For students with financial difficulties in their families, source-based student loans and tertiary student loans are the two main forms of financial support, which are widely used in universities. However, many may have little knowledge of the differences between the two types of loans, as detailed below:

There's a difference between student loans and college loans

First, the number of applicants varied. Source-based student loans are mainly for students with financial difficulties, who come from provinces and municipalities that have established student loans. In contrast, higher education student loans include full-time undergraduate students, specialists, including senior students, graduate students and second bachelor's degree students nationwide。

Secondly, the place of application is quite different. The application for a birth grant is made before the start of school, through the Student Support Management Centre of the Board of Education, where the student is domiciled. The application for a loan for higher education grants requires students to apply to the bank through the school after they are enrolled。

Third, there are differences in the timing of applications for the two types of loans. Generally speaking, the application period for a source-based student loan is from July to 10 October of each year. In the case of loans for higher education, students are required to find a teacher to support them after the start of school。

Finally, the submission of the application is not identical. Essential information about individuals and families, such as acceptance notices, payment forms, identity cards, household registers, marriage certificates, etc., is required in order to provide a certificate of guarantee or valid asset mortgage, credit appraisal, etc. In comparison, the application materials required for loans to higher education students are simpler and require only personal information such as identity cards, admission notices or student certificates, family means tests, etc。

With regard to the timing of the allocation of source-based student loans, it is common that between 1 and 20 November of each year, different regions may vary, but usually not later than the end of November. In addition, source-based student loans are divided into first-time and continuing loans, and reapply once a year. The specific time of arrival depends on the actual date of the loan。