The specific contents of the meeting are as follows:
The meeting pointed out that, according to the deployment of the State Council, perfecting the national student loan policy and helping poor college students complete their studies can promote education equity, provide more development opportunities for poor students and train more talents for the country. The meeting decided that, first, the interest on student loans for college students during their school days should be fully subsidized by the government. If they continue to study for a degree or drop out of school due to illness during the repayment period after graduation, they can also apply for a discount. The second is to extend the longest loan period from the original 10 years and 14 years to 20 years. Extend the grace period for repayment of principal from 2 years to 3 years, and only need to repay interest, without repayment of principal. At the same time, simplify the application procedures. The third is to establish a repayment assistance mechanism. Students who have lost their ability to work due to illness or major family changes may apply for compensation for the principal and interest that should be repaid. For those who are employed in grassroots units in hard and remote areas, the compensation funds shall be borne by the local provincial finance in principle. Finance at all levels should fully arrange the national student loan discount and risk compensation in the annual budget to help poor students solve their worries.
Students who want to study in-service graduate students don't have to feel pressure because they have to repay their undergraduate loans. It is their best welfare and investment to study with confidence and boldness.
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