In order to optimise the organizational structure, better manage and effectively utilise resources, according to Administrative Regulation No. 17/2022 "Education Fund", the Student Welfare Fund, Education Development Fund and Higher Education Fund will be merged into Education Fund on 1st June, 2022. The Education and Youth Development Bureau is now actively following up on the preparatory work for the merger of the three funds mentioned above to ensure a smooth transitioning of the administration, finance and various funding work of the three funds to the Education Fund.
Various funding schemes originally provided by the Student Welfare Fund, the Education Development Fund and the Higher Education Fund in the academic year 2021/2022 will be transitioned to the Education Fund and continue to be implemented. Previous funding applications submitted to the three funds and approved funding applications are still valid, and will continue to be handled by the Education Fund.
In addition, after the establishment of the Education Fund, beneficiaries of the Tertiary Education Grants Scheme can still continue to make repayments to the original bank account of the Student Welfare Fund at Banco Nacional Ultramarino (BNU) (account 1016451116) or at Bank of China (account 00180101207868453). From 1st June, 2022, the account name will be changed to "Education Fund".
The Education Fund is a public legal person that operates at the Education and Youth Development Bureau, has administrative and financial autonomy and owns its own property. The purpose of this fund is to cooperate with the education system and education development policy of the SAR government, and within its available budget amount, to provide subsidies and rewards for various projects and activities that help ensure and improve the quality of education, students' comprehensive ability and competitiveness, as well as to provide grants and benefits to students.