A number of Hong Kong students have been forced to cut short their studies overseas because their parents can no longer afford tuition fees, student help group Hok Yau Club claimed yesterday.The group said since the start of the financial crisis, a number of parents have called its hotline to say how bad they feel at having to disappoint their offspring, club director Lik Ho-cheung said.
About 10 percent of the 300 calls in the first three months of this year involved the financial crisis.
Around 5 percent of total callers said they would recall their children.
"In general, middle-class families can afford to send their children to study overseas. But because of the uncertainty brought about by the financial crisis, or due to losses in investments, parents were left with few options," Lik said.
"The early return of students from overseas will increase competition in the job market. In addition, some are also likely to compete with local students for places in tertiary institutions."
Around 30 percent of the 1,456 Hong Kong Certificate of Education Examination candidates polled since February and earlier this month have decided to change their study or career plans, according to the Hong Kong Federation of Youth Groups.
Approximately 23 percent preferred subsidized to self- financed courses and 21 percent said they would continue studying instead of seeking jobs.
Around one in every 15 students would abandon plans to study overseas if it was not possible to find schools that charged less than current rates.
Just under half, 44 percent, said the approaching HKCEE had put them under intense pressure.
Federation supervisor Hsu Siu-man said many youngsters are now examining their parents' financial status before deciding on whether to work or continue studying.
She called on candidates to overcome negative emotions and for parents to communicate more with their children.
Lik said students should be willing to accept various job opportunities including short-term internships.
The government should also increase subsidies for corporations willing to employ associate degree graduates.
Jason Poon Chi-shing , who is working in the financial sector, said he has lost HK$300,000 he had in an education investment fund and is now looking for an overseas university which charges less than those in Britain.
The federation said it received 1,191 assistance calls in the first three months of this year compared with 1,318 last year.
