Credit system launched for university students
( 2003-08-28 08:54) (eastday.com)
A credit system recording university students' loan repayment status has been
established in Shanghai City, the Shanghai Education Commission announced
yesterday. Nearly 50 local universities signed a contract with the Shanghai
Credit Information Service Co, the city's only consumer credit company, to keep
track of some 30,000 loan applicants at local universities. Details of students'
loan repayment will be recorded in applicants' personal account in the system.
Those failing to repay loans will be marked down with a "tainted record" and can
be deprived of future loans.
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