Plan For HK$1.4bn School Loan Now Gets A Thumbs Up

A government proposal to provide HK$1.4 billion in interest-free loans to four international schools will now proceed to Legco's Finance Committee after lawmakers, including those from the opposition, backed the plan.

Last month opposition lawmakers on the education panel had voted against the proposal.

But they joined their rivals on Friday in sending it to the Finance Committee after the government said it is looking at how to monitor the fees these schools charge and the debentures they sell.

The government says the interest free loans to the schools – Christian Alliance International, Shrewsbury International, French International school and Malvern College – is to "ease their cash flow" amid the coronavirus pandemic.

The money is earmarked for the construction of new buildings.

When the proposal came to the education panel last month, seven lawmakers voted against it and only five supported it. The opposition legislators had also raised concerns that the government was favouring only schools for the rich and ignoring public schools. 

The pan-democratic lawmakers had also questioned whether it was necessary to use public money to help international schools which charge high fees and sell debentures.

On Friday, Education Secretary Kevin Yeung assured them that the Education Bureau will consider their suggestions such as monitoring fees and debenture sales.

The opposition then passed two non-binding motions, asking the government to add in conditions like putting a cap on the amount that schools can charge parents.

They also urged the bureau to review the development of international schools to prevent them from being “aristocratic” and push them to provide places for students with special educational needs.

Civic Party lawmaker Jeremy Tam said using public money to help these schools wouldn't be fair if these issues aren't tackled, and the schools remain too pricey for regular families.