Appendix A(7)
STUDENT LOAN FUND
Background
The Student Loan Fund was established on 1 February 1980 by Resolution of the Legislative Council to finance loans to students at selected post-secondary institutions. The Fund is now governed by a Resolution made by the Legislative Council on 27 July 1983 under section 29(1) of the Public Finance Ordinance (Cap. 2).
Summary
Actual
Revised Estimate
Estimate
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
Smn
$mn
Smn
Smn
Smn
$mn
OPENING BALANCE
15
70
72
Loans to students
83
78
87
25
68
65
63
90
95
103
Repayments of loans
34
40
48
57
68
76
Deficit before Transfer from GRA
(49)
(38)
(39)
(33)
(27)
(27)
Transfer from GRA
104
40
35
30
25
20
Surplus/(Deficit) after Transfer from GRA
55
2
(4)
(3)
(2)
(7)
CLOSING BALANCE
70
72
68
65
63
56
55
Note: Details supporting the estimates of loans can be found in the Estimates-Volume 2 (Pages 139 to 140)
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