Govt funds aid 520 million students in six years

China has financially aided 520 million students since the 18th National Congress of the Communist Party of China in 2012, spending 886.4 billion yuan ($129.6 billion), an official with the Ministry of Education said on Sept 6.

According to Zhao Jianjun, deputy head of the ministry's finance department, six new policies on the financial aid were released during the six years, while 13 relevant policies were improved.

The new policies are aimed mainly at postgraduate students, and improvements include higher loan limits, longer periods to pay back student loans and a higher subsidy standard for universities, secondary vocational schools and high schools, among others.

A policy system on the financial aid for students has been established, covering every educational phase from preschool education to postgraduate education, he said.

"The policies have also covered both public and private schools and all types of students whose families have financial difficulties, helping us reach the target of 'not letting any student drop out of school because of financial difficulties,'" Zhao said.