Cost of Living and Finance

Cost of Study

Tuition Fees & Scholarships

Banking

Cost of Study

What Is the Estimated Cost of Study in Hong Kong for a Year?

Rough estimate of the yearly cost (2 semesters) of studying at CityU (2020-21)
Expenses On Campus Accommodation1 Off-campus Accommodation
Tuition fee2
HKD$140,000
Living costs (meals, transport, laundry, and education expenses for books, stationery, etc.)3 HKD$36,000 HKD$36,000
Accommodation HKD$15,4004 HKD$45,000-55,0005
Total cost per academic year
(2 semesters)
HKD$191,400 (~US$24,575) HKD$221,000-231,000 (US$28,300-29,600)
  1. Priority will be given to non-local students during the first two years of study
  2. Tuition fee for 2020-21. For the latest information, please refer to https://www.cityu.edu.hk/fo/htm/Degree_Fees.htm
  3. Actual costs will vary depending on lifestyle choices. Students may also need to budget for overseas exchanges, summer study tours and emergency medical expenses, etc.
  4. Residence fee for a double room at the Student Residence on campus. All fees are subject to annual review. Room rates will vary depends on room types, please refer to http://www.cityu.edu.hk/sro/htm/e_apply1_nl.htm for details
  5. Estimated costs for private renting. Students may refer to https://www.cityu.edu.hk/sro/oca/ for some off-campus accommodation options

How Much Money Should I Bring to Hong Kong?

  • There are no immediate or large payments due on arrival, so an amount of around HK$10,000 in cash to support general living expenses for the first two months should suffice. It is unnecessary to carry a large amount of cash with you when you travel to Hong Kong.

How Much Do Things Cost in Hong Kong?

  • Food: The cost of food depends on where you eat. On average, a meal at student canteens costs between HK$20 and HK$50, but you can save money by cooking at home. With careful budgeting, students can spend as little as HK$1,500 a month on food.
  • Internet: Cable internet is around HK$200 a month.
  • Utility: Utility costs in Hong Kong usually include electricity, water, gas and/or management fees. Heaters are not common in Hong Kong as the temperature in winter normally ranges from 10 to 20 degree Celsius.
  • For more related statistics, please visit StudyHK.

Tuition Fees & Scholarships

How Much Is the Tuition Fee?

  • The tuition fee for non-local students is HK$140,000 (US$18,000) for the 2020-21 academic year. The tuition fee may increase if there are changes to the tuition fee set by the Hong Kong SAR Government.

How and When to Settle My Tuition and Other Related Fees?

  • Payment notice: Students will receive an all-in-one payment notice, covering tuition fees, Student Residence charges, insurance premiums, and the payment due date. They can also check their account summary on AIMS.
  • Payment methods: View a list of accepted payment methods for international payments.
  • Late payment: Students may have their student enrolment status suspended by the University if they do not pay the fees and charges in full by the payment due date. A late payment charge may also be imposed on the outstanding balance.

How and When Will I Receive My Entrance Scholarship?

  • Instalments: If you are awarded an entrance scholarship, the grant will be allocated to you in two instalments for every eligible year. The scholarship will be deposited into your student account before the payment due dates for university fees and charges to offset outstanding fee amounts.
  • Balance: The remaining balance of the scholarship grant, if available, will be transferred to your bank account or by cash cheque (on request).
  • Other scholarships: CityU has offered a number of merit-based scholarships to non-local students. You may check with Student Development Services and/or your host College and School for further information.

Banking

What Documents Are Required to Open a Bank Account in Hong Kong?

The common documents needed are the identity documents and proof of address listed below. Extra documents may be required depending on your country of residence. Please check with your preferred bank for details.

  • Identity documents (Both the original and a photocopy):
    1. Travel document with student visa label
      (e.g. passport / Exit-entry Permit for Travelling to and from Hong Kong and Macao (往來港澳通行證))
    2. CityU Student ID Card
      (you will get the student ID card after you have completed the new student enrolment process)
  • Proof of address (The original copy in English or Chinese):
    1. Permanent address in home country
      (e.g. Driver's license with address, household registration (戶籍謄本), utility bills or bank statements issued in the past 3 months)
    2. Hong Kong residential address
      (which can be obtained from the Student Residence Office after arrival if you are living on campus)
  • Time needed: a savings account can be ready within 1-2 weeks in general

Can Students Under 18 Open a Bank Account?

  • It depends: If you are a minor under the age of 18 (at the time when you apply for the bank account), please note that some banks may accept your application for opening a savings account while others do not provide banking services to persons under 18.
  • Special requirements: For those banks which allow minors to open a bank account, they normally require the presence of a parent. Such requirements vary from one bank to another. Please check with the bank you intend to patronise for details.

What Are the Banks near Campus?

  • On-campus: Hang Seng Bank
    Many students chose to open a bank account at this campus bank because of its convenient location (3/F, Yeung Kin Man Academic Building)
  • At Festival Walk: HSBC, Bank of China (Hong Kong), Bank of East Asia, Citibank, DBS

Where Could I Withdraw Cash?

  • ATMs: Automated teller machines (ATMs) can be found almost everywhere in Hong Kong, providing 24-hour cash withdrawal (HK$) for Visa and MasterCard holders. Some ATMs also provide cash in Renminbi, but few support withdrawals of other currencies.
  • Bank branches: Most banks in Hong Kong are open from 9:00 am to 4:30 pm Monday to Friday, and from 9:00 am to 12:30 pm on Saturdays, except for public holidays. Some banks and branches have slightly longer hours and some banking services are not available an hour before closing.

What Are the Common Payment Methods Accepted in Hong Kong?

  • Credit cards: Visa, MasterCard, American Express and most other international credit cards can be used for cash withdrawal and other financial transactions at ATMs in Hong Kong. However, please note that some local shops do not accept credit cards.
  • Electronic payments: Apple Pay, Google Pay, WeChat Pay and Alipay, etc. are widely accepted in shops and restaurants.

What Is the Official Currency in Hong Kong?

  • The legal tender in Hong Kong is the Hong Kong dollar (HK$), which is linked to the US dollar at a rate of about HK$7.8 to US$1, although sometimes the exchange rate may fluctuate slightly.