The Hong Kong government has set up a HK$350 million (US$45.13 million) scholarship program to subsidize the education of local youth who gain admission to top-notch foreign universities.
The scheme, which has Victor Fung Kwok-king as head of a steering committee, will assist 100 students per year and covers both undergraduate and postgraduate studies, the Hong Kong Economic Journal reported.
As part of efforts to help talented youngsters and advance their social mobility, Chief Executive Leung Chun-ying had in his annual policy address earlier this year proposed to establish the “Hong Kong Scholarship for Excellence Scheme”.
Candidates will be selected on the basis of their leadership skills, academic results and other potential, regardless of the background of their families or political stance.
Successful applicants must pledge to return to the city to contribute their part to the society for at least two years upon graduation.
They will be entitled to a maximum grant of HK$250,000 per head, while an additional HK$200,000 subsidy could be offered for those from less privileged families.
Anyone who drops out in the middle of their programs or chooses not to return to Hong Kong afterwards will have to repay the government in proportion to the amount that they have received.
Priority will be given to those who pursue courses in fields such as veterinary science, forestry, ocean science, and emerging market studies that will benefit the city’s economy in the long run, according to the steering committee.
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