Financial Assistance Scheme for Post-secondary Students (FASP)

	Important Notice
	Aim
	Eligibility
	Level of Financial Assistance
	Calculator for level of Financial Assistance
	Application Procedures
	Payment Arrangement
	Review Mechanism
	Repayment of Financial Assistance
	Deferment of Repayment
	Quarterly Repayment Calculator
	Change of Personal Particulars
	Statistics
	Frequently Asked Questions

Important Notice

1. Eligibility criteria and terms and conditions for payment of grant

The Government of the Hong Kong Special Administrative Region (“the Government”) is reviewing the eligibility criteria (including relaxation of the age limit and removal of qualification requirements/ restrictions) and removal of the requirement for repayment of grant under the Financial Assistance Scheme for Post-secondary Students (FASP). The result of the review will be announced later. Meanwhile, if you are not eligible for FASP according to the current eligibility criteria, please check the revised eligibility criteria to be announced in our website later. If you meet the revised eligibility criteria, you can submit your 2012/13 FASP application through your institution before the application deadline.

2. Loans offered under FASP and Non-means-tested Loan Scheme for Post-secondary Students (NLSPS)

The Government is also reviewing the interest rate of the loans under FASP, and the operation of NLSPS (you are eligible to apply for loan under NLSPS if you are eligible to apply for FASP in the 2012/13 academic year. For details, please click here). The terms and conditions of loans offered under FASP stipulated in this Guidance Notes are provisional and subject to changes pending the result of the review. The revised terms and conditions will be announced later and clearly set out in the “Notice of Offer under Financial Assistance Scheme for Post-secondary Students for 2012/13”, the “Undertaking to be Signed by a Student Receiving Loans” and the “Deed of Indemnity” to be issued with the “Notification of Result”. Please make sure that you have read and fully understood the revised terms and conditions of the loan and agree to the terms of, and undertake to abide by these revised terms and conditions before acceptance of the loan offered to you in the 2012/13 academic year.

The terms and conditions of loans offered under NLSPS are also provisional and subject to changes pending the result of the review. The revised terms and conditions will be announced later. If you would like to accept the loan under NLSPS by that time, please make sure that you have read the revised terms and conditions of the loan and undertake to abide by these revised terms and conditions.

Aim

FASP provides means-tested financial assistance to needy full-time students pursuing locally-accredited, self-financing post-secondary education programmes which will lead to a qualification at or above the levels of associate degree, higher diploma and/or professional diploma. The scheme aims to provide financial assistance to needy students so that no eligible students will be denied access to post-secondary education because of lack of means. Financial assistance is provided in the form of grant and/or loan. The grant is to cover tuition fees and academic expenses. The loan is for living expenses and is interest-bearing at 2.5% per annum chargeable from the commencement of the repayment period.

Eligibility

You are eligible to apply for FASP in the 2012/13 academic year if you:

	are a registered full-time student, aged 25 or below (i.e. born on or after 1 September 1986);
	are engaged in full-time locally-accredited self-financing post-secondary education programmes leading to a qualification at sub-degree (i.e. associate degree, higher diploma and/or professional diploma) level or above;
	(i) for students engaged in a sub-degree programme, have not obtained any qualifications at sub-degree or above@; or (ii) for students engaged in a top-up degree programme, have not obtained any qualifications at degree level or above, and have obtained a locally-accredited sub-degree qualification* ^ (including all the sub-degree programmes covered by FASP and the Tertiary Student Finance Scheme - Publicly-funded Programmes (TSFS)); or (iii) for students engaged in a degree programme, have not obtained any qualifications at degree level or above, and if you are in possession of a sub-degree qualification, such qualification must be a locally-accredited sub-degree qualification* ^ (including all the sub-degree programmes covered by FASP and TSFS);
	have not accepted financial assistance under any other publicly-funded student finance assistance scheme [e.g. the Continuing Education Fund (CEF)] for the programme/course covered by the application in the same academic year; and
	have the right of abode in the Hong Kong Special Administrative Region (Hong Kong) or have resided or have had your home in Hong Kong continuously for three complete years immediately prior to the commencement of the course. This does not cover students staying in Hong Kong holding student visas.

Your eligibility is restricted to only one eligible full-time course in any one academic year. If you have applied for the TSFS in 2012/13, you must not apply for FASP in the same academic year.

Full-time students of exclusively University Grants Committee-funded or exclusively publicly-funded places covered by TSFS are not eligible for assistance under FASP.

Students of distance-learning programmes of the Open University of Hong Kong should also refer to the Supplementary Guidance Notes for FASP/NLSPS for the eligibility criteria and application procedures. Please click here for the Supplementary Guidance Notes.

If you are eligible to apply for assistance under FASP in the 2012/13 academic year, you may also apply for subsidy under the Student Travel Subsidy (STS) Scheme.Students pursuing distance-learning programme are not eligible to apply for the STS Scheme.

If you are eligible to apply for assistance under FASP in the 2012/13 academic year, you are also eligible to apply for assistance under the Non-means-tested Loan Scheme for Post-secondary Students (NLSPS). The NLSPS provides non-means-tested loan(s) to students to meet tuition fees, academic expenses and basic living expenses. Please click here, for the details of the NLSPS.

@ You should use Form G / Form S to submit your application

* You should use Form D / Form SD to submit your application

^ Please check with the institution which conferred you the sub-degree qualification or click here for the "Register of Locally-accredited Programmes"

Level of Financial Assistance

The maximum level of assistance under FASP is made up of the following components:

The ceilings of the above assistance will be reviewed annually.

Calculation of Financial Assistance

Your eligibility for financial assistance depends on the financial position of your family. Your level of assistance will be determined by a two-tier means test, details as follows-

(a)	First, compare your Adjusted Family Income (AFI) against the "Ready Reckoner" to get the first percentage of grant and loan, then apply this percentage to calculate (i) the tuition fee grant; (ii) academic expenses grant; and (iii) living expenses loan.
(b)	Second, compare the Net Asset Value of your family against the "Sliding Scale of Asset Value for Discounting Financial Assistance" to get the first percentage of grant and loan, then adjust the level of grant and loan calculated under paragraph (a) by the discount factor to get your final level of grant and loan.

You may have a rough idea of your level of assistance by trying the calculator in the Agency's Homepage.

Calculator for level of Financial Assistance

There is a calculator to enable you to obtain a rough assessment of the amount of financial assistance you might obtain under FASP. The Agency will normally accept reported information which is supported by documentary proofs. If proper documentary proofs cannot be provided or the documents provided cannot substantiate the reported income / asset information of the family concerned (e.g. claim for prolonged unemployment is not substantiated or only self-written statement of income is provided), the Agency may need to make adjustments and apply benchmark figures based on the statistical information provided by the relevant government departments, such as the Census and Statistics Department, the Rating and Valuation Department and the Transport Department, etc. to assess the income and/ or net value of the assets held by the family members concerned. The Agency may apply projected figures in the assessment of family income if necessary.

Application Procedures

1. Submission of Applications -

	Application forms can be obtained from your institutions. Applicants must study the Guidance Notes carefully before completing the form.
	Applicants who have not acquired any sub-degree qualification, and are engaged in sub-degree or degree programmes should use Form G / Form S. Form S is a simplified application form for applicants eligible for Form G. You may choose to submit Form S instead of Form G if and only if: (i) you have an unmarried sibling residing with you and he/she has submitted or is submitting a Form G / Form D for FASP or Form G for TSFS for the 2012/13 academic year; and (ii) you are not married.
	Applicants who are graduates of locally-accredited sub-degree programmes pursuing degree/ top-up degree studies should use Form D / Form SD. Form SD is a simplified application form for applicants eligible for Form D. You may choose to submit Form SD instead of Form D if and only if: (i) you have an unmarried sibling residing with you and he/she has submitted or is submitting a Form G / Form D for FASP or Form G for TSFS for the 2012/13 academic year; and (ii) you are not married.
	All first-time Form D / Form SD applicants should ask the institution which conferred you the sub-degree qualification to complete Part J of Form D / Form SD before you submit your application to your institution of degree/top-up degree studies. You must also attach documentary proofs (e.g. testimonial, graduation certificate, letter issued by institution, etc.) of your sub-degree qualification with your application.
	Students of distance-learning programmes of the Open University of Hong Kong should also refer to the Supplementary Guidance Notes for FASP/NLSPS for the eligibility criteria and application procedures. Please click here for the Supplementary Guidance Notes.
	Applicant should return the duly completed application form together with photocopies of supporting documents (e.g. copies of income proof and bank accounts showing all transactions in previous financial year, etc.) to his/her institution before the application deadlines.

2. Interview

	If necessary, arrangements will be made for you and your father or mother to come to the Agency for an interview.
	You will be required to bring to the interview for our examination all the originals of the following supporting documents - (i) income proof, such as Employer's return of Remuneration and Pensions Form to Inland Revenue Department (IR56B), Tax Demand Note, pay slips, properly signed Profit and Loss Accounts for business, etc. (ii) asset proof, such as all bank passbooks and monthly statements for savings accounts, deposit slips for time deposits, properly signed Balance Sheet for business, etc. (iii) receipts for medical expenses, and (iv) any other supporting documents as specially requested.
	Before the interview, your father or mother will be required to make a declaration at this Agency in accordance with the Oaths and Declarations Ordinance (Chapter 11 of the Laws of Hong Kong) to declare that the information given in the application is true and complete. During interview, the Agency staff may need to seek clarifications/ additional information on the information already provided.

3. Notification of Result

If you wish the Agency to notify you upon receiving your application from the institution, please write your name and address on the 'Application Receipt' [FASP/7(2012)]. The Agency will return the Receipt to you first to confirm that your application has reached us. After initial checking of your information provided, the Agency will issue an 'Acknowledgement of Receipt' within 2-3 weeks.

In general, if the information you provide is complete, you will be notified of the FASP result within about 2 months from the date of the Agency's acknowledging receipt of your application. However, the processing time will vary, depending on the particular circumstances of individual applications. Some examples leading to prolonged processing time are provided below:

1. If the information provided is incomplete or inconsistent, the Agency will require you to give an explanation for the discrepancy or provide supplementary information;
2. If your or your sibling’s previous application(s) under FASP/TSFS has/have been selected for authentication, the processing of your current year’s application will be withheld pending the outcome of the home visit;
3. If the Agency has to seek additional information from your institution (e.g. for repeaters, the actual amount of tuition fees payable; and for students on graduation-tied placement with pay, the amount of income received/receivable).

The Agency will issue the first batch of notifications of result around mid-July 2012 when the maximum amount of loan is available.

4. Non-means-tested Loan Scheme for Post-secondary Students (NLSPS)

If you have indicated your wish to apply for the Non-means-tested Loan Scheme for Post-secondary Students (NLSPS) in Part C of the application, the Agency will process your NLSPS application first. After completion of your NLSPS application, the Agency will proceed to process your means-tested FASP application. Please click here to learn about the processing time of the NLSPS. The Agency will issue an 'Acknowledgement of Receipt of FASP Application' when we commence processing your FASP application.

Payment Arrangement

The approved grant and loan will normally be paid in two equal instalments. If you accept the grant and/or loan offered under FASP, you have to submit the following documents to the Agency in person on or before the specified date in the notification of result:

1. the Undertakings duly completed and signed by you and attested,
2. the Deed of Indemnity duly executed by your indemnifier and attested,
3. the completed “Student and Indemnifier Details Input Form”
4. photocopies of the Hong Kong Identity Cards of yourself, your indemnifier(s) and your witness(es). The photocopies should be signed on the face and certified as true copies by the respective cardholders. The signatures should be the same as those shown on the Undertakings and the Deed of Indemnity, as appropriate,
5. a completed authorisation form if you authorise another person to hand in the above documents on your behalf. You can make use of the form printed on the last page of the 'Notice of Offer';
6. documentary evidence showing the indemnifier's current employment status in Hong Kong (e.g. the latest Tax Demand Note issued by the Inland Revenue Department, written certification of the indemnifier’s job title and wages in the last 3 months issued by the employer(s), a copy of his/her bank passbook / bank statements showing his/her salary in the last 3 months, or valid Company’s Business Registration Certificate issued by the Companies Registry if the indemnifier is self-employed),
7. documentary evidence showing the indemnifier’s residential address in Hong Kong within the latest 3 months and current office/employer’s business address in Hong Kong, and
8. documentary evidence showing indemnifier’s financial position upon request by the Controller, Student Financial Assistance Agency (C, SFAA)

Please refer to the 'Notice of Offer' for the qualifications of an indemnifier or a witness.

When you hand in the documents to the Agency, please also bring with you the notification of result of your application.

You can choose to accept the loan offered either in full or in part. When you complete the Undertakings and related documents, you need to state the amount of grant and loan that you wish to accept for the whole academic year. If you return an acceptable Undertaking, the Deed of Indemnity together with required documentary proofs, the Student and Indemnifier Details Input Form and photocopies of HKID cards by the specified deadline, the Agency will credit the first instalment of grant and/or loan payment to your designated bank account within 5 to 6 weeks from the deadline for return of documents. If you miss the deadline, payment of grant and loan will be deposited into your designated bank account around 6 weeks after the Agency receives all the completed documents. The second instalment (covering the remaining grant and loan balance) will normally be paid in January or February 2013. If you have enrolled in a programme which is charged on credit-based mode, the second instalement of your financial assistance will only be paid after your institution has confirmed with this Agency the total credits taken by you for this academic year. Depending on the date of issue of the notification of result and the date of submission of the Undertakings and Deeds of indemnity, the financial assistance may be credited to your designated bank account in one single instalment or at a date later than February 2013.

Review Mechanism

If you have sufficient grounds / justifications for application for review of your level of financial assistance, you may do so within three weeks from the date of notification of result. Each applicant may submit only one application for review for each academic year. You should give detailed justifications in the "Application Form for Review under FASP" and return it to the Appeal Section of FASP of this Agency together with documentary evidence in support of your application for review. The form is also available at the Agency and your institution.

Application for review must be lodged within three weeks from the date of notification of result. However, if there is a substantial change in the financial circumstances of your family after the submission of your application which may significantly affect the financial support you receive from your family, you may submit an application for review by the following deadline:

1. within 3 weeks from the date of notification of result; or
2. on or before 31.3.2013, whichever is later.

In general, you will be notified of the result of the review within 10 weeks from the date of the Agency's acknowledging receipt of your application for review. However, the processing time will be longer if (a) the information provided is incomplete and the Agency requires you to give further explanation or provide supplementary information; or (b) the case has to be referred to the Review Committee (RC) for flexible treatment / final decision in view of special financial circumstances involved. The Review Committee is composed of representatives from student unions and institutions covered by FASP.

You may choose to accept the assistance first without waiting for the result of your application for review. Should you do so and if the level of financial assistance after review is higher than the original offer, the Agency will arrange to pay you the difference#. On the other hand, if subsequent processing of your application for review indicates that the amount of assistance offered in the original assessment was higher than your actual entitlement, you will be required to refund to the Agency the overpaid amount upon request.

# If you accept the additional assistance, you must complete and submit to the Agency the required documents stipulated in "Payment Arrangement"

Repayment

If a grant recipient fails to complete a locally-accredited programme and obtain the intended qualification** within 6 years from the first disbursement of financial assistance for whatever reasons, the grant shall be repaid in one lump sum without interest (but should be repaid before the commencement date of repayment by instalments, i.e. three months immediately preceding the due date of the first quarterly repayment instalment), or by 40 equal quarterly instalments with interest at 2.5% per annum within a period of 10 years upon -

whichever is earlier.

** If the grant recipient applies for FASP via Form G or Form S and is engaged in a sub-degree or degree programme, the intended qualification refers to associate degree, higher diploma or professional diploma qualification or above. If the grant recipient is a sub-degree graduates engaged in a degree or top-up degree programme and applies for FASP via Form D or Form SD, the intended qualification refers to a degree or top-up degree qualification or above.

If you have received tuition fees loan (TF loan) under FASP in the 2005/06 academic year or before, you will be required to repay the loan and interest at 2.5% per annum in full in 40 equal quarterly instalments within a period of 10 years upon -

whichever is the earliest.

If you have received living expenses loan (LE loan) under FASP (which was introduced with effect from the 2008/09 academic year), you will be required to repay the loan and interest at 2.5% per annum in full in 20 equal quarterly instalments within a period of 5 years upon -

whichever is the earliest.

If you cease to be a registered full-time student or withdraw from / suspend / defer your studies before graduation, you must immediately notify the C, SFAA in writing. Under such circumstances, you will be required to start repayment of the grant and/or loan immediately. The length and commencement date of the repayment period shall be decided by the C, SFAA.

If you do not receive a notification advising you of the commencement of repayment and the repayment schedule within 6 months after graduation or termination of studies, you should notify this Agency in writing immediately

Quarterly repayment instalments will fall due on 1 January, 1 April, 1 July and 1 October each year. Quarterly demand notes will be issued, as far as practicable, 14 days before each repayment due date. If a demand note is not received 7 days before each due date, you should approach the Agency by phone or in person to obtain a duplicate demand note without delay.

Non-receipt of demand note for repayment does not exempt a grant/ loan recipient from the requirement to repay the instalment due on or before the due date. If the payment of any instalment is delayed by 7 days or more, you will be required to repay to the Government a surcharge of 5% of the outstanding amount of that overdue instalment and any recovery costs incurred by the Government due to the late payment.

Default in repayment may give cause for the Government’s instituting legal proceedings against you / your indemnifier(s) in order to recover the outstanding grant / loan, interest, surcharge and any recovery costs incurred by the Government.

Repayment can be made : -

	in Cash;
	by Cheque, Cashier Order and Bank Draft;
	by Automated Teller Machines;
	by Payment-by-Phone services; and
	by e-Banking services.

Repayment can also be made by a lump sum or partially.

Deferment of Repayment

FASP recipients, who encounter difficulties in repaying the financial assistance on grounds of full-time studies, financial hardship or serious sickness may apply to the Agency for deferment of repayment. Applications for deferment of repayment of financial assistance will be considered on merits of individual cases. For successful applications for deferment of repayment of grant/ TF loan/ LE loan, repayment will be made in accordance with a revised schedule, or on any other terms as decided by the C, SFAA. Interest will not accrue during the deferment period, which is from three months immediately preceding the start date of the approved deferment to three months immediately preceding the date of resumption of repayment. Applications should be submitted in writing to the Agency before the due date(s) of the instalment(s) under application. For application by fax, the date of receipt of the fax will be treated as the date of application. For application by post, the postmark date on the envelope will be regarded as the date of application. Application forms are available at the Agency, the Agency's Homepage (http://www.sfaa.gov.hk/eng/public/index.htm#fasp) and your institution.

Change of Personal Particulars

	If there is change in your residential address, term-time address, contact telephone number or bank account number to which the financial assistance is credited, you should notify the Agency by using the form "Notification of Change of Personal Data"(98KB) (FASP/C/1A) form. If there is change in your course or institution of study, or the tuition fees payable, you should notify this Agency by using the form "Notification of Change of Institution or Course Data"(62KB) (FASP/C/1B) form.
	If your have deferred, suspended or withdrawn from your study, you should notify this Agency immediately in writing.
	If you move from your present address or any other address into which you have subsequently moved before you fully repaid the grant / loan, interest, surcharge and any outstanding amount(s), you should complete and return to the Agency a "Repayment of Financial Assistance under FASP: Notification of Change of Address"(114KB)(SFAA198) form.
	You are required to notify the Agency in writing immediately of any change of address of your indemnifier(s).
	The above forms can be obtained from the institutions or this Agency. You can also download the forms from our homepage.