OREANDA-NEWS.  September 03, 2013. As major tertiary education institutions' start dates approach, China Development Bank (CDB) is accelerating student loan processing and approval.

As of today, CDB has accepted over half of the student loan applications for 2013. Student loans totaling RMB12.7 billion shall be extended this year. Total number of person-time students from families with financial difficulties shall exceed 10 million (accumulated).

Hu Huaibang, Chairman of CDB made a dedicated trip to Huining County, Gansu to look into progress of student loan processing. He said CDB had established an effective student loan mechanism over the past years to ensure student loans can be extended, used well and repaid. On this foundation, CDB shall work closely with local governments as a next step to jointly promote a credibility system and the establishment of a student loan management mechanism.

CDB will also research into innovative financial products and service models to help university graduates supported by student loans deal with employment issues. It is hoped that families with financial difficulties can feel the warmth of this community care project as it fulfills underprivileged students' university dreams and Chinese dreams.

In 2013, CDB further expand the scope of its student loan program to achieve the objectives of practically ensuring fair education for all and endeavoring to lend to those in need. 174 districts and counties in Henan, Sichuan, Xinjiang, Jilin, Qinghai and Liaoning have been added so that the student loan program now covers 25 provinces (districts and municipals) and 1,940 counties (districts), or 68% county coverage.

At the same time, CDB captures the opportunity of community education realization development activities and adopts a series of new measures to further raise service standard of the student loan program. CDB practically changes its working style and explore a more comprehensive and convenient student loan service model.

First, CDB spares no efforts in promoting pre-application. It puts high school into the pre-lending management process and correspondingly develops a pre-application acceptance system to bring forward the basis for loan application acceptance and in turn further increase efficiency and service standard.

Second, CDB strengthens its emphasis on poor, geographically connected counties and counties below the State's poverty line to ensure student loans extended to students from families with financial difficulties in these counties grow by at least 5%.

Third, CDB raises the standard of services for students and grassroots and puts more efforts into building student loan 95593 national call centers. For this year alone, CDB has addressed a total of over 60,000 telephone enquiries from borrowing students.

Fourth, CDB actively supports university graduates in job hunting or starting their own businesses. CDB organized job fairs for graduates who received China Development Bank student loans in Qinghai, Henan and Guangdong, providing a total of 17,300 jobs. 43,000 university graduates attended the fairs and close to 5,000 reached preliminary agreement with employers. In addition, CDB also provides startup loans in Wuhan and Inner Mongolia and works closely with local governments to jointly set up the University Graduate Entrepreneurship Financial Service Association to actively support university graduates in job hunting or starting their own businesses.

This is the ninth consecutive year that CDB offers student loan services. As at the end of 2012, CDB has extended student loans that totaled RMB42 billion and supported 7.74 million person-time students from families with financial difficulties since the student loan program first started. In 2012, CDB provided over 90% of place-of-birth unsecured student loans and supported over 80% of students from families with financial difficulties.