Financial Assistance Scheme
The Financial Assistance Scheme for Post-secondary Students (FASP) is a means-tested financial assistance scheme administered by the HKSAR Government Student Financial Assistance Agency (SFAA). Full-time students aged 30 or below pursuing a Higher Diploma are eligible to apply for assistance under the Scheme. The maximum level of financial assistance is capped at the annual tuition fee payable for the accredited programme subject to a ceiling of HK$ 65,740*. It also provides means-tested loan to cover the living expenses. The maximum level is capped at HK$ 39,650*. For enquiries, please contact CUSCS at Tel: 2209-0290 or contact SFAA at Tel: 2152-9000.
* The maximum level of financial assistance is subject to the above ceilings in 2012-13. The amount of assistance is subject to SFAA's final decision.
Non-means Tested Loan Scheme
The HKSAR Government Student Financial Assistance Agency (SFAA) has extended its Non-means-tested Loan Scheme to students pursuing local award-bearing programmes at the post-secondary level and above offered by the UGC-funded institutions' schools of professional and continuing education. For details of the Scheme and updated course list, please visit the website of the Student Financial Assistance Agency at www.sfaa. gov.hk or contact SFAA at Tel: 2150-6222.
Tax Deduction for Expenses of Self-Education
Students pursuing a course at CUSCS to gain or maintain qualifications for use in either the current or a planned employment are eligible to apply for the tax deduction in respect of the course fee. Students should keep official receipt issued by CUSCS and place the application with Inland Revenue Department via annual tax return. The upper limit for amount deduction is HK$ 80,000* for the year of assessment 2013/14 and after.
For more information, please visit website of IRD at www.ird.gov.hk or contact IRD 24-hour Hotline at 187-8088.
* Legislative amendments are required for implementing the proposed measures.