Govt agencies increase ceiling for college loans

Four ministries and government departments have agreed to raise the ceiling for national student loans granted to undergraduates and master's and doctoral students, the Education Ministry announced on Tuesday.

The ministry also said on Tuesday that college students from low-income families can apply for increases to their loans.

According to the new policy, an undergraduate student can apply for as much as 8,000 yuan ($1,300), while graduate students can apply for a maximum of 12,000 yuan. Since 2002, all students were only allowed to apply for a loan of 6,000 yuan each year.