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 your NLSPS loan upon (a) graduation or when the course has officially ended; or (b) lapse of 6 years from the first disbursement of the NLSPS loan, whichever is the earliest, until it is repaid in full.
The repayment of the NLSPS loan 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 six 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 NLSPS 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 NLSPS loans by monthly instalments. The NLSPS 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 1.27% per annum and subject to adjustment) will be charged once the loan is drawn down until the NLSPS loan is fully repaid. For example, a student loan borrower enrolls in a 2-year study programme and takes up a NLSPS loan of $55,000 at each year of study, his / her total loan amount will be $110,000 upon commencement of repayment and the interests accrued will be around $2,096*. If the student loan borrower opts to repay the loan in 15 years, his / her monthly instalment amount will be around $683*.
*The calculation of the amounts is worked out on the assumption that the interest rate will remain at 1.27% per annum during the study period and throughout the repayment period.
If you:
1. cease to be a registered full-time student of a recognised course; or
2. withdraw or are suspended from or cease or defer your studies in a recognised course; or
3. transfer from the institution at which you have borrowed the NLSPS loans to another institution; or
4. have not completed the course for any reason,
you are required to notify the SFO in writing immediately and repay the NLSPS 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 NLSPS interest rate per annum. The length of the Repayment Period, its commencement date, and any repayment arrangements shall be decided by the SFO.
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 the demand notes and / or notifications seven days before each due date, you should contact the SFO immediately.
If you wish to make early lump sum / partial repayment of the NLSPS loan or restructure the repayment period within such 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 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 duly, you will be required to repay with the Government the overdue amount together with overdue interest.

Overpayment

Any overpayment of the NLSPS loan made to you shall be refunded immediately upon demand.

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