The NLS is operated on a full-cost-recovery basis. Interest is charged at the government's no-gain-no-loss rate which is set at 2% below the average best lending rate of the note-issuing banks, plus a risk-adjusted factor (currently set at 1.5%) which seeks to cover the government's risk in disbursing unsecured loans once the loan is drawn down and throughout the repayment period until the NLS loan is fully repaid. The interest rate will be reviewed and adjusted on a regular basis. An administrative fee, to cover the full costs of processing and administering the NLS loans, is chargeable for each application and annually thereafter until the NLS loan is fully repaid. The administrative fee is subject to review annually and is not refundable.

Students with financial needs are encouraged to apply for the NLS. For full-time tertiary students who are covered under the TSFS, the application period is normally late April/early May for continuing students, and early September for new students. For eligible students who are not covered under the TSFS, the application deadline is either 4 weeks after the payment due date of the first loan installment of the programme/course, or 31 December of that year, whichever is the later.

Please visit the homepage of the Student Financial Assistance Agency for:

• Details of the NLS for full-time tertiary students who are covered under the TSFS: http://www.sfaa.gov.hk/eng/schemes/nls.htm (with NLS Quarterly Repayment Calculator)
• Details of the NLS for eligible students who are not covered under the TSFS: http://www.sfaa.gov.hk/eng/schemes/nlss.htm (with NLS Quarterly Repayment Calculator)
• Current NLS Interest Rate: http://www.sfaa.gov.hk/eng/whats/index.htm

Enquiries: