Journalists learned from the Ministry of Finance that the Ministry of Finance, the Ministry of Education, the People's Bank of China, and the China Banking and Insurance Regulatory Commission recently jointly issued a notice stating that to further increase support for economically disadvantaged students in universities, better meet the demand for student loans, and alleviate the financial burden on students, adjustments and improvements have been made to the national student loan policy.

The notice specifies an increase in the national student loan limit. Starting from the fall semester, the annual loan limit for full-time undergraduate and associate degree students (including second bachelor's degree, vocational students, and preparatory students) has been increased from no more than 8,000 yuan to no more than 12,000 yuan. For full-time graduate students, the annual loan limit has been increased from no more than 12,000 yuan to no more than 16,000 yuan. The national student loans applied for by students are prioritized for covering tuition and accommodation fees during their studies, with any excess used to supplement their daily living expenses.

The notice states that the interest rate for national student loans is being adjusted. The interest rate for national student loans, which was previously set at the Loan Prime Rate (LPR) for the same term and grade minus a certain number of basis points, will now be adjusted to the LPR for the same term and grade minus a certain number of basis points. For previously signed floating-rate national student loan contracts, the servicing banks may negotiate with the loan students to adjust the original contract interest rate to the LPR for the same term and grade minus a certain number of basis points.