Key Features
- Up to 20% of the subsidised tuition fees payable by Singapore student and or up to S$3,600 annual living allowance.
- Interest-free during course of study.
- For applications submitted before 1 Apr 2024, interest, if applicable during the course of study, charged at average prime rate of DBS, OCBC, and UOB after graduation.
For applications from 1 Apr 2024 onwards, please click here for details. - Up to 20 years repayment period for interest bearing loan, and up to 5 years for interest free loan with repayment commencing after course completion.
- Minimum monthly repayment of $100.
Eligibility
- Singapore Citizens (SC), Permanent Residents (PR) or international students taking full-time subsidised undergraduate courses, or SCs taking part-time subsidised undergraduate courses in any of the below institutions:
- Nanyang Academy of Fine Arts (Singaporeans & Singapore Permanent Residents only)
- LASALLE College of the Arts (Singaporeans & Singapore Permanent Residents only)
- Nanyang Technological University
- Singapore Institute of Technology
- Singapore University of Social Sciences
- Singapore University of Technology and Design
- Have a gross monthly per capita income of $2,700 or less for SCs and PRs, or $1,200 or less for international students.
- Fulfilling the above criteria, they are eligible for this loan if they have received financing for their tuition fee from at least one or a combination of the following:
- Tuition Fee Loan
- CPF Education Loan
- MENDAKI Tertiary Tuition Fee Subsidy/Loan
- Scholarship/grant
- A fee subsidy/loan from a registered government agency
For the full criteria to apply for Study Loan, please refer to respective institution's website for more details.
Guarantor
- Aged from 21 to 60 years
- Is not an undischarged bankrupt
Student | Guarantor |
|---|---|
Singaporean | Singaporean |
Permanent Resident | Singaporean / Permanent Resident |
International | Singaporean / Permanent Resident / International |
Key Features
- Up to 25% of the subsidized tuition fees and or up to S$2,000 annual living allowance.
- Interest-free during the course of study.
- For applications submitted before 1 Apr 2024, interest, if applicable, is charged at average prime rate of DBS, OCBC, and UOB after graduation.
For applications from 1 Apr 2024 onwards, please click here for details. - Up to 5 years repayment period for interest bearing loan, and up to 2 years for interest free loan with repayment commencing after course completion.
- Minimum monthly repayment of $100.
Eligibility
- Singapore Citizens or Permanent Residents taking full-time diploma courses in any of the below institutions:
- Nanyang Academy of Fine Arts
- LASALLE College of the Arts
- Nanyang Polytechnic
- Ngee Ann Polytechnic
- Republic Polytechnic
- Have a gross monthly per capita income of $2,700 or less
- Fulfilling the above criteria, they are eligible for this loan if they have taken up the following schemes:
- Tuition Fee Loan Scheme
- CPF Education Scheme
- MENDAKI Subsidy Scheme/Loan
For the full criteria to apply for Study Loan, please refer to respective institution's website for more details.
Guarantor
- Aged from 21 to 60 years
- Is not an undischarged bankrupt
Student | Guarantor |
|---|---|
Singaporean | Singaporean |
Permanent Resident | Singaporean / Permanent Resident |
Upon your graduation, you will receive a letter from us on your loan repayment commencement date.
You can view the repayment options here.
The minimum repayment is S$100 per month. You can pay either a full lump-sum payment or by equal monthly instalments.
The maximum repayment period for the loan is 20 years (for University) and 5 years (for Polytechnic) from the commencement of the first repayment.
Yes, the loan is interest free during your course of study. Partial repayment can be made anytime to reduce your loan outstanding. For full repayment, it is subject to institution’s confirmation on the final outstanding amount.
Repayment via monthly instalment through GIRO is not allowed for loan which are yet to be graduated/withdrawn.
You can submit your request here and is subjected to Approving Authority’s approval. Please allow 2 to 3 months for Approving Authority’s review. The outcome will be notified to you via mail.
Do note that prior to the Approving Authority’s approval of this appeal, interest on the loan (if applicable) will continue to accrue and repayment will still be required.
We will withdraw the loan upon receiving the instructions from your respective institution, the loan outstanding will become due and payable in full by you immediately.
You will receive a letter via mail on the outstanding amount.
You may submit the appeal to repay via monthly instalments request here along with all relevant supporting documents.
We will notify you via mail once the appeal is approved. Do note that prior to the approval of this appeal, repayment will still be expected and late fee will still be charged if no payment is received.
No, you will receive an annual loan statement from the bank stating the amount that you have borrowed and repaid. Alternatively, you can check your digibank for the outstanding loan balance as of current cycle.
