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.
Loan borrower is required to repay the NLSFT loan, which shall normally commence on 1 December of the year of your graduation or when the course has officially ended. The first instalment of loan repayment will normally fall due on 1 January or 1 July (if opted for deferred activation of loan repayment) of the following year of your graduation. Read More
If you have not received the notice of commencement of repayment or demand of repayment within 6 months after your graduation or the course has officially ended, you should notify the SFO in writing immediately.
With a view to facilitating better financial management of loan borrowers, loan borrowers who have obtained NLSFT 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 NLSFT loans by monthly instalments. The NLSFT loan borrowed 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. Read More
Interest (the current interest rate is 1.645% per annum and subject to adjustment) will be charged once the loan is drawn down and throughout the repayment period until the NLSFT loan is fully repaid. For example, a student loan borrower enrolls in a 4-year study programme and takes up a NLSFT loan of $42,100 at each year of study, his / her total loan amount will be $168,400 upon commencement of repayment and the study interest accrued will be around $6926*. If the student loan borrower opts to repay the loan in 15 years, his / her monthly instalment amount will be around $1,095*.

*The calculation of the amounts is worked out on the assumption that the interest rate will remain at 1.645% per annum during the study period and throughout the 15-year repayment period.
If you:
- cease to be a registered full-time student of a recognised course; or
- withdraw or are suspended from or cease or defer your studies in a recognised course; or
- transfer from the institution where you borrowed the NLSFT loans to another; or
- have not completed the course for any reason,
you are required to notify the SFO in writing immediately and repay the NLSFT loan in a lump sum or by equal instalments; and if by instalments over a revised Repayment Period, also the interest accrued at the prevailing NLSFT interest rate per annum. The length of the Repayment Period, its commencement date, and any repayment arrangements shall be decided by the SFO.
The Repayment Period shall commence after the course has officially ended while the interest shall accrue on the loan as soon as the loan has been advanced until it is repaid in full. You may choose to make early repayment of the NLSFT loan(s).
Instalments will normally fall due on 1st of each calendar month for monthly repayment; while on 1 January, 1 April, 1 July and 1 October each year for quarterly repayment. Demand notes and / or notifications will be issued 14 days before each due date as far as practicable. Read More

If you do not receive demand notes and/or notifications seven days before each due date, you should contact the SFO without delay.
If you wish to make early lump sum / partial repayment of the NLSFT loan or restructure repayment period within the repayment period, a request should be put up in writing by post, fax, email or via the “SFO E-link”. Verbal request will not be accepted. (“SFO E-link” is applicable for applying for lump sum / partial repayment only) Read More
Please refer to "Early Partial / Lump Sum Repayment of Loan under Non-means-tested Loan Scheme (NLS)" (SFO 186) and “Restructuring Repayment Period of Loan under Non-means-tested Loan Scheme (NLS)” (SFO 279_E) for relevant terms and conditions.
Non-receipt of repayment demand notes or electronic notifications does not exempt a loan borrower from the obligation to repay the instalment due on or before the due date. If repayment has not been made on or before the date the instalment becomes due, you will be required to repay the Government the overdue amount together with overdue interest.

Overpayment

Any overpayment of financial assistance made to you shall be refunded immediately upon demand.

STEP 4Result & Payment

Payment Arrangement

STEP 5 Loan Repayment

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