China increases amount of student loans this fall

China will increase the amount of national student loans available this fall semester, the Ministry of Education said on Friday.

According to a statement released by the ministry, each full-time university student can apply for national student loans, with an annual quota of 16,000 yuan ($2,200) since this fall. The amount has been increased from 12,000 yuan.

The student loan for full-time graduate student has increased from 16,000 yuan to 20,000 yuan.