Looking at U.S. policy, especially university students funded student loan policy development, Faren World War II and the "Emergency Loan Scheme" (Emergency Loans'Programme), the federal government is the first use of "scholarships" to students funded; development in the 1950s "National Defense Education Law" set up "national defense scholarships" (the National Defense Student Loan Programme), the Student Financial Assistance, as the British researchers Wudehuoer alleged This is the federal government to needy students across the country to provide the "first Loan Scheme "(the first loan programme); rise in 1965," Higher Education Act, "a statement:" In order to make the difficult economy, especially those of qualified secondary school graduates, or lack of family financial support to enable students to receive higher education ", Authorized the federal government to continue to provide "national defense scholarships" At the same time, the establishment of "education opportunity grants", "national security scholarships" (that is, "Stefo scholarships," the predecessor) and "campus for the opportunity to read," This The United States Congress enacted the first students to complete announced that the economic difficulties of financing methods to determine the amount of subsidy and the law, the United States Student Financial Assistance, "the true history of legislative milestone." After 20 years of development, the United States basically established a complete university students funded programmes, and student loan policy also will be able to gradually improve. [1]
In the U.S. student loan programme, Stefo lending programme (Stafford Loan) in each of the country's total amount of grant funding of the total amount of 1 / 3 is at about the nation's largest university students funded projects, taking into account its important status and influence, this paper Stefo loan programmes as the main case, supplemented by other lending programme to study the U.S. student loan policy. As mentioned above Stefo lending programme is "1965 Higher Education Act" established by the name of "national security scholarships," the U.S. Congress in 1988 are beginning to change its name to the United States said on improving student loan legislation To contribute to the former Mr Robert. T. Stefo of my highest consideration. This bill every six years required by Congress to re-examine time, a recent audit in 1998, compared with the previous review after the bill has some new changes. This paper in 1998 to review after the new changes [2] as the starting point for research and analysis on China's attempt to student loan policy inspiration.
First, lending rates and loan rates
"1965 Higher Education Act" After the 1998 amendments, in terms of overall performance of student loans: a decline in interest rates, annual loan amount can be increased. From the figures to compare the changes before and after the various amendments to the programme: first, Stefo the rate of lending programmes in 1994-1995 to 8% (nominal interest rates) (Wood Hall.W, 1995) [3], and in In 1998 Congress amended the programme: July 1, 1998 to June 30, 1999, Stefo loans for 7.46 percent interest rate, but in school and during grace period (after graduating from the first six months) 6.86% (consider this stage of the students the basic low income or no income and therefore in the interest rate on these concessions); second, the Federal Perkins Loan Programme (Federal Perkins Loans) in 1994, the maximum loan amount of 3,000 U.S. dollars / year [4], in 1998 Congress amended the provisions in the annual maximum loan amount undergraduates to 4,000 U.S. dollars / year, than the original increase by 1 / 3 more, graduate students increased to 6,000 U.S. dollars / year.
In China, the interest rate on student loans and the amount of annual loan-to-be were, first, from 1987, "the general colleges and universities, specialist student loan system implemented to" limit the maximum loan-to-300 yuan to 1999, according to host the 2000 Institutions of tuition fees, the seat of the institutions, the average standard of living and personal income to determine the line of credit and second, from 1987 the interest-free small loans to eight cities trial in 1999 National Student Loan policy, the full implementation of 2000 The new national student loan policy, interest rates on its "People's Bank of China announced the statutory lending rate and the implementation of the relevant state interest rate policy": that is, six months (including) to within, 5.58%: 6 months to 1 year (including) : 5.85%; one year to three years (including): 5.94%; three years to 5 years (including): 6.03%; more than five years as follows: 6,21% [5]. National institutions for their subordinates to borrow 50 percent of the students take interest on loans, and local institutions by local governments bear 50 percent of the student loan interest on loans.
Comparing the United States and China, student loan interest rates and loan amount can be found: a single line of credit limit and diversified operations of the other, lending rates are the standard rigid and flexible hours. Look at my student loan limit, in 1999 and 2000 the institutions for the university's line of credit for a single operation, a standard. If a certain key Hubei University for graduate school loan limit for the reunification of 3,000 yuan / year, of course, this may be due to banks and the outcome of negotiations, to facilitate the operation and management. However, due to their different needs of students have some differences, the requirements for the loans do not like, so for the interests of students to a certain extent of damage, but also cause some students to borrow so. This is the United States for the better, because of their different students of different family backgrounds can be so different from the line of credit, which not only conducive to the actual needs of students, but also conducive to lending in the future be able to repay effective (because of his family to consider the Background). We should also be provided for this, not only promote the effective use of limited funds, loans and guarantees the smooth recovery.
From the national student loan policy, the implementation of the standards of its interest rate and other commercial loans similar to the implementation of the standards, without taking into account its special nature, which is too inflexible. But the U.S. operation of the student loan interest rates, borrowers considered the economic situation of different periods and interest rates on loans to make the necessary adjustments and more flexibility, such as in the above-mentioned Stefo loans when the borrowers are In school and during grace period at the request of the lending rates low, is considered the characteristics of groups of students borrowing. In this respect our country's lack of student loan policies, so that we may wish to consider the special nature of student loans and take corresponding measures to improve the student loan business.
Second, deferred loan and loan relief
From the above we have learned that the U.S. policy on student loans when the borrowers in the loan during the bad economic situation, could be postponed to repay their loans. And in terms of relief to Stefo lending programme as an example, in the past few provisions in this regard, such as the participation in country-specific services to specific low-income families when their children full-time services of primary and secondary teachers, participate in the "peace Team "or the U.S. international aid volunteer service teams, in public or non-profit child and family centre for problem children full-time services and so on are not allowed to defer loan or relief [6]. The 1998 Congress revised programme: from October 1, 1998 start for the Si Taifu lending programme of the new borrowers, (the prerequisite is that no other student financial assistance in the lending programme in the non-performing loans in arrears Record), as long as the designated low-income families to the schools (Low-income shools) five academic years of continuous service can also avoid some loans, also for the amount of up to 5,000 U.S. dollars. Another federal Stefo lending programme has a similar loan for the project also, but only after graduation engaged in child care work of the borrowers.
My student loans look at the relevant policies: First look at the provisions to defer debt payments, the state student loan policy by the lending bank agreed that the National Student loans can be extended for (extension means: after the expiration of loans, the principal can not be returned, Also for Xudai); undergraduate student loans after graduation to pursue a graduate degree and second in reading during the loan period extended accordingly; second loan relief to see the provisions of the July 6, 1990 the State Education Commission, the Ministry of Finance "on the general Higher The schools, specialist on student loans to repay the supplementary notice "from the loans of students in school during the performance of work after graduating from the regions and industries as well as in school during the accident in three aspects, such as during a row at school was named" Miyoshi students "or above the provincial level by the leading organs of the award (the" outstanding member "and" excellent student leaders "winner); mainland students after graduation to Qinghai, Xinjiang, Tibet and other western areas hard work; to oil, and mining, defense , And other sectors of the hard work of grassroots units in deaths due to illness during school, with each one of these conditions, in whole or in part for loans. In 2000 the national student loan policy, in addition to provisions of their subordinates institutions and local institutions were students borrowing by the state and local government loan interest burden of 50 percent, no other relief provisions. The author believes that national student loans as the overall situation of a student financial assistance programmes, the national organization under the four major state-owned banks led by the implementation, in its operation and implementation of the national regulation play an important role. However, the characteristics of student loans need more countries to special policies, I think we can learn from China in the early 1990s the practice of preferential policies for student loans, student loans from the United States for some experience.
Two loan from the concession of view: the policy has delayed loan, loans have different relief measures. Look at the loan delay, the U.S. student loan policy, when the loan period in loan income below a certain standard, the loan can be extended accordingly time, the amount of regular debt payments (such as monthly in accordance with the provisions of the contract also Loan amount) can be adjusted downwards. And our student loan policy also provides for student loans can be extended to continue to pursue a postgraduate student loan borrowers to extend the corresponding time, the two countries of the student loan policy to consider the borrower's financial situation and take corresponding measures.
See loan relief, the United States Stefo loans, Perkins loans in the past also did not avoid the relevant provisions, in particular, Stefo loans in 1994 has not relevant, to begin in 1998 after the preferential policies introduced, but also to Some countries adapt to the development of special industries and backward areas of policy: China's National Student loans have been introduced before the relief loans, student loans to the country following the introduction of the relevant provisions but did not. This is our case worthy of reflection: First of all, China's regional imbalance in development, trade imbalance in the development of relatively prominent, in order to promote industries in backward areas and backward in development, achieve national development and the dominant ideas in line with the National Student The lending policy for backward areas after graduation to work in industry and hardship student loan borrowers should also avoid or in part also from the provisions, secondly, on the development of higher education in terms of their own, some of the major basic theoretical research in the so-called "upset "Nevertheless, judging from the overall situation of the country's development is extremely important in terms of professional disciplines, for the protection of their development, these professional students borrow loans preferential policies should also make provisions; Finally, to encourage students to study hard borrowing, For in-school outstanding performance during the academic performance of students of outstanding loans should also be relief.
Third, the loan guarantee mechanism
In order to carry out a student loan business at the same time to minimize the risk reduction, the banks need to make a borrower's eligibility limit, the author of the limit in this area known as the loan guarantee mechanism.
U.S. student loan programme for the loan guarantee mechanism, the author mainly from the loan eligibility requirements and apply for more links to the relevant provisions of analysis: First, under 1998 amendments to the programme: When a student suspected of committing a crime, according to the law will be suspended Their loan eligibility. If this is the first time a drug possession crimes are eligible to be suspended for one year of its second suspended for two years of crime if the crime is drug trafficking, the first crime of its two-year suspension for the second time for their crimes will be unlimited Period of suspension, if a school loans for three consecutive years of loan default rate greater than (equal to) 25 percent, it lost Stefo loans for the second, the 1998 amendments to the programme is given in certain circumstances Financial managers can adjust the family should make contributions (Expected Family Contribution) (= need financial assistance to school costs - should make contributions to the family) [7] of factors: the family should make contributions to the family should take into account the primary and secondary education costs, Not to pay medical insurance costs, higher costs of child care, family members of the new unemployment, the parents of their education costs, other changes in household income, family assets or the position of students and make corresponding adjustments in the relevant departments Students will apply for a loan of the immigration status of the parents and social security number (Social Security Number) to verify. We know that in the developed Western countries like the United States, a sound credit system, every citizen has a set identity card number, Social Security numbers and bank account "trinity" of personal credit files, "national reunification, both 1, for life "No one casually with their credit risk. Therefore, the United States on student loans scheme would be more from the borrower to resolve their own to prevent risks, according to Shanghai's credit and loan-to-person household economic conditions to determine the loan, thus ensuring maximum loan repayment.
China's policy on student loans from the borrower's request, bank loans and collateral requirements for emergency measures to analyze loan guarantee mechanism. First, require the borrower (students) in school during the academic performance excellence, no offence to abide by the law, moral correct, I would also like to provide parents and the effective identification documents, proof of income of family members, and its guarantor (natural Witnesses) the effective identification and income; Second, the witnesses (referring to student loans and close to a natural person, whose instructor, or Head of the Department of classmate) and references (referring to the school's departments in charge of student loans, Students Office, etc.) requirements, the banks would witness the obligation to assist borrowers to understand the situation of students and asked banks to provide loans of students as an effective means of communication; references to the lending bank on the obligation to recommend the student loan applications, borrowers, according to Bank loans require the borrower to understand students and the establishment of the information, files and credit banks agreed to deal with other matters. Third, the lending bank and the borrower under the contract, found a breach of contract under the act to stop issuing loans, such as student loans at the end of the contract by the use of loans for use, drop-out or expelled from school, Studying abroad or settle in, and so on.
Through the above comparison can be seen: loan guarantee mechanism is perfect and the lack of distinction. The United States have a well-developed credit system and credit are also citizens of this foothold. For college students, when to work after graduation (in any units), working through the transfer must be credited to the personal credit card accounts, credit cards and personal bank accounts and personal life must be the only social security numbers as the basis, through such well - Banking system can make the best of the borrower's whereabouts and income, so as to effectively control lending risks. It is this background, the United States before the 1998 student financial assistance policy changes, enhance the qualifications of the borrower and the more qualified applicants and their families as information audit. In China, due to a personal credit system has not yet been established, the bank loan applications in the information did not fully grasp the situation only through the use of security, and strengthen the application procedures, strict examination and approval, and other means to avoid, transfer credit risks, so China's 1999 trial The national student loan guarantor on, references, interview witnesses and request Although the high school from this sense, but also in terms beyond reproach. However countries to ensure that poor students do not drop out, had repeatedly asked the student loan bank loans to reduce the threshold and thus 2000 National Student Loan formally released only very few witnesses and references to the request and the two " Are jointly and severally liable, "Under such circumstances, the loan to a certain extent, a great promotion, but" less than satisfactory, far short of the CPC Central Committee and the State Council's requirements "[8], and the relevant data Show that as of the end of May 2001, "has signed loan contracts of the number of students accounted for only 32 percent of the number of applicants, the amount of loan contracts had been signed only for the amount of 38%,…… there are five provinces, autonomous regions not scheduled state Student Loan discount funds, two of the National Student Loan has yet to start "[9]. Inspection of its reason for this is that, when the abolition of the provisions of the guarantor to take credit, bank loans on the lack of students and families of my students effective income, credit information, students can not be the borrower's credit situation assessment, uncertainty can not guarantee that the loan , Resulting in the bank's borrowers choose carefully and slowly, so China need to establish a social insurance and personal credit system. According to some scholars of China's actual situation with "pension insurance" and other measures to ensure the smooth progress of loan, though with a certain sense, but implementation of it is very difficult.
In the U.S. student loan programme, Stefo lending programme (Stafford Loan) in each of the country's total amount of grant funding of the total amount of 1 / 3 is at about the nation's largest university students funded projects, taking into account its important status and influence, this paper Stefo loan programmes as the main case, supplemented by other lending programme to study the U.S. student loan policy. As mentioned above Stefo lending programme is "1965 Higher Education Act" established by the name of "national security scholarships," the U.S. Congress in 1988 are beginning to change its name to the United States said on improving student loan legislation To contribute to the former Mr Robert. T. Stefo of my highest consideration. This bill every six years required by Congress to re-examine time, a recent audit in 1998, compared with the previous review after the bill has some new changes. This paper in 1998 to review after the new changes [2] as the starting point for research and analysis on China's attempt to student loan policy inspiration.
First, lending rates and loan rates
"1965 Higher Education Act" After the 1998 amendments, in terms of overall performance of student loans: a decline in interest rates, annual loan amount can be increased. From the figures to compare the changes before and after the various amendments to the programme: first, Stefo the rate of lending programmes in 1994-1995 to 8% (nominal interest rates) (Wood Hall.W, 1995) [3], and in In 1998 Congress amended the programme: July 1, 1998 to June 30, 1999, Stefo loans for 7.46 percent interest rate, but in school and during grace period (after graduating from the first six months) 6.86% (consider this stage of the students the basic low income or no income and therefore in the interest rate on these concessions); second, the Federal Perkins Loan Programme (Federal Perkins Loans) in 1994, the maximum loan amount of 3,000 U.S. dollars / year [4], in 1998 Congress amended the provisions in the annual maximum loan amount undergraduates to 4,000 U.S. dollars / year, than the original increase by 1 / 3 more, graduate students increased to 6,000 U.S. dollars / year.
In China, the interest rate on student loans and the amount of annual loan-to-be were, first, from 1987, "the general colleges and universities, specialist student loan system implemented to" limit the maximum loan-to-300 yuan to 1999, according to host the 2000 Institutions of tuition fees, the seat of the institutions, the average standard of living and personal income to determine the line of credit and second, from 1987 the interest-free small loans to eight cities trial in 1999 National Student Loan policy, the full implementation of 2000 The new national student loan policy, interest rates on its "People's Bank of China announced the statutory lending rate and the implementation of the relevant state interest rate policy": that is, six months (including) to within, 5.58%: 6 months to 1 year (including) : 5.85%; one year to three years (including): 5.94%; three years to 5 years (including): 6.03%; more than five years as follows: 6,21% [5]. National institutions for their subordinates to borrow 50 percent of the students take interest on loans, and local institutions by local governments bear 50 percent of the student loan interest on loans.
Comparing the United States and China, student loan interest rates and loan amount can be found: a single line of credit limit and diversified operations of the other, lending rates are the standard rigid and flexible hours. Look at my student loan limit, in 1999 and 2000 the institutions for the university's line of credit for a single operation, a standard. If a certain key Hubei University for graduate school loan limit for the reunification of 3,000 yuan / year, of course, this may be due to banks and the outcome of negotiations, to facilitate the operation and management. However, due to their different needs of students have some differences, the requirements for the loans do not like, so for the interests of students to a certain extent of damage, but also cause some students to borrow so. This is the United States for the better, because of their different students of different family backgrounds can be so different from the line of credit, which not only conducive to the actual needs of students, but also conducive to lending in the future be able to repay effective (because of his family to consider the Background). We should also be provided for this, not only promote the effective use of limited funds, loans and guarantees the smooth recovery.
From the national student loan policy, the implementation of the standards of its interest rate and other commercial loans similar to the implementation of the standards, without taking into account its special nature, which is too inflexible. But the U.S. operation of the student loan interest rates, borrowers considered the economic situation of different periods and interest rates on loans to make the necessary adjustments and more flexibility, such as in the above-mentioned Stefo loans when the borrowers are In school and during grace period at the request of the lending rates low, is considered the characteristics of groups of students borrowing. In this respect our country's lack of student loan policies, so that we may wish to consider the special nature of student loans and take corresponding measures to improve the student loan business.
Second, deferred loan and loan relief
From the above we have learned that the U.S. policy on student loans when the borrowers in the loan during the bad economic situation, could be postponed to repay their loans. And in terms of relief to Stefo lending programme as an example, in the past few provisions in this regard, such as the participation in country-specific services to specific low-income families when their children full-time services of primary and secondary teachers, participate in the "peace Team "or the U.S. international aid volunteer service teams, in public or non-profit child and family centre for problem children full-time services and so on are not allowed to defer loan or relief [6]. The 1998 Congress revised programme: from October 1, 1998 start for the Si Taifu lending programme of the new borrowers, (the prerequisite is that no other student financial assistance in the lending programme in the non-performing loans in arrears Record), as long as the designated low-income families to the schools (Low-income shools) five academic years of continuous service can also avoid some loans, also for the amount of up to 5,000 U.S. dollars. Another federal Stefo lending programme has a similar loan for the project also, but only after graduation engaged in child care work of the borrowers.
My student loans look at the relevant policies: First look at the provisions to defer debt payments, the state student loan policy by the lending bank agreed that the National Student loans can be extended for (extension means: after the expiration of loans, the principal can not be returned, Also for Xudai); undergraduate student loans after graduation to pursue a graduate degree and second in reading during the loan period extended accordingly; second loan relief to see the provisions of the July 6, 1990 the State Education Commission, the Ministry of Finance "on the general Higher The schools, specialist on student loans to repay the supplementary notice "from the loans of students in school during the performance of work after graduating from the regions and industries as well as in school during the accident in three aspects, such as during a row at school was named" Miyoshi students "or above the provincial level by the leading organs of the award (the" outstanding member "and" excellent student leaders "winner); mainland students after graduation to Qinghai, Xinjiang, Tibet and other western areas hard work; to oil, and mining, defense , And other sectors of the hard work of grassroots units in deaths due to illness during school, with each one of these conditions, in whole or in part for loans. In 2000 the national student loan policy, in addition to provisions of their subordinates institutions and local institutions were students borrowing by the state and local government loan interest burden of 50 percent, no other relief provisions. The author believes that national student loans as the overall situation of a student financial assistance programmes, the national organization under the four major state-owned banks led by the implementation, in its operation and implementation of the national regulation play an important role. However, the characteristics of student loans need more countries to special policies, I think we can learn from China in the early 1990s the practice of preferential policies for student loans, student loans from the United States for some experience.
Two loan from the concession of view: the policy has delayed loan, loans have different relief measures. Look at the loan delay, the U.S. student loan policy, when the loan period in loan income below a certain standard, the loan can be extended accordingly time, the amount of regular debt payments (such as monthly in accordance with the provisions of the contract also Loan amount) can be adjusted downwards. And our student loan policy also provides for student loans can be extended to continue to pursue a postgraduate student loan borrowers to extend the corresponding time, the two countries of the student loan policy to consider the borrower's financial situation and take corresponding measures.
See loan relief, the United States Stefo loans, Perkins loans in the past also did not avoid the relevant provisions, in particular, Stefo loans in 1994 has not relevant, to begin in 1998 after the preferential policies introduced, but also to Some countries adapt to the development of special industries and backward areas of policy: China's National Student loans have been introduced before the relief loans, student loans to the country following the introduction of the relevant provisions but did not. This is our case worthy of reflection: First of all, China's regional imbalance in development, trade imbalance in the development of relatively prominent, in order to promote industries in backward areas and backward in development, achieve national development and the dominant ideas in line with the National Student The lending policy for backward areas after graduation to work in industry and hardship student loan borrowers should also avoid or in part also from the provisions, secondly, on the development of higher education in terms of their own, some of the major basic theoretical research in the so-called "upset "Nevertheless, judging from the overall situation of the country's development is extremely important in terms of professional disciplines, for the protection of their development, these professional students borrow loans preferential policies should also make provisions; Finally, to encourage students to study hard borrowing, For in-school outstanding performance during the academic performance of students of outstanding loans should also be relief.
Third, the loan guarantee mechanism
In order to carry out a student loan business at the same time to minimize the risk reduction, the banks need to make a borrower's eligibility limit, the author of the limit in this area known as the loan guarantee mechanism.
U.S. student loan programme for the loan guarantee mechanism, the author mainly from the loan eligibility requirements and apply for more links to the relevant provisions of analysis: First, under 1998 amendments to the programme: When a student suspected of committing a crime, according to the law will be suspended Their loan eligibility. If this is the first time a drug possession crimes are eligible to be suspended for one year of its second suspended for two years of crime if the crime is drug trafficking, the first crime of its two-year suspension for the second time for their crimes will be unlimited Period of suspension, if a school loans for three consecutive years of loan default rate greater than (equal to) 25 percent, it lost Stefo loans for the second, the 1998 amendments to the programme is given in certain circumstances Financial managers can adjust the family should make contributions (Expected Family Contribution) (= need financial assistance to school costs - should make contributions to the family) [7] of factors: the family should make contributions to the family should take into account the primary and secondary education costs, Not to pay medical insurance costs, higher costs of child care, family members of the new unemployment, the parents of their education costs, other changes in household income, family assets or the position of students and make corresponding adjustments in the relevant departments Students will apply for a loan of the immigration status of the parents and social security number (Social Security Number) to verify. We know that in the developed Western countries like the United States, a sound credit system, every citizen has a set identity card number, Social Security numbers and bank account "trinity" of personal credit files, "national reunification, both 1, for life "No one casually with their credit risk. Therefore, the United States on student loans scheme would be more from the borrower to resolve their own to prevent risks, according to Shanghai's credit and loan-to-person household economic conditions to determine the loan, thus ensuring maximum loan repayment.
China's policy on student loans from the borrower's request, bank loans and collateral requirements for emergency measures to analyze loan guarantee mechanism. First, require the borrower (students) in school during the academic performance excellence, no offence to abide by the law, moral correct, I would also like to provide parents and the effective identification documents, proof of income of family members, and its guarantor (natural Witnesses) the effective identification and income; Second, the witnesses (referring to student loans and close to a natural person, whose instructor, or Head of the Department of classmate) and references (referring to the school's departments in charge of student loans, Students Office, etc.) requirements, the banks would witness the obligation to assist borrowers to understand the situation of students and asked banks to provide loans of students as an effective means of communication; references to the lending bank on the obligation to recommend the student loan applications, borrowers, according to Bank loans require the borrower to understand students and the establishment of the information, files and credit banks agreed to deal with other matters. Third, the lending bank and the borrower under the contract, found a breach of contract under the act to stop issuing loans, such as student loans at the end of the contract by the use of loans for use, drop-out or expelled from school, Studying abroad or settle in, and so on.
Through the above comparison can be seen: loan guarantee mechanism is perfect and the lack of distinction. The United States have a well-developed credit system and credit are also citizens of this foothold. For college students, when to work after graduation (in any units), working through the transfer must be credited to the personal credit card accounts, credit cards and personal bank accounts and personal life must be the only social security numbers as the basis, through such well - Banking system can make the best of the borrower's whereabouts and income, so as to effectively control lending risks. It is this background, the United States before the 1998 student financial assistance policy changes, enhance the qualifications of the borrower and the more qualified applicants and their families as information audit. In China, due to a personal credit system has not yet been established, the bank loan applications in the information did not fully grasp the situation only through the use of security, and strengthen the application procedures, strict examination and approval, and other means to avoid, transfer credit risks, so China's 1999 trial The national student loan guarantor on, references, interview witnesses and request Although the high school from this sense, but also in terms beyond reproach. However countries to ensure that poor students do not drop out, had repeatedly asked the student loan bank loans to reduce the threshold and thus 2000 National Student Loan formally released only very few witnesses and references to the request and the two " Are jointly and severally liable, "Under such circumstances, the loan to a certain extent, a great promotion, but" less than satisfactory, far short of the CPC Central Committee and the State Council's requirements "[8], and the relevant data Show that as of the end of May 2001, "has signed loan contracts of the number of students accounted for only 32 percent of the number of applicants, the amount of loan contracts had been signed only for the amount of 38%,…… there are five provinces, autonomous regions not scheduled state Student Loan discount funds, two of the National Student Loan has yet to start "[9]. Inspection of its reason for this is that, when the abolition of the provisions of the guarantor to take credit, bank loans on the lack of students and families of my students effective income, credit information, students can not be the borrower's credit situation assessment, uncertainty can not guarantee that the loan , Resulting in the bank's borrowers choose carefully and slowly, so China need to establish a social insurance and personal credit system. According to some scholars of China's actual situation with "pension insurance" and other measures to ensure the smooth progress of loan, though with a certain sense, but implementation of it is very difficult.
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