A charity set up by Hong Kong billionaire Li Ka-shing announced on Sunday that secondary schools in Tuen Mun will be included in its cash giveaway scheme next year, in addition to those in Yuen Long, Tin Shui Wai and Islands District at present.
The Li Ka Shing Foundation said more than 10,000 students in 91 secondary schools will benefit after expansion of the “Decide Well, Spend Wisely” scheme, the Hong Kong Economic Journal reports.
The scheme was launched in 2016 to encourage students who are taking the Diploma of Secondary Education (DSE) examination to focus on their studies as well as make wise choices when it comes to spending money.
Each of the qualified DSE students who register with the foundation can receive a cash gift of HK$5,000 without condition.
More than 5,700 students from 51 schools in Yuen Long, Tin Shui Wai and Islands District participated in this scheme last year.
A total of 4,244 answered a questionnaire from the foundation about how they spent the money.
One in seven said they used the HK$5,000 mainly for expenses related to their studies, including the DSE registration fee, practice materials for the test and attending cram schools, news website hk01.com reported.
Some said they opened a bank account for the first time and put the money in, while others said they used part of the money they received to buy clothes for their siblings or make donations to charities.
The principal of Ju Ching Chu Secondary School (Tuen Mun) was quoted by Apple Daily as saying the money enabled some of its students from grassroots families to take a trip to Hong Kong Island, where they have never been before.
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