The four departments issued a notice to ensure that the student financial aid policy is in place.

The Ministry of Finance, Ministry of Education, People’s Bank of China and China Banking Regulatory Commission recently issued a notice to further strengthen and standardize the funding work of higher education students (including full-time ordinary junior college students, graduate students and preparatory students), ensure that the student financial aid policy is in place.

The “notice on further implementing the subsidy policy for higher education students” issued by the four departments clearly further improves the subsidy policy for higher education students. First of all, make sure that the postgraduate award policy does not leave a dead end. Graduate Training units such as scientific research institutes, party schools, administrative colleges and accounting colleges should fully implement the postgraduate award and assistance policies to ensure that qualified graduate students can enjoy corresponding subsidies and leave no dead spots. The required funds should be solved in accordance with current regulations and channels. Training units such as scientific research institutes should make budgets in accordance with budget management procedures, and make overall use of funds such as business income and social donations to plus-sized financial aid to family economy difficulty student.

Secondly, do a good job in funding preparatory students. Preparatory students can enjoy the national grants and national student loan policies at the corresponding education stage according to regulations. The funds needed for state grants, discount interest on national student loans and risk compensation shall be solved according to the corresponding measures for raising funds in the education stage.

Thirdly, promote the full coverage of national student loans. Further expand the coverage of national student loan business, realize the full coverage of universities, scientific research institutes, party schools, administrative colleges, accounting colleges and other training units, and realize the full coverage of full-time ordinary college students, graduate students and preparatory students. Scientific research institutes, party schools, administrative colleges, accounting colleges and other training units that have not yet started the national student loan business have been fully established since the fall semester of 2017, full-time students with financial difficulties in their families can choose to apply for national student loan or student credit loan on campus according to the actual situation.

Fourth, improve policies such as compensation and loan compensation for tuition fees for grassroots employment. Provinces that have not yet introduced the compensation policy for Tuition compensation loans for college graduates to go to the grassroots should issue relevant policies before April 30, 2017. Graduates who are not in the same province as the source of students, the location of colleges and universities, and the location of employment shall be compensated by Tuition compensation loans in the region where employment is located according to the principle of “who uses people and who supports them.

In addition, implement the equal subsidy policy for private colleges and universities. Private college students and public college students enjoy the national subsidy policies such as student loans, awards and grants in accordance with regulations. All regions should establish and perfect the support system of student loan business of private colleges and universities, and increase the proportion of private colleges and universities receiving financial aid family economy difficulty student.

The four departments also demanded to further improve the funding accuracy, including strengthening the identification of family economy difficulty student, plus-sized the funding of family economy difficulty student such as filing cards, optimizing the quota and fund allocation mechanism of national awards and grants, improve supporting policies and measures in schools, etc. (Reporter Zeng Jinhua)

Author: Zeng Jinhua (source: Economic Daily)

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Ministry of Finance, Ministry of Education, People’s Bank of China and China Banking Regulatory Commission recently issued a notice to further strengthen and standardize the funding work of higher education students (including full-time ordinary junior college students, graduate students and preparatory students), ensure that the student financial aid policy is in place. Four