I. State-subsidized Student Loan
☆ Introduction
State-subsidized student loan is a RMB loan granted to college students with economic difficulty in the Peoples’ Republic of China (excluding Hong Kong Special Administration Region, Macau Special Administration Region and Taiwan) who have signed a cooperation agreement with ICBC. It can be used for paying student’s tuition and miscellaneous fees and living expenses. It can be divided into tuition and miscellaneous fees loan and living expense loan. The tuition and miscellaneous fees loan is used by the borrowers to pay tuition and other miscellaneous fees to their schools. The living expense loan is used by the borrowers to pay daily living expenses.

☆ Features
The loan is applicable to full-time undergraduate and junior college students (including second bachelor’s degree, higher vocational students, preparatory students, the same below) and full-time graduate students.

☆ Limit and term
The maximum amount of loans per full-time undergraduate and junior college student is not more than RMB12,000 per year, and the maximum amount of loans per full-time graduate student is not more than RMB16,000 per year. The grace period for repayment of the principal of the student loan is 5 years, and the loan term is the school system plus 15 years, with a maximum of 22 years.

☆ Conditions
Borrowers must meet the following conditions:
1. They should have the nationality of the People’s Republic of China and full capacity for civil conduct;
2. They should be honest and trustworthy, observe discipline and the law, have good conduct, and commit no illegal or disciplinary acts;
3. They should study hard and be able to complete their studies normally;
4. Their family is in financial difficulties, insufficient to pay the basic expenses required to complete their studies during the school period, including tuition and miscellaneous fees and basic living expenses;
5. They should promise to inform the loan handling branch/sub-branch of the changes during the school period and after employment;
6. They should open a personal settlement account with ICBC;
7. During the same school period, no state-subsidized student loan is handled in other financial institutions; and
8. They should meet other conditions stipulated by the Bank.

☆ Materials for application
Students applying for loan must fill in the application form in writing and submit the following materials at the same time:
1. Student ID Card and ID Card;
2. Consent from direct relatives (parents) on application, how to contact and residential address;
3. Application for state-subsidized student loan;
4. Descriptions on the family difficulty;
5. Document certifying the family’s difficulty from the civil administrative department of village, town or street (except for special local regulations);
6. School offer if the student is a freshman;
7. Authorization for inquiry and use of credit information about personal customers; and
8. Other materials required by the Bank.

☆ Operation guide
1. Application submission. Student applying for loan gets an application form from his/her school. After collecting all application forms and confirming the authenticity of materials provided, the school will deliver the forms, materials and opinions to lending bank.
2. Bank’s review and approval. The Bank makes investigation and approval on the credibility of applicable students.
3. Contract signing. The Bank signs the loan contract with the applicant for the approved loan after investigation.
4. Loan issuance. The Bank grants the loan according to the prescribed procedures. The tuition and miscellaneous fees loan is directly drawn into the account specified by the borrower’s school in each academic year (semester). The living expense loan is drawn into the personal settlement account designated by the borrower.
5. Repayment confirmation. The student submits a confirmation of repayment to the school and the Bank after graduation, and undertakes to repay the loan principal and interest according to the contract.
6. Loan settlement. The same as other personal loans.

☆ Interest rate
The benchmark loan interest rate is equal to LPR of the same grade over the same period minus 30BP. The borrower’s loan interest during the school period is all subsidized by the government, and will be paid by the borrower after graduation.
Before the student loan is granted, the borrower can agree on the first repayment date of the loan with the Bank, namely: During the period from the loan issuance date to the first repayment date, the borrower does not need to repay the principal and interest of the loan. The borrower can choose between two methods of interest amortization and the first repayment to repay the interest generated during that period. For equal monthly installment, equal principal or other repayment methods, the principal and interest should be calculated according to appropriate formulas.

II. General Commercial Student Loan
☆ Introduction
General commercial student loan is a commercial loan granted to students receiving non-compulsory education or their direct relatives or legal guardians. It is applicable for students to study overseas or for continuing education.

☆ Limit and term
The limit on the commercial student loan is determined by the Bank according to the borrower’s credit status and the guarantee provided. The minimum and maximum terms of the loan are 6 months and not more than 8 years (inclusive).

☆ Conditions
Chinese citizens who have fixed residence in China, permanent residence in local cities and towns (or valid certificates), full civil capacity and meet the following conditions may apply for general commercial student loans.
1. Good employment and stable income source, ability to repay the principal and interest of the loan when due;
2. Admission Notice (or Student ID Card and enrollment proof) from the student’s school. Document from the school certifying the tuition and miscellaneous fees, living expenses and other fees related to study;
3. Submitting ICBC-recognized property mortgage or valid pledged rights, or guarantee from third party who is capable to repay-on-behalf, or conditions approved by ICBC;
4. Obeying rules and laws, and committing no act of violating the law or bad credit record;
5. Opening a personal settlement account in ICBC and agreeing to have the principal and interest of the loan deducted from the account; and
6. Meeting other conditions stipulated by the Bank.

☆ Materials for application
The borrower should submit the following materials to the Bank:
1. Loan application approval form;
2. Valid identity documents and copies;
3. The original and copy of the valid identity certificate of the spouse and the written certificate of consent to the mortgage;
4. Proof of residence address (household register or receipts of rent, water, electricity and gas charges for the past three months);
5. Proof of job and income (original and copy of working ID, bank passbook for payroll payment, etc.);
6. Effective contact information and telephone number;
7. Supporting documents of loan guarantee;
The loan can be guaranteed by pledged rights, mortgage or third party.
Pledge used for supporting a loan includes the following issued by ICBC in the name of borrower or third party: certificate of deposit (passbook) for savings, certificate treasury bond, registered bond or certificate of deposit (passbook) for savings issued by local commercial bank that has signed Inter-bank Guarantee Agreement of Stop-Payment of Pledge;
Housing property used as mortgage to guarantee the loan should be free, not-yet-pledged property under the name of borrower or borrower’s direct relatives, and insured in full amount;
Loan guaranteed by the third party should surrender written consent from the guarantor, the original and copy of the guarantor’s ID and related documentation on credibility.
8. Voucher of personal settlement account opened in ICBC; and
9. Other materials as specified by the Bank.

☆ Operation guide 
1. After the Bank has reviewed and approved the application materials submitted by the borrower, the two parties sign the loan and guarantee contracts and go through relevant notarization and mortgage registration procedures.
2. The Bank grants the loan to the borrower by means of transfer.

☆ Interest rate
The benchmark loan interest rate is equal to the latest LPR of the same grade over the same period published by National Interbank Funding Center prior to the loan issuance date.
Before the student loan is granted, the borrower can agree on the first repayment date of the loan with the Bank, namely: During the period from the loan issuance date to the first repayment date, the borrower does not need to repay the principal and interest of the loan. The borrower can choose between two methods of interest amortization and the first repayment to repay the interest generated during that period. For equal monthly installment, equal principal or other repayment methods, the principal and interest should be calculated according to appropriate formulas.
Note: Student loans are policy-based loans, and subject to the latest announcements issued by the Ministry of Finance, the Ministry of Education, the People’s Bank of China and the China Banking and Insurance Regulatory Commission.