611 elderly Hongkongers default on student loans, owe HK$17,400 each on average

More than 600 defaulters aged 60 and above have failed to repay their student loans under five government financial assistance schemes designed to fund their tertiary and post-secondary studies, with the average amount owed standing at HK$17,400 (US$2,220). In a reply to questions from lawmakers on Wednesday, the Education Bureau said it had recorded 9,838 default cases, involving 8,494 people, under the five schemes as of January 31 this year. The schemes provide financial assistance to those...