Student agency estimate
THE Student Financial Assistance Agency is expected to spend 20 per cent more in the coming fiscal year.
An increase of 20 per cent, or $83.3 million, is earmarked to provide grants and fees assistance to students from kindergartens to universities.
The total expenditure targeted is $484.5 million.
A total of $188.1 million is allocated as grants for tertiary students who study in Hongkong or Britain.
This represents an increase of $53 million or 39.5 per cent over the revised 92-93 estimate, mainly because of an increase in the size of grants and the number of successful applications.
The amount allocated for kindergarten fee assistance also recorded a sharp increase of 38 per cent, when the 93-94 estimate is $54.4 million, compared with the 92-93 revised estimate of $40.6 million.
This is mainly due to the implementation of the recommendation in the Education Commission Report No 5.
Meanwhile, the Student Financial Assistance Agency will also have its establishment expanded.
Provision of $23.3 million for staff salaries represents an increase of $2.8 million or 13.5 per cent over this year's revised estimate.