Non-means-tested Loan Scheme for Full-time Tertiary Students (NLSFT)
Non-means-tested Loan Scheme for Full-time Tertiary Students (NLSFT)

Deferment of Repayment

  • 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. Please click here to learn more.
  • If you have difficulties in repaying the NLSFT loan(s) due to further full-time study, financial hardship or serious illness, you may apply for deferment of loan repayment. For deferment of loan repayment on the grounds of financial hardship or serious illness, in case you have not opted for the standard repayment period of 15 years, the repayment period of your loan will initially be extended to 15 years for calculation when your application is being processed. The SFO will consider each application on its own merits.
  • Application for deferment of loan repayment should be submitted in writing, together with the necessary documentary proof, to the SFO before the due date(s) of the instalment(s) under application.
  • For application by fax or by email, the date of receipt of the fax or email will be considered to be the date of application. For application by post, the postmark date on the envelope will be regarded as the date of application. Relevant application forms are available at the SFO. You may also download the application form concerned from SFO’s website.
  • Application for deferment of loan repayment is only applicable to the total amount due for repayment, which may comprise administrative fee(s), if any, interest(s) and outstanding principal(s). Application for deferment of only a part of the repayment amount will not be acceded to.
  • Interest will accrue over the deferment period. The deferred loan may be repaid on a revised schedule with fewer numbers of instalments and at a larger amount or on any other terms as decided by the SFO. Interest accrued during the deferment period will be capitalised and form part of the outstanding principal for calculation of the amount to be repaid in the remaining instalments. In addition, for deferment of more than 12 calendar months, the interest accrued during the deferment period will be capitalised once every 12 calendar months. Loan recipients who have been granted approval for deferment of the NLSFT loan repayment are still required to pay the administrative fee during the period of deferment. The administrative fee accrued during the period of deferment will be demanded for repayment in the first demand note after resumption of loan repayment.
  • To alleviate the financial burden of loan borrowers with proven repayment difficulties, loan borrowers whose application for deferment has been approved may be eligible for interest-free deferment and extension of the entire loan repayment period, subject to a maximum of two years (i.e. the entire repayment period will be up to 17 years).
  • If loan borrowers have benefited from the one-off relief measure on deferment of loan repayment introduced in August 2009 and exhausted the two-year interest-free extended repayment period, their loan account will not be eligible under this arrangement. If a loan borrower has more than one loan account, the eligibility for this arrangement will be considered on individual loan account basis.
STEP 5 Loan Repayment

Repayment Methods

STEP 5 Loan Repayment

Difficulties in Loan Repayment & Default - Consequences of Default