(1) National Scholarship
The central government funded the establishment of national scholarships in institutions of higher learning to reward outstanding full-time undergraduates (including higher vocational colleges and second bachelor's degrees) for more than two years. The national scholarship awards 50,000 students every year, and each student is 8,000 yuan per year. No matter whether the family economy is difficult or not, students can get national scholarships as long as they meet the prescribed conditions. In the same academic year, students from poor families who receive national scholarships can apply for and receive national grants at the same time, but they cannot receive national inspirational scholarships at the same time. Students majoring in normal universities directly under the Ministry of Education who try out free education can also get national scholarships if they meet the prescribed conditions.
(2) National Inspirational Scholarship
The central and local governments jointly funded the establishment of a national inspirational scholarship to reward full-time college students (including higher vocational and second bachelor's degrees) who are above Grade Two, excellent in academic performance and poor in family finances. The national inspirational scholarship covers an average of about 3% of the total number of full-time college students (including higher vocational and second bachelor's degrees) in China, and each student is 5000 yuan per year. In the same academic year, students who apply for national inspirational scholarships can apply for and receive national grants at the same time, but they cannot get national scholarships at the same time. Students majoring in normal universities directly under the Ministry of Education who are trying out free education will no longer receive national inspirational scholarships at the same time.
(3) State subsidies
The central and local governments jointly funded the establishment of state grants for colleges and universities, mainly subsidizing the living expenses of full-time college students (including higher vocational colleges and second bachelor's degrees) with financial difficulties. State grants account for about 20% of the total number of students in full-time colleges (including higher vocational colleges and second bachelor's degrees). The national average is 3000 yuan per student per year. In the same academic year, students who apply for and receive state grants can apply for and receive state scholarships or state inspirational scholarships at the same time. Students majoring in normal education directly under the Ministry of Education who are trying out free education will no longer receive state grants at the same time.
(4) National student loans
The national student loan is a credit student loan led by the government and provided by financial institutions to students with financial difficulties in colleges and universities to help solve the study and living expenses during school. The national student loan interest rate shall be based on the benchmark interest rate of the same grade in the same period announced by the People's Bank of China, and shall not rise. The national student loan interest of the loan students during their school days is paid by the finance, and the interest after graduation is paid in full by the borrower. In order to encourage financial institutions to undertake national student loans and establish a loan risk sharing mechanism, finance (universities) will give certain risk compensation to the handling banks. The national student loan is a credit loan. Students do not need to apply for loan guarantee or mortgage, but they must promise to repay on time and bear relevant legal responsibilities.
2. According to the place and workflow of students' application, the national student loan can be divided into two modes: the national student loan in the school and the credit student loan in the student's place of origin.
(1) National Student Loan in School:
Full-time college students (including vocational college students), second-degree students and graduate students with financial difficulties can apply for national student loans from the handling bank through the Student Financial Assistance Office of our school. In principle, the maximum application amount of each student per academic year does not exceed 6000 yuan. According to the employment and income after graduation, students choose the time to start repaying the principal within 1-2 years after graduation, and pay off the loan principal and interest within 6 years.
Student-origin credit student loan:
Full-time junior college students (including vocational college students), second bachelor's degree students and graduate students with financial difficulties apply for loans from the student financial assistance management institutions in the counties (cities, districts) where their household registration is located (some areas directly apply to relevant financial institutions). The loan amount applied by the borrower for each academic year shall not exceed 6,000 yuan in principle. In principle, the term of student-origin credit student loan is determined according to the full-time undergraduate academic system plus 10 years, and the longest is no more than 14 years. Among them, students are determined according to the remaining years of study plus 10 years. For those who have studied for more than 4 years or continue to study for a postgraduate degree or a second bachelor's degree, the repayment period after graduation will be shortened accordingly. There is a grace period for students during school and two years after graduation. After the grace period is over, students and their parents (or other legal guardians) will repay the loan principal and interest in installments according to the loan contract.