return the loan in 14 years.

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