Tips on Continuing Education Fund course selection
by Angie Choi
In the last installment on the Continuing Education Fund, Angie Choi writes about grants and interest-free loans offered by government and private institutions and gives tips on how to choose a CEF course. $10,000 subsidy is not much. Use it wisely to make the best of it for your self-enhancement.
Choose short-term courses
Dr. Anthony C W Tam, Director of the Hong Kong Polytechnic
University, School of Professional Education and Executive
Development (SPEED) says, "The CEF aims at enhancing
the competitiveness of non-degree employees. Although there
are a few degree courses in the approved course list, these
courses usually cost more than $10,000. The subsidy would
not be much help then. Applicants may choose some short-term
practical certificate or diploma courses, so that they do
not have to incur too high a tuition fee."
Make best use of resources
Professor Y H Lui, Director of the Open University of Hong
Kong Li Ka Shing Institute of Professional and Continuing
Education (LiPACE), suggests: "The ceiling of the CEF
subsidy is 80 per cent of the course fee or a maximum sum
of $10,000. Therefore, a $12,500 course would help you capture
the full amount of the $10,000 maximum subsidy, which is 80
per cent of the tuition fee. This way you can make full use
of the government subsidy."
Consider personal interests
Mr. Tam Shu Wing, Director of Lingnan Institute of Further
Education, says: "Applicants should take into account
their personal interests, career development and academic
background when deciding on which courses to take. Those with
only a secondary school qualification should take a certificate
or diploma course before going on to higher studies."
Don't rush
Professor Y H Lui advises applicants not to be in a rush
when choosing a course. He reminds us that new courses will
continually be added to the EMB list of approved courses.
Applicants may wait until more courses come out, compare the
characteristics and fees of various courses before making
a decision.
"Most of the courses have quarterly intakes. If you miss
this season's course, just wait till the next season. Don't
rush," Professor E C M Young, Director of HKU SPACE,
adds.
Ask yourself
Concluding the academics' suggestions, applicants should ask
themselves the following questions to see if they are well
prepared for their study plans:
1 Can your interest and ability drive you through the whole
course?
2 Does the class time conflict with your working hours?
3 Does the course lead to higher-level studies?
4 Can you travel conveniently between your work location and
the location of your classes?
5 Does the course you take meet the needs of your long-term
career development?
Grants and loans for continuing education
Workplace English Training Fund
A funding scheme under the Workplace English Campaign for
non-civil-service employees provides reimbursement of up to
50 per cent of course and examination fees of English training
courses, or a maximum lump sum of $4,500. Reimbursement will
be made upon graduation and passing of a recognized English
language test. Web site: www.english.gov.hk
SME Training Fund
This fund aims at enhancing SMEs' strength and competitiveness
by promoting business-related training for SME employers and
employees. Eligible enterprises may apply for funding under
the two categories of "Employers' Training" and
"Employees' Training" and receive a maximum cumulative
amount of $5,000 for employers' and $10,000 for employees'
training respectively. Web site: www.smefund.tid.gov.hk
Skill Upgrade Scheme
This is a scheme launched in 2001 to provide skill-upgrade
training in various industries for base-level employees with
secondary school education or below. The government subsidizes
70 per cent of the course fee, while the remaining 30 per
cent have to be shouldered by the employer or employee. Applicants
earning a monthly income of below $6,330 or those covered
by the Comprehensive Social Security Assistance can apply
for a full reimbursement of course fees. Web site: www.info.gov.hk/emb
Non-means Tested Loan Scheme
This is a loan scheme administered by the Student Financial
Assistance Agency. Students enrolled in any course offered
by the continuing education schools of the eight universities
or any statutory bodies may apply for the loan. Applicants
may repay the loan in 40 installments in 10 years after graduation
or after fulfilling the required credits. The maximum amount
of loan is the full tuition fee, and the interest rate for
the loan in 2002-2003 is 4.625 per cent. Application should
be made before the commencement of the course, and the application
form should reach the school administration before the deadline
set by the individual institutions. Website: www.gov.hk/sfaa
Interest-free bank loan schemes
The Wing Hang Bank started providing OUHK credit card holders
with a 10-month interest-free loan scheme in 2001 for students
engaged in continuing education. However, if students fail
to make payments by the monthly due dates, the bank will start
charging interest. Similarly, the Bank of East Asia also provides
a 10-month interest-free loan for HKU SPACE Credit Card holders.
Inquiries should be directed to the relevant institutions.
Taken from Career Times 2002/08/02
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