A new model of educational loans resulting from cooperation between China Development Bank and Guangdong Provincial Government has benefited 112 universities in Guangdong since the start of this autumn semester.

University "green channels", allow poor students a smooth entry into the university. [xkb.com.cn]

Under the new model, the percentage of students from poor families obtaining the loans has increased from 70% to 100%. Qualifying students could be approved within 20 working days, rather than the previous 5 to 6 months. The payback terms have also been extended to a maximum of 10 years.

The new model has been running for half a year, benefiting 33, 500 students of 88 Guangdong universities, with a total grant of 184 billion RMB.

(By Jessie Hwang, Alan Devey)