About 800 thousand university students in need of financial aid are expected to receive loans to support their studies this year.

According to statistics, 147,000 students took out loans last year, representing a total of 1.6 billion yuan, or about 200 million US dollars.

Meanwhile, more than 115 universities signed contracts with banks to offer the loans.

It's estimated that more than four billion Yuan, or about 500 million US dollars, will be offered to help students this year.