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Aug. 25 - The Beijing branch of Industrial and Commercial Bank of China has recovered defaulted student loans worth of 800,000 yuan, or about 106,000 US dollar, since mid-July when it blacklisted those who failed to make payments for a long time without any explanation.
The Beijing Morning Post reported on Saturday that the money the bank recovered were from about 100 students, and some others on the list have accounted for their difficulties and expressed the wish to repay their loans in future. On July 17, the bank published the names of the 1,411 students who owed a total of 18.58 million yuan, along with some private information including their Identity Card numbers and addresses on the website of China Higher-education student information. Faced with the criticism for exposing the students' privacy, the bank said the move was to remind them to repay the debt as soon as possible. The last three digits1 of the ID numbers have been erased2 since the notice has worked. The report said some students could not pay back their loans because of the tight job market, and others were simply irresponsible for their debt.
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