Although China forbids loans to students with no independent source of income, supervision has seemingly been ineffective as campus loans are still rampant in new forms, used for apartment rentals or to pay for training classes.
By
NewsChina
Updated Jan.1
Although China forbids loans to students with no independent source of income, supervision has seemingly been ineffective as campus loans are still rampant in new forms, used for apartment rentals or to pay for training classes. Recently, a college student told a popular social media outlet that he became laden with heavy debt after signing up for an English language learning course. According to the student, the seller told him that he could pay for the course through a mortgage-type payment plan. Only later did he realize that the total tuition amounted to 190,000 yuan (US$27,536) plus interest. Some netizens blamed the authorities for neglecting their duties, while others urged students to pay more attention to the content of the contracts they sign.
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