WFSFAA reminds student loan repayers to resume loan repayments from April 2025

The following is issued on behalf of the Working Family and Student Financial Assistance Agency:
 
     The Working Family and Student Financial Assistance Agency (WFSFAA) today (December 23) reminded student loan repayers that the five-year interest-free deferral of loan repayments will end on March 31, 2025, and interest accrual will resume from April 1. The first repayment due date falls on May 1 (for repayment by monthly instalments) or July 1, 2025 (for repayment by quarterly instalments). 
 
     The Student Finance Office (SFO) of the WFSFAA will issue notifications for resumption of loan repayments and the repayment schedules to student loan repayers in January 2025, followed by demand notes in mid-April and early June 2025 to repayers who repay by monthly and quarterly instalments respectively. Charging of the annual administrative fee will also resume for all loan repayment accounts under non-means-tested loan schemes. For details about the resumption of student loan repayments, please visit the WFSFAA website (www.wfsfaa.gov.hk/resumption_e.htm).
 
     For the convenience of repayers, the SFO provides a variety of electronic repayment methods, including the Payment by Phone Service or Faster Payment System accessible from the "SFO E-link – My Bills" online platform, autopay service and internet banking payment services.
 
     A spokesman for the WFSFAA reminded student loan repayers that interest expenses can be reduced if they apply for early lump sum or partial repayment in respect of any individual or all loan account(s). Such applications can be submitted via the "SFO E-link" online platform (www.wfsfaa.gov.hk/lspartial_e.htm).