The Non-means-tested Loan Scheme for Post-secondary Students [for full-time students who are covered under the Financial Assistance Scheme for Post-secondary Students (FASP)] Important Notice Aim Eligibility Maximum Level of Loan Amount Interest and Administrative Fee How to Apply Payment of Administrative Fee upon Application Notification of Result Payment of NLSPS Loan Application for Second NLSPS Loan Cancellation of NLSPS Loan Change of Personal Particulars Loan Repayment Deferment of Repayment Quarterly Repayment Calculator Statistics Important Notice The Government of the Hong Kong Special Administrative Region is reviewing the operation of the Non-means-tested Loan Schemes for Post-secondary Students (NLSPS). The result of the review may have impact on the eligibility, loan amount that can be borrowed, and repayment terms and conditions. Subject to the approval of the proposals by the Legislative Council, the Government will implement the proposals in phases from the 2012/13 academic years onwards. The terms and conditions of an NLSPS loan stipulated in these Application Guidance Notes are provisional and subject to changes pending the result of the review mentioned in paragraph 1 above. The finalised terms and conditions will be announced later and will be clearly stipulated in the “Notice of Offer of Loan under the Non-means-tested Loan Scheme for Post-secondary Students (NLSPS) for 2012/13”, the “Undertaking to be Signed by a Student Receiving Loan” and the “Deed of Indemnity” to be issued with the Notification of Result. Please ensure that you have read and fully understood the revised terms and conditions of the NLSPS loans and agree to the terms of, and undertake to abide by these revised terms and conditions before acceptance of the NLSPS loans offered to you in 2012/13 academic year. The public consultation on the improvement proposals ended on 29 February 2012. Details of the improvement proposals of the review are available on a dedicated website on the Education and Training Cluster of the GovHK portal. Aim The NLSPS provides financial assistance in the form of loan(s) to eligible students covered under the Financial Assistance Scheme for Post-secondary Students (FASP) to meet their tuition fees, academic expenses and basic living expenses. For students who are eligible under the Tertiary Student Finance Scheme - Publicly-funded Programmes (TSFS), please click here to view the details of the Non-means-tested Loan Scheme (for full-time tertiary students who are covered under TSFS). For students who are not covered under the TSFS and FASP, please click here to view the details of the Non-means-tested Loan Scheme (for eligible students who are not covered under the TSFS and FASP). Eligibility You may apply for the NLSPS loan 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 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 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); 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 3 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 particular academic year. Full-time students of exclusively University Grants Committee-funded or exclusively publicly-funded places covered by the TSFS are not eligible for assistance under the NLSPS. Students of distance-learning programmes or on-line programmes, please also refer to the Supplementary Guidance Notes for FASP/NLSPS for Students Taking Distance-learning Programmes for the eligibility criteria and application procedures under FASP/NLSPS. You can obtain the Supplementary Guidance Notes from your institution or click here. Even if you are eligible under the above circumstances, the Controller, Student Financial Assistance Agency (C, SFAA) reserves the right to require you to submit supplementary documents/information on individual merits; and the final approval of your NLSPS application will still rest with the C, SFAA. If you and/or your indemnifier(s) has/have any arrears of grant and/or loan and/or student travel subsidy under any financial assistance/loan scheme(s) administered by the Student Financial Assistance Agency (the Agency), the C, SFAA reserves the right to withhold processing of your application(s) or release of loan. Maximum Level of Loan Amount Students who apply for the NLSPS only, i.e. have not applied for assistance under the FASP or fail to obtain assistance under the FASP, may receive loan(s) up to the annual tuition fees payable for the course under application, an academic expenses of HK$4,540 and a loan for basic living expenses. If you apply for financial assistance under both the FASP and the NLSPS, the maximum financial assistance you may receive under these two schemes is capped at the annual tuition fees payable for the course under application, an academic expenses of HK$4,540, and a loan for basic living expenses. If you obtain financial assistance under the FASP, the maximum amount of NLSPS loan will be up to the difference between the amount of financial assistance you may receive under the FASP and the maximum financial assistance you may receive under these two schemes. The maximum amount of loan for basic living expenses for the 2012/13 academic year will be announced in about July 2012.Your NLSPS Notification of Result will also specify the maximum amount of loan for basic living expenses that you may accept. Interest and Administrative Fee The NLSPS operates on a full-cost recovery basis. Interest rate is set at the Government of the Hong Kong Special Administrative Region (the Government)'s no-gain-no-loss rate which is currently set at 3.409% below the average best lending rate (BLR) of the note-issuing banks, plus a risk-adjusted factor which seeks to cover the Government's risk in disbursing unsecured loan . Interest is charged at the prevailing NLSPS interest rate once the loan is drawn down and throughout the repayment period until the NLSPS loan is fully repaid. The Director of Accounting Services will review the no-gain-no-loss interest rate by the end of each month according to any changes in the average BLR in the month and will adjust the rate with effect from the first day of the following month. Please refer to What's New for the current NLSPS interest rate. An administrative fee, to cover the full costs of processing and administering the NLSPS loan(s), is chargeable for each application: 　 The administrative fee is chargeable as from the submission of the first application and annually thereafter until the NLSPS loan(s) and the interest accrued thereon are fully repaid. The administrative fee will be charged on each loan account on an academic year basis. The administrative fee for the coming academic year is payable on 1 October each year. If there is any unsettled balance under the loan account on or after 1 October, the administrative fee for the coming academic year will be chargeable and will be demanded for payment in the demand note with due date falling on 1 January next year. 　 The administrative fee is a fixed fee and will not be charged on a pro-rata basis nor divided by instalments. Administrative fees paid are not refundable nor transferable. 　 Under normal circumstances, loan recipients will not receive any demand note before commencement of loan repayment. Thus, the administrative fee(s) charged during the study period will be demanded for settlement in the first demand note with due date falling on 1 January of the year upon commencement of loan repayment. In such circumstances, loan recipients may be required to settle administrative fees for more than one year in the first demand note. 　 The administrative fee is subject to review regularly. The administrative fee payable in the 2012/13 academic year for applicants of the NLSPS is HK$180. Separate loan accounts will be created on a course basis for applicants who obtain loans for two or more courses. The interest and administrative fee will be calculated separately for each account. Request for merging loan accounts of different courses will not be accepted. If an applicant obtains loans under the NLSPS as well as other loan scheme(s) administered by the Agency in respect of the same course, separate loan accounts will be created under the respective loan scheme(s). Interest and administrative fee will be calculated separately for each account. Request for merging loan accounts of different schemes will not be accepted.

How to Apply

For Continuing Students:

	If you wish to apply for the NLSPS only, you should use the following NLSPS application forms:
		Form 2 [NLSPS/2B(2012)]- applicable to applicants pursuing sub-degree or degree programmes who have not acquired any sub-degree qualification; or
		Form 3 [NLSPS/3B(2012)]- applicable to applicants pursuing degree or top-up degree studies who have already possessed a locally-accredited sub-degree qualification.
	Please click here to download the application form concerned. You should read the relevant Guidance Notes carefully before completing the application form.
	If you wish to apply for financial assistance under both the FASP and the NLSPS, please refer to the FASP Guidance Notes and use the following FASP application forms:
		Form G [FASP/GB(2012)] or Form S [FASP/SB(2012)] - applicable to applicants pursuing sub-degree or degree programmes who have not acquired any sub-degree qualification; or
		Form D [FASP/DB(2012)] or Form SD [FASP/SDB(2012)] - applicable to applicants pursuing degree or top-up degree studies who have already possessed a locally-accredited sub-degree qualification.
	Application forms are obtainable at your institution (e.g. Student Affairs Office and/or Academic Registry) or the Agency.
	You should submit the completed form together with the following supporting documents to your institution before the deadline. Your institution will hand in your application to the Agency for processing:
	(i)	a photocopy of your Hong Kong Identity (HKID) Card;
	(ii)	a photocopy of your Student Identity Card and/or any documentary proof showing your course of study in the 2012/13 academic year and your student identity;
	(iii)	a photocopy of the first page of the bank passbook of your savings account or bank statement showing your name (same with the name in your HKID Card) and the bank account number;
	(iv)	the customer copy of the bank pay-in slip or the original automatic teller machines (ATM) transaction advice for the administrative fee paid (Please click here to view the details of payment of administrative fee); and
	(v)	a photocopy of your locally-accredited sub-degree qualification (e.g. testimonial, graduation certificate, letter issued by institutions, etc.) (applicable to students who submit Form 3).
	Students of distance-learning programmes or on-line programmes should also refer to the Supplementary Guidance Notes for FASP/NLSPS for Students Taking Distance-learning Programmes for the eligibility criteria and application procedures under FASP/NLSPS. You can obtain the Supplementary Guidance Notes from your institution or click here.

For New Students

Details of application arrangement will be announced in August 2012.

Payment of Administrative Fee upon Application

	If you apply for financial assistance under the NLSPS only, you are required to pay the administrative fee upon application. The administrative fee payable for the 2012/13 academic year is HK $180.
	Please pay the administrative fee IN CASH at any branch of the Hongkong and Shanghai Banking Corporation (the Bank) by using the pre-printed bank pay-in slips which are obtainable from your institution or the Agency. Payment by cheque is not acceptable. You may also transfer the administrative fee to the Agency's account no. 044-171635-001 through ATM of the Bank. During the ATM transaction, please choose "Transfer" service and press "Yes" for "Do you need to take a transaction advice?". If you fail to produce the original transaction advice for your NLSPS application, you have to apply for a documentary proof from the Bank showing the transaction concerned.
	If you apply for financial assistance under both the FASP and the NLSPS and use the FASP application form, the administrative fee is payable only when you decide to accept the NLSPS loan.

Notification of Result

	If the information you provided is complete, the Agency will normally issue the Notification of Result to you (a) within 3 weeks from the date of the Agency's issue of the “Acknowledgement of Receipt of Application” or (b) around mid-July 2012 when the loan ceiling for living expenses is determined; whichever is later.
	If the information provided is incomplete or if there are discrepancies in the information provided, the Agency may require you to give an explanation or provide supplementary information, in which case the processing time will be longer.
	If you apply for financial assistance under both the FASP and the NLSPS, the Agency will not be able to determine the loan amount you may be entitled under the NLSPS until your FASP results are known. In this instance, you will be issued a letter asking whether you would wish to obtain the NLSPS loan up to its maximum level, i.e. the annual tuition fees payable for the course under application, an academic expenses of HK$4,540 and a living expenses loan. If you obtain the NLSPS loan in this manner, it may be necessary to make adjustments to the NLSPS amount loaned after your FASP results are known.

Payment of NLSPS Loan

	The loan you obtain under the NLSPS will be credited to your designated bank account by two equal instalments after the Agency's receipt of your duly completed "Undertaking to be signed by a Student Receiving Loan" (Undertaking), "Deed of Indemnity under the NLSPS" (Deed of Indemnity), "Student, Indemnifier and Witness Details Input Form (Form A and Form B)” and the required documentary proofs mentioned in the Notice of Offer in one complete set. The payment dates are the NLSPS loan draw down dates and will be set by the Agency.
	If you decide not to accept the approved NLSPS loan, you must notify the Agency by completing the Non-acceptance of NLSPS Loan form [SFAA 164(2012)] and return the form by mail, by fax or in person. However, if you request to re-accept the NLSPS loan after you have submitted the Non-acceptance of NLSPS Loan form, you will be considered as applying for a second NLSPS loan. Your application will be considered by the C, SFAA on individual merits.
	In completing the Undertaking, Deed of Indemnity and the “Student, Indemnifier and Witness Details Input Form (Form A)”, you will have to state the amount of loan that you wish to borrow for the whole academic year (i.e. the sum of the first and second instalments). If you return the Undertaking, the Deed of Indemnity, the “Student, Indemnifier and Witness Details Input Form (Form A and Form B)” and the required documentary proofs mentioned in the Notice of Offer in one complete set by the specified deadline, the Agency will credit the first instalment of loan payment to your designated bank account within 5 to 6 weeks from the deadline for return of the documents. If you miss the deadline, the loan payment will be deposited into your designated bank account around 6 weeks after we receive all your duly completed documents. The second instalment (covering the remaining balance) of the NLSPS loan 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 instalment of your loan will only be paid after your institution has confirmed with this Agency the total credits taken by you for this academic year.
	After the disbursement of the NLSPS loan to your bank account has been arranged, the Agency will issue a Remittance Advice to you stipulating the amount of the NLSPS loan to be disbursed and the loan disbursement date for your reference. Please note that the disbursement date stipulated in the Remittance Advice is the NLSPS loan draw down date of the specified NLSPS loan.
	Neither your application nor the approval for an NLSPS loan carries any implication that the payment due date(s) of your tuition fee(s) has/have been or will be deferred automatically by your institution. If the payment of the NLSPS loan to you for any instalment cannot be made on or before the due date(s) of your tuition fee(s) payment for whatever reason(s), it is your own responsibility to liaise with your institution to see if any prior arrangements should be made in respect of your tuition fee(s) payment. This Agency will not bear the responsibility for any loss or damage caused to you due to your late settlement of tuition fee(s) for whatever reason(s).
	The Agency reserves the right not to accept your loan documents if you submit the loan documents to accept the NLSPS loan after 30 June 2013 since the respective academic year has been normally over, unless your notification of result is issued within the immediate past 2 months.
	If you and/or your Indemnifier(s) has/have any arrears of grant and/or loan and/or student travel subsidy under any financial assistance/loan scheme(s) administered by the Agency, the C, SFAA reserves the right to withhold the payment of loan to you.

Application for Second NLSPS Loan

You may apply for a second NLSPS loan which is equivalent to the difference between the maximum amount of the NLSPS loan that you may borrow and the NLSPS loan that you have already accepted on your NLSPS loan application. An administrative fee is payable on application. Applications must be made by completing the "Application for a Second NLSPS Loan" form [SFAA 166 (2012)] and submitting the completed form in person or through the authorised person to the Agency within 3 months from the commencement of the course. The form is obtainable at your institution or the Agency. Please click here to download the application form concerned. Any late application for a second NLSPS loan will not be accepted.

Cancellation of NLSPS Loan

If you wish to apply for cancellation of your NLSPS loan not yet been disbursed to you, you should complete the "Application for Cancellation of NLSPS Loan" form [SFAA 167 (2012)] and return it to the Agency. Please click here to download the application form concerned.

In the event that the payment of the NLSPS loan is being/has been made to you, cancellation of the NLSPS loan will not be accepted. You will be liable to the NLSPS loan paid and the interest accrued thereon and to settle/repay the Agency the full amount of the NLSPS loan so disbursed and the interest accrued thereon plus any recovery costs incurred by the Government. Alternatively you may choose to make early repayment of the NLSPS loan.

Change of Personal Particulars

	If there are subsequent changes in your name, residential or correspondence address, residential telephone number, other contact telephone number or bank account for receiving loan, you should immediately notify the Agency by using the “Notification of Change of Personal Data” form [FASP/C/1A(2012)]. If there is a change of your institution and/or course of study, year of study or your tuition fees paid/payable, you should immediately notify the Agency by using the “Notification of Change of Institution/Course Data” form [FASP/C/1B(2012)].
	The above forms are obtainable at your institution or the Agency. Please click here to download the forms concerned. Failure in timely provision of changes of information to the Agency will cause delay in processing your application, or in making payment(s) to you, or lead to additional loan being drawn down and extra interest accrued therefrom.
	If you decide to withdraw from, suspend or defer studies or apply for leave of absence for whatever reasons, you must immediately notify the C, SFAA in writing for the Agency to take follow up action(s), including but not limited to withhold the payment of the NLSPS loan to your bank account.

Loan Repayment

	The NLSPS loan(s) borrowed by you and the interest accrued thereon are repayable in 40 equal quarterly instalments within 10 years upon your (i) graduation; or (ii) termination of studies; or (iii) lapse of 6 years from the first disbursement of the NLSPS loan, whichever is the earliest. You may choose to make early repayment of the NLSPS loan(s). If you do not receive commencement of repayment letter and repayment schedule within 6 months after your graduation, you should notify this Agency in writing immediately.
	Quarterly repayment instalments will normally fall due on 1 January, 1 April, 1 July and 1 October each year.
	If the settlement is delayed by 7 days or more, you will be required to settle with the Government the amount of the overdue instalment, any outstanding annual administrative fee(s) together with any interest loss and recovery costs incurred by the Government due to the late settlement(s) relating to the previous instalment(s).
	You are required to pay an administrative fee annually until the NLSPS loan(s) and the interest accrued thereon are fully repaid. The annual administrative fee is chargeable on a loan account basis.
	Repayment can be made :- in cash; by cheque, Cashier Order and Bank Draft; by Payment-by-Phone Service; by Automated Teller Machines; in a lump sum; in a partial repayment; and by e-Banking Services.

Deferment of Repayment

If you have difficulties in repaying the NLSPS loan(s) due to further studies on full-time courses, financial hardship or serious illness, you may apply for deferment of loan repayment. Application for deferment of loan repayment will be considered on its merits and should be submitted in writing to the Agency before the due date(s) of the instalment(s) under application. Relevant application forms are available at your institution or the Agency. You may also click here to download the application form concerned. Application for deferment of loan repayment is only applicable to the total amount due for settlement, which may comprise administrative fee(s), if any, interest(s) and outstanding principal(s). Application for deferment of only a part of the amount to be settled will not be acceded to. Interest will accrue over the period of deferment. The deferred loan may be repaid on a revised schedule with fewer number of quarterly instalments and at a larger amount or on any other terms as decided by the C, SFAA. Interest accrued during the deferment period will be capitalized and form part of the outstanding principal for the calculation of the quarterly amount to be repaid in the remaining instalments. In addition, for deferment of more than 12 calendar months, the interest accrued during the deferment period will be capitalized once every 12 calendar months. Loan recipients who have been granted approval for deferment of the NLSPS loan repayment are still required to pay for an annual administrative fee during the period of deferment until the NLSPS loan and interest accrued thereon are fully repaid.