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 TSFS 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
  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.
• The 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. 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
  All loans need to be repaid upon your graduation or when the course has officially ended. For example, a student loan borrower enrolls in a four-year study programme and takes up full TSFS loan of $53,070 (i.e. maximum loan for 2020/21 application) at each year of study, his / her total loan principal amount will be $212,280 upon commencement of repayment. Assuming the interest rate remains at 1% per annum, if the student loan borrower opts to repay the loan in 15 years by 180 monthly instalments, his / her monthly instalment amount will be around $1,271 (except the last instalment). For a better estimation on the repayment amount, you are welcome to try out the financial calculator.
• 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.
• There will be surcharge for late repayment involved. Please refer to Interest and Surcharge for Late Repayment.
• Non-registration with “MyGovHK” and “SFO E-link – My Bills” service / Non-receipt of demand notes for repayment does not exempt a loan recipient from the obligation to repay the instalment due on or before the due date; if the repayment is not made on or before the date the instalment becomes due, you will be required to repay with the Government the overdue amount together with a surcharge at the rate of 5%.
• To request for early lump sum / partial repayment of loan borrowed under the TSFS, you may either come in-person or appoint your representative with your signed authorization letter to the SFO during office hours; or send in your early lump sum / partial repayment request in writing, by post, fax, e-mail or “SFO E-link”. Please refer to “Early Partial / Lump Sum Repayment of Loan Under Tertiary Students Finance Scheme – Publicly-funded Programmes (TSFS) (SFO 185)” for terms and conditions for requesting early lump sum / partial repayment of loan borrowed under the TSFS. All applications for early lump sum / partial repayment must be made in-person or submitted in written form. No verbal request would be entertained. Read More
  Monday to Friday 8:45a.m. - 1:00p.m. & 2:00p.m. - 5:45p.m.
• To request for restructuring repayment period (within the period of 15 years) of loan borrowed under the TSFS, you may either come in-person or appoint your representative with your signed authorization letter to the SFO during office hours; or send in your request for restructuring repayment period in writing, by post, fax or e-mail. Please refer to “Restructuring Repayment Period of Loan under Tertiary Student Finance Scheme – Publicly-funded Programmes (TSFS)” (SFO 278_E) for terms and conditions for requesting restructuring repayment period of loan borrowed under the TSFS. Read More
  Monday to Friday 8:45a.m. - 1:00p.m. & 2:00p.m. - 5:45p.m.
• All applications for restructuring repayment period must be made in-person or submitted in written form. No verbal request would be entertained.
• 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.
• Default in loan repayment may give cause for legal proceedings against you / your indemnifier(s) by the Government for the recovery of the outstanding loan(s) and interest plus surcharge and any recovery costs incurred by the Government.
• 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) immediate repayment of all outstanding balance of the loan, interest, 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 / loan applications and / or various applications relating to loan repayment under different financial assistance / loan schemes administered by the SFO; and to demand you and / or your indemnifier(s) immediate repayment of all outstanding balance of loan(s), interest (if any), overdue interest (if any) / surcharge (if any), administrative fee (if any) and any recovery expenses in relation to other course(s) taken by you notwithstanding that they have not become due under the terms of such loan(s).

Overpayment

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