Financial Assistance Scheme for Post-secondary Students (FASP)
Financial Assistance Scheme for Post-secondary Students (FASP)

Loan Activation

  • Interest-free Deferral of Student Loan Repayment
    The Finance Committee of the Legislative Council approved on 15 February 2022 an extension of the interest-free deferral of loan repayment for student loan repayers for another two years from 1 April 2022. Please click here for details.
  • You are required to repay fully your FASP loan, which shall normally commence on 1 December of the year of your graduation or when the course has officially ended, until it is repaid in full. The first instalment of loan repayment will normally fall due on 1 January or 1 July of the following year of your graduation. Read More
  • With a view to facilitating better financial management of loan recipients, loan recipients who have obtained FASP loans and without any loan accounts repaying with quarterly repayment arrangement under other financial assistance/loan schemes administered by the SFO are required to repay their loans by monthly instalment. The loan borrowed by you and the interest accrued thereon are repayable in 15 years (‘Repayment Period’) by 180 equal monthly instalments, or in a shorter Repayment Period by equal monthly instalments as agreed by the SFO. Whereas if as determined appropriate by the SFO, the loan borrowed and the interest accrued thereon are repayable within the Repayment Period by equal quarterly instalments. Read More
  • If you:
    • cease to be registered as a full-time student;
    • withdraw or are suspended from or defer your studies in the course; or
    • have not completed the course for any reason,

    you are required to notify SFO in writing immediately and repay the loan in one lump sum or by equal instalments, and if by instalments over a revised Repayment Period, and also interest to accrue on the loan. The length of the loan Repayment Period, its commencement date, and repayment arrangements shall be decided by SFO.
  • Non-registration with “MyGovHK” and “SFO E-link - My Bills” service and/or non-receipt of demand note for repayment do not exempt a loan recipient from the obligation to repay the instalment due on or before the due date. If repayment of any instalment is not made after the instalment becomes due, you will be required to repay with the Government the amount of the overdue instalment together with a surcharge at the rate of 5%.
  • To request for early lump sum / partial repayment of the loan, … Read More
  • To request for restructuring repayment period (within the period of 15 years) of the grant / loan, you may send in your request for restructuring repayment period in writing by post, fax or e-mail. Please refer to “Restructuring Repayment Period of Grant / Loan under Financial Assistance Scheme for Post-secondary Students (FASP)” (SFO 281E) for terms and conditions for requesting restructuring repayment period of grant / loan borrowed under the FASP.
  • All applications for early lump sum / partial repayment or restructuring repayment period must be submitted in writing. No verbal request would be entertained.
  • In case of any breach of any of the terms and conditions of the loan or late repayment of any instalment due, the SFO has the power to demand you and / or your indemnifier(s) repay all outstanding balance of the loan, interest, overdue surcharge (if any), and any recovery costs (including legal costs and related expenses in the course of legal recovery actions). The SFO also has the power to withhold the consideration and processing of your other financial assistance applications and / or various applications relating to loan repayment under different financial assistance schemes administered by the SFO.

  • Any overpayment of financial assistance (including grant and/or loan and/or subsidy administered and disbursed by SFO) made to you shall be refunded immediately upon demand.
STEP 4 Result

Review Mechanism

STEP 5 Loan Repayment

Financial Calculator