Applications for the new Scholarship for Excellence Scheme are open now until January 31, the Education Bureau has announced.
The scheme was proposed in this year's Policy Address to support outstanding local students in pursuing studies in world renowned universities outside Hong Kong.
With a funding commitment of nearly $350 million, the scheme will benefit three cohorts of students, with initially up to 100 students per cohort, starting from the 2015/16 academic year.
All scheme awardees will receive a non-means-tested scholarship to cover their tuition fees, subject to a ceiling of $250,000 per student per year, whichever is lower.
While there is no limitation on the disciplines of study, priority will be given to programmes that are conducive to building up Hong Kong's long-term competitiveness, in particular those not available in Hong Kong.
Awardees would be required to complete the programme and agree to return to Hong Kong after graduation to work for at least two years.
Applicants must have the right of abode or to land, or have entered Hong Kong on One-way Permits and lived in Hong Kong continuously for three complete years immediately before the start of the academic programme.
Selection will be based on applicants' academic achievements and other personal attributes. A personal statement on how they could contribute to Hong Kong's future development will also be considered.
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