XN000022-1990-05-10 — Page 18

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THURSDAY, MAY 10, 1990

IN

LOCAL YEAR. WITH

THESE LOANS WERE AT PRESENT INTEREST FREE BUT STUDENT LOANS HONG KONG UNDER THE LOCAL STUDENT FINANCE SCHEME FOR STUDIES AT CENT A TERTIARY INSTITUTIONS ATTRACTED AN INTEREST OF 2.5 PER THE CHANGE WOULD THUS BRING THE JOINT FUNDING SCHEME INTO LINE THE LOCAL STUDENT FINANCE SCHEME.

NOTED THE SPOKESMAN

THAT INTEREST CHARGES WOULD START ΤΟ YEARS ACCRUE ONLY AFTER GRADUATION, WHEN THE STUDENTS WOULD HAVE FIVE WITHIN WHICH TO

REPAYMENT IN FULL. THE BURDEN OF INTEREST PAYMENTS TO STUDENTS WAS ESTIMATED TO BE HK$40 PER MONTH ON AVERAGE.

MAKE

THAT THE SPOKESMAN EXPLAINED

THE JOINT FUNDING SCHEME WAS ΤΟ ASSIST INTRODUCED IN 1983

NEEDY HONG KONG STUDENTS PURSUING

ΤΟ DESIGNED

AMELIORATE TERTIARY EDUCATION IN THE UK. THE SCHEME WAS

BY THE HIGHER UK FEES THE EFFECT CAUSED TO HONG KONG STUDENTS THOSE FROM OVERSEAS.

ON

THE BRITISH GOVERNMENT AND THE HONG KONG GOVERNMENT A YEAR CONTRIBUTED EQUALLY TO A POOL OF FOUR MILLION POUNDS STERLING FOR DISBURSEMENT OF GRANTS.

THE CASH LIMIT OF FOUR PRO RATA BASIS

SHOULD THE DEMAND FOR GRANTS EXCEED MILLION POUNDS STERLING, THE DIFFERENCE WAS MET ON A BY LOANS OFFERED BY THE HONG KONG GOVERNMENT.

IN 1989-90, THE SCHEME ASSISTED 1,620 STUDENTS TO THE AN AVERAGE OF 3,260 POUNDS STERLING PER STUDENT.

TUNE OF

A REQUEST FROM HONG THE SPOKESMAN NOTED THAT IN RESPONSE TO

KONG KONG, THE MINISTER OF STATE WITH SPECIAL RESPONSIBILITY FOR HONG

RECENT HIS

VISIT ANNOUNCED DURING

THAT THE UK GOVERNMENT WOULD TWO INCREASE ITS ANNUAL CONTRIBUTION TO THE JOINT FUNDING SCHEME FROM

POUNDS STERLING WITH MILLION POUNDS STERLING TO 2.2 MILLION

EFFECT

FROM 1991-92.

OF THE SCHEME, HONG KONG IN ACCORDANCE WITH THE PRINCIPLES

INCREASE, MAKING THE TOTAL POOL FOR WOULD NOW MATCH THE DISBURSEMENTS STAND AT 4.4 MILLION POUNDS STERLING A YEAR.

"THE AGREEMENT TO

GRANTS

THE

THE JOINT ·

CONTRIBUTE MORE HAS DEMONSTRATED COMMITMENT OF BOTH THE UK AND THE HONG KONG GOVERNMENTS TO FUNDING SCHEME," THE SPOKESMAN ADDED.

CHANGES TO THE JOINT HE POINTED OUT THAT THE ABOVE SCHEME WERE APPROVED SUBJECT TO THE PROVISION OF FUNDS BY THE COMMITTEE.

FUNDING FINANCE

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