An education at HKUST means so much more than attending lectures, completing assignments and passing examinations. It is also about realizing one's potential and becoming an informed and responsible global citizen of tomorrow. It is the University's objective to make a real difference to students' lives, to assist them in achieving these goals.
We provide opportunities for students to learn about themselves, further their interests, and fulfill their dreams and aspirations. These opportunities include participating in international competitions in academic fields or sports, overseas internships and international exchange programs and more.
But sometimes, students are hamstrung by lack of financial resources and are unable to take advantage of these exciting programs. The Alumni Endowment Fund will be used for various scholarships, awards and grants to help eligible students join such programs.
The HKUST President and the Vice-Presidents will make decisions annually on the usage of the AEF according to the strategic needs of the University. All supporters of the Alumni Endowment Fund will be informed of the details of the projects that benefit.
Donations from the community are usually non-regular and sometimes just a one-off. This type of donation is usually designated for a capital, such as a new building or laboratory or for a specific project. Although donations from individual alumnus may be small compared with those from tycoons, collectively they can make a big difference. The creation of the Alumni Endowment Fund ensures that the synergy created by many small donations can be used to provide a sustainable income for priority projects at HKUST.
All universities in Hong Kong charge less than the full cost of running the institutions. Tuition fees can only cover a very small fraction of the cost of educating a student. HKUST cannot reach the pinnacle of its ambitions simply by relying on grants and subsidies from the government. To become not just very good but great, we need funding sources that will give us the flexibility to support initiatives of the highest priority.
Yes! If each alumnus donates $50 a month, with 40,000 alumni that makes a total of $24 million per annum. Every dollar contributed to the Alumni Endowment Fund matters - and every little helps. Your gift reflects your trust in HKUST. Your donation will make a huge cumulative and long-term difference to what we wish to achieve at HKUST.
The principal of an endowment fund is maintained in perpetuity and only the income from investment of the principal is expended.
Institutions such as Harvard and MIT have sizable endowment funds that were started many years ago. It is a proven method of raising money for educational institutions. Our fund may be small in its initial stage, but it will grow gradually as the alumni population grows. In 10 years or 20 years from now, it will become an impactful resource providing support to the University and our students.
The finance committee of the HKUST Council, the supreme governing body of HKUST, will oversee the investment activities of the AEF.
HKUST President and the Vice-Presidents will make decisions on the usage of the Fund according to the strategic needs of the University. For example, the income will be spent on students with financial difficulties for participating initiatives such as exchange-out programs, international competitions and more.