Since handling the state-subsidized student loan business from 1999, Bank of China has disbursed totally RMB 15 billion of such loans, funding 1.28 million college students in 476 colleges and universities to finish college. Up to now, the balance of state-subsidized student loans disbursed by Bank of China is 8.63 billion, the highest among banks in China.
In 2004, Bank of China took the role of the bank exclusively operating the state-subsidized student loan business for colleges and universities directly under the central government departments. Since then, Bank of China has gradually improved the management model, operating procedures, and risk management of the state-subsidized student loan business, achieving a business characterized by outstanding features, simple application process and broad coverage. In 2010, Bank of China won the bidding again in the new round of bid initiated by the Ministry of Education, which means that Bank of China will have been operating the state-subsidized student loan business for colleges and universities directly under the central government departments exclusively for almost ten years by 2014.
With its proactive activities in the state-subsidized student loan business, Bank of China received recognition and praise from teachers and students in colleges and universities. College students wrote in the letter of thanks to Bank of China, "Behind the figures and words of achievements, there are the sweat and effort of Bank of China's staff, as well as their endless care, confidence and tolerance to college students."
In addition to subsidized student loans, Bank of China also provide students in need with special offers, including change-free loan contract and online banking account-opening service, annual charge-exemption for debit cards during their study andno service charge for inter-city repayment of loans.
On December 20, 2010, Bank of China was awarded the honorary title of "National Advanced Unit in Financial Aid to Students" on the national commendation ceremony of financial aid to students held by the Ministry of Education.
|
