2. Loan students must apply for new student loans in the student loan system of China Development Bank before 10 every month, or apply to the teacher of the local county student aid center, and deposit the loan in full into the corresponding repayment account before 15 of that month, and the bank will deduct the money on the 20th of each month;
3. If Alipay is used for repayment, Alipay will deduct the corresponding amount from the student's personal Alipay account on the prepayment deduction date and send it back to the borrower by SMS or email;
4. The borrower can log on to the online system in advance to check the repayment results. If the prepayment fails, the applicant must resubmit the application within the specified time of the next prepayment.
What is a student loan?
The national student loan is an important measure taken by the CPC Central Committee and the State Council under the conditions of socialist market economy to improve the financial aid policy system of colleges and universities in China and increase the financial aid for poor students in colleges and universities. Loan students apply for loans from the bank through the school to make up for the lack of tuition, accommodation and living expenses during their studies and repay them in installments after graduation.