Recently, five departments, including the Ministry of Finance ("MOF"), have enacted and issued the Administrative Measures for Student Aid Funds (the "Measures"), immediately effective from the date of issuance.
The Measures provide for the scope of students in ordinary institutions of higher learning eligible for aid funds and the subsidy standard, grants for national student loans, the scope of students in the secondary vocational schools eligible for aid funds and the subsidy standard, among others. The Measures state that student aid funds will be jointly under the administration of the Ministry of Finance ("MOF"), the Ministry of Education ("MOE") and the Ministry of Human Resources and Social Security ("MOHRSS") in accordance with their respective duties. Student aid funds will be distributed under the factor-based method, and be projected based on the number of students, relevant standards and other factors. The national scholarship, the national diligence scholarship, the national educational subsidies for college students serving in the army, and grants for national student loans, offered in ordinary institutions of higher learning, will be covered by the central budget. Moreover, the Measures state that the State encourages enterprises, social groups and individuals to set up various scholarship and student grants in different types of schools.