FS chats with students online

February 07, 2012

Financial Secretary John Tsang today participated in an online dialogue session with young people to discuss how his 2012-13 Budget will help them.
 
In the online chat, organised by the Federation of Youth Groups, Mr Tsang said he proposed numerous education and employment measures in his recent budget speech.
 
Student loan borrowers who complete their studies this year will be given an option to start repayments one year after completing their studies, easing their financial burden and giving them more time to find a job, which he said could become harder due to the global economy.
 
He discussed the three-year pilot microfinance scheme which will offer a maximum loan tentatively capped at $100 million. Mr Tsang said the scheme will help people wanting to start their own businesses or take self-enhancement training.
 
Recurrent education expenditure will reach almost $60 billion in 2012-13, up 7%, he said, adding total education expenditure will exceed $79 billion.
 
The proposed injection of $2 billion into the Government Scholarship Fund and Self-financing Post-secondary Education Fund will establish more scholarships or award schemes for outstanding students. About 10,000 students will benefit each year.
 
Mr Tsang said the budget was well thought-out and he is confident the comprehensive measures will win community support.