On May 13th, TapTechNews reported that the official app of the National Development Bank, 'National Student Financial Aid,' was recently released for mobile clients, upgrading the NSFA service system from the computer end to the mobile end, further facilitating student loan processing.
Students can download the 'National Student Financial Aid' app for free from the official website or mobile app store, and complete NSFA services on their mobile phones, including applying for NSFA loans, uploading contract attachments, checking loan status, applying for principal deferment, and seeking business consultation.
For example, in the case of applying for a renewal of the home region credit student aid loan, students can submit the renewal application and complete online signing through the app after real-name authentication, with the process taking about 3 minutes. Once the university teacher enters feedback, the entire application process is completed.
An official from the Social and Livelihood Business Department of the National Development Bank stated that the NDAB will collaborate with the education department to promote and implement the 'National Student Financial Aid' app, collect user feedback and suggestions, continuously update and iterate the app, and optimize and enrich its features to improve financial services.
TapTechNews found from the official website of the National Development Bank that the NDAB is the main executor of national student financial aid loans. In 2023, the NDAB issued 59.93 billion RMB in student financial aid loans, supporting 5.635 million students from financially disadvantaged families. By the end of 2023, the NDAB had issued a total of 376.7 billion RMB in student financial aid loans, supporting 20 million students from financially disadvantaged families.