Debentures, Nomination Rights & Capital Levies at HK Schools, Explained

When applying to international and some private schools, beyond tuition you'll keep hearing "debenture", "individual nomination right" and "capital levy". They're different things — get them straight to cost out the real total.

Three charges, three purposes

• Capital levy: a non-refundable facilities fee, usually charged annually, with no admissions priority.
• Individual nomination right / debenture: a larger lump sum that confers admissions or interview priority; at some schools it is refundable when the child leaves, and exempts the holder from the annual levy.
• Both are a school's "Other Charges" and require EDB approval.

The ESF as an example

• Individual Nomination Rights: HK$500,000 (HK$400,000 for Discovery College / Renaissance College), giving admissions priority; stated to be non-refundable, non-transferable and not offset against tuition. A deposit (around HK$50,000) is paid on application, refundable only if the child is not offered a place at interview.
• Capital Levy: a separate facilities fee, non-refundable and conferring no priority; the amount tapers year by year (about HK$38,000 in Year 1, down to about HK$3,800 by Year 13).

At other schools (e.g. Harrow), debentures are often refundable when the child leaves and exempt the holder from the annual levy — terms vary by school.

Costing it out

The total cost of an international school isn't just tuition — include:

1. Annual tuition (usually the biggest item).
2. Capital levy (often annual, non-refundable).
3. Debenture / nomination right (if you choose to buy one — factor in refund terms).
4. Application fees, school bus, activities and other extras.

For fee levels, see School fees compared; for the application process, see Applying to international schools.

Good to know

Every school's charge names, amounts and refund terms differ, and they require EDB approval. Before applying, always get the latest written fee schedule from the school and check carefully which charges are refundable and which are not.