No students were forced to drop out of university this year for a lack of finance, after new measures were implemented by Shenzhen's higher education institutions, the Shenzhen Economic Daily reported Wednesday.
Students from 208 poor families entered Shenzhen University without having to pay tuition fees. Most were eligible to apply for a bank loan.
A new national loan program was implemented throughout the country for financially strapped college students in the new academic year. Under the new program, students will have two years to repay the bank loan after graduating.
The Ministry of Finance is subsidizing the interest on loans.
In the past, there was no interest subsidization and students who borrowed from banks had to repay the debt within 90 days of graduating.
Shenzhen University and Shenzhen Polytechnic will allocate 10 percent of the tuition fees to a fund designed to help students from poor families.
The fund would be used to either create jobs on campus for the poor students, or provide loans, a Shenzhen Polytechnic official surnamed Chen said.
The subsidies were available in three amounts, 300 yuan (US$36), 200 yuan and 150 yuan monthly, he said.
Shenzhen University also called for donations from teachers and other school staff to set up financial aids and scholarships for students in need.
(Shenzhen Daily September 23, 2004)