XN000022-1975-03-20 — Page 18

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THURSDAY, MARCH 20, 1975

LOAN SCHEME FOR BAPTIST COLLEGE STUDENTS

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THE GOVERNMENT TODAY ANNOUNCED A LOAN SCHEME TO ASSIST HONG KONG BAPTIST COLLEGE STUDENTS TO CONTINUE THEIR STUDIES SHOULD THEY BE AFFECTED BY THE COLLEGE'S DECISION TO INCREASE TUITION FEES.

THE COLLEGE HAS ANNOUNCED AN INCREASE OF FEES, EFFECTIVE FROM SEPTEMBER THIS YEAR, FROM $1,800 TO $2,800, FÖR AN ACADEMIC YEAR OF TWO SEMESTERS.

THE FINANCE COMMITTEE OF THE LEGISLATIVE COUNCIL HAS APPROVED AN ALLOCATION OF UP TO $1,485,000 FROM THE DEVELOPMENT LOAN FUND TO SET UP AN INTEREST-FREE LOAN SCHEME TO STUDENTS AT THE BAPTIST COLLEGE.

THE MAXIMUM AMOUNT OF LOAN FINANCE REQUIRED FOR 1975-76 WILL BE 45 PER CENT OF THE TOTAL INCOME THE COLLEGE MAY DERIVE FROM THE INCREASE OF TUITION FEES BY $1,000. THE ALLOCATION IS RENEWABLE ANNUALLY.

THE INTEREST-FREE LOANS TO STUDENTS WILL BE REPAYABLE IN 16 EQUAL QUARTERLY PAYMENTS OVER FOUR YEARS FROM THE TIME A STUDENT LEAVES THE COLLEGE.

LOANS UP TO A MAXIMUM OF $1,000 A YEAR WILL BE GRANTED ON THE BASIS OF A MEANS TEST TO STUDENTS WHO ARE IN NEED OF ASSISTANCE TO PAY THE INCREASE IN FEES.

A STUDENT WHO QUALIFIES FOR A LOAN IN ONE ACADEMIC YEAR WILL NOT AUTOMATICALLY RECEIVE THE SAME AMOUNT OF ASSISTANCE IN SUBSEQUENT YEARS AS HIS CIRCUMSTANCES MAY ALTER.

THE SCHEME WILL BE ADMINISTERED BY AN ALLOCATION COMMITTEE COMPRISING STAFF MEMBERS OF THE BAPTIST COLLEGE AND A REPRESENTATIVE FROM THE EDUCATION DEPARTMENT.

THE COMMITTEE WILL CONSIDER APPLICATIONS FROM CURRENT AND PROSPECTIVE COLLEGE STUDENTS AND WILL RECOMMEND LEVELS OF FINANCIAL ASSISTANCE IN INDIVIDUAL CASES.

IT WILL ALSO TAKE INTO ACCOUNT ANY SCHOLARSHIP, REMISSION OF FEES OR OTHER AWARD WHEN ASSESSING THE FINANCIAL RESOURCES OF APPLICANTS, ALTHOUGH ANY AWARDS MADE ON THE BASIS OF ACADEMIC EXCELLENCE WILL NOT DETRACT FROM AN APPLICANT'S ELIGIBILITY FOR ASSISTANCE.

THE RECOMMENDATIONS OF THE ALLOCATION COMMITTEE WILL BE SUBMITTED TO THE EDUCATION DEPARTMENT FOR FINAL APPROVAL AND FOR THE PREPARATION OF LOAN AGREEMENTS. LOANS WILL BE PAID BY THE TREASURY.

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