HK$1b scholarship fund awaits approval
Will Clem and Mimi Lau
University students could be eligible for annual scholarships of up to HK$80,000 from next year if legislators give the go-ahead to a HK$1 billion endowment fund next month.
Secretary for Education Michael Suen Ming-yeung yesterday gave details of the fund, first announced in the chief executive's policy address.
The fund is expected to earn enough investment income to eventually provide HK$48 million a year for scholarships.
Successful local students will be given scholarships of HK$40,000, while non-local students will be eligible for HK$80,000. Between 150 and 300 scholarships could be awarded annually, depending on the ratio of local and non-local students.
But legislators called for conditions to ensure talented overseas students remained in Hong Kong after graduation. Mr Suen said imposing conditions on overseas students was out of the question, as it would make the scholarships less competitive internationally.