Loans for Studies Abroad to Be Rolled Out in the Second Half of the Year

News has just come from the recently convened "Credit and Loan Seminar of Chinese Banks" that a new personal credit-and-loan item—the "loan for studies abroad"—is to become a hot point in consumer credits and loans following the institution of housing mortgages, automobile loans, and loans for durable consumer goods. These loans for studies abroad, which will be extended to persons who have fixed incomes (or whose parents and relatives have such incomes), who have a certain amount of financial assets, and who intend to make long-term investments in education, will provide those who go abroad to study for degrees with 100,000 to 500,000 yuan in loans, with payback periods of from five to ten years.