November 25, 2009

• <這些 “大學生” 是讀什么的?>

  I have quoted this from 陳坤耀  for many times :

  副學士的確有如全民鍊鋼, 是教育界的八萬五

  full entry here

  Most of so-called 大學生 in HK are really shit, without a minimal sense of responsibility.

  Here comes a piece of strong evidence :

  “截至今年3月31日， 貸款計劃的總累積虧損達2.55億元， 主要來自擴展的免入息審查貸款計劃。擴展的免入息審查貸款計劃的拖欠還款比率為17 .2%，審計署建議學生資助辦事處監督應考慮採用不同的風險調整系數利率，以處理不同貸款計劃的不同信貸風險程度”

  So the delinquency rate is 17.2% (as a share of total number of loans; NOT in value terms). It means one out of every 6 borrowers under the scheme is late in repaying loans.

  Note that these borrowings are non-collaterized (no collateral; unlike residential mortgage which you have the flat as collateral. Look at page 40 of the full report :

  — “2.5% 的利率遠較市場上無抵押貸款的利率為低，而且利息只佔個別學生整體還款額的一小部分” (standard interest rate for mean-test loan)

  — “免家庭入息及資產審查貸款的利息是按政府的「無所損益」利率計算，另加1.5% 的風險調整系數” (premium for non-mean loan)

  The interest rate charged is really lenient, but somehow university graduates, with emphasis that they are already graduates, refused to pay back what they should. US delinquency rate, also expressed in terms of total number of loans, was only 9.4% in Q3/09 (already a record-high). Indeed, the financial crisis is really nothing compared with our university loans

  

  What a shame.

  I thought the rate is boosted by the financial crisis in 2008 (fresh graduates are unemployed etc.), But it turns out that most cases (over 50%) are delinquent for more than 2 years. So you cannot blame anything else but yourselves

  

  Full report here; Extract here

  • 11:10 am
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