Improving the quality of training for no-fee preservice students is crucial in implementing the no-fee teacher education policy. This study used the Preservice Student Professional Growth Questionnaire to survey the level of professional knowledge of the first class (entering in 2007) of Northeast Normal University preservice students during the teaching internship phase of their program. These data were compared to the results of a previous survey by the authors of the university's 2005 class of for-fee preservice students in their internship phase. The comparative analysis found that (1) No-fee students have more knowledge of subject pedagogy related to teaching, as well as of new curricular reforms, than for-fee students, but scored lower than for-fee students on subject knowledge in the specialty of English; (2) Neither no-fee nor for-fee students have sufficient knowledge of educational theory or subject curriculum.