Abstract: After the outbreak of Anti-Japanese War in 1937, most parts of the North China region had been occupied by the enemy and students in the occupied areas were forced into exile. Regarding a large number of exiles, on the one hand, considering the difficult life of students, as well as the purpose of training personnel for war, Chen Lifu began to provide financial aid to the students. On the other hand, he also aimed to attract more student to serve Kuomintang. Due to the soaring price and other reasons, the loan system was forced to be canceled in 1943, and the system of public funds was put into practice. The implementation of the loan system achieved a very good effect. Many students evidently benefited from the loan system and completed their studies. Simultaneously, a large number of outstanding talents had been cultivated and made a great contribution to the victory of the war.