Thursday, April 1, 2010

Student loan revisions help college hopefuls

A joint effort has been initiated by the Ministry of Education, the Ministry of Finance, the People's Bank of China and the China Banking Regulatory Committee to revive the nation's student loan programme.
By fixing credit terms the new move will re-energize the student loan programme, which was seriously strained in recent years by repayment defaults.
Almost five years after the programme was introduced to help poor youth realize their college dream, it was reported that a number of student borrowers failed to abide by their repayment agreement.
That fact made domestic banks shy away from such a programme, even though it was of far-reaching importance to the country's higher education cause.
While the banks are justified to reduce their confidence in student borrowers, the bank credit terms were indeed too rigid for students.
The majority of today's college students have to apply for loans to cover tuition fees and living expenses which they cannot otherwise afford.
Though half of the interest on student loans is paid out of the national budget, the previous four-year repayment term still constituted a heavy burden on most student borrowers.
The country's tight job market has darkened college graduates' employment prospects. It is estimated that some 2.8 million students, an increase of nearly one third, will graduate from colleges this year.
By extending the term of repayment to six years and requiring colleges to set up loan compensation funds, the new credit policy will allow college graduates to establish a credit rating within their financial capacity while enhancing educational institutions' role in overseeing repayments.
To transform themselves into ingenious commercial banks, domestic banks must caution against any repayment default.
But unlike problematic consumer loans for the purchase of housing or cars which domestic banks compete with each other to grant, student loans represent assets of social significance rather than commercial benefit.
The pressing task for domestic banks is not to wince at temporary losses. Instead, they should overcome existing problems to expand the programme as quickly as possible.
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Monday, March 15, 2010

Fingertips

I want to read the world with my fingers
I’ll let them touch and let them linger
On every edge and every corner
Caress soft flowers and then unfold them

I want to laugh with my fingertips
And feel the rush of electricity
Touch the life that rests on everything
Steal some wisdom from a rock

Without lights I’ll see the world
I’ll conquer sharp, I’ll conquer cold
I’ll take my hands through warm and soft
I’ll feel the weight of time that’s old

I want to find the missing pieces
And spread my life around cornices
Taste the sweetness in wood and bark
I’ll use these hands to walk my path

I want to play with the wind
And fall asleep while I swim
In a cold ocean that’s soft and luscious
I’ll fly and run, across, above
And hold the key to bliss and love

I’ll hold it all with these two hands
There will be no doubt or cloud above me
I’ll see it all through these my fingers
I’ll read the world, I’ll let them linger

Digital Trunked System Based on CVT-PXA270 Platform


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