Legal basis: Regulations on the Administration of National Student Loans
Article 4 In order to ensure the smooth implementation of the national student loan system, the Ministry of Education, the Ministry of Finance, the People's Bank of China and the Industrial and Commercial Bank of China form an inter-ministerial coordination group for national student loans (hereinafter referred to as the inter-ministerial coordination group). The Ministry of Education has established the National Student Loan Management Center as the daily office of the inter-ministerial coordination group. All provinces, autonomous regions and municipalities directly under the Central Government should set up corresponding coordination bodies and management centers.
Article 5 The inter-ministerial coordination group is mainly responsible for coordinating the relationship between education, finance, banking and other departments and schools, formulating the national student loan policy, and determining the annual national student loan guiding plan for schools affiliated to the central ministries and commissions. Among them, the Ministry of Education is mainly responsible for studying relevant policies on how to use student loans in conjunction with relevant departments according to the development of national education; The Ministry of Finance is mainly responsible for raising and allocating discount funds for national student loans of schools affiliated to the central ministries and commissions (including repayment funds for poor students' loans), and supervising the use of discount funds; The People's Bank of China is mainly responsible for determining the national student loan handling bank according to the relevant national policies, approving relevant measures and supervising the loan implementation; The handling bank is responsible for the approval, issuance and recovery of loans.