Repayment terms for student loans to help borrowers

Changes in the nation's student-loan program will help cash-strapped borrowers pay back their loans after graduation, the Ministry of Education announced on Friday.

The term of the national student loans will be extended to 20 years, and the time that students will have to pay the interest will be extended to three years, said Du Yubo, education vice-minister, at a news conference.

"Previously, the term for the loan was only 14 years, and students had to start repaying the capital two years after their graduation. This created a lot of financial pressure, especially for those who just graduated and started working and didn't earn much," Du said.