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Higher Education Student Loan (HESL)

Graduate with confidence! Interest-free loan during studies, repay after.
One-stop financial solution for your post-secondary education: HESL can cover certain percentage of subsidised tuition fees and other study-related expenses.
Zero interest and repayments while you are studying: Interest will only start accruing after your graduation and repay as low as S$100 a month.
Stress-free repayment period: Up to 10 years repayment period, which starts after course completion.
Higher Education Student Loan (HESL)
Higher Education Student Loan (HESL)
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Overview
Overview
How it works
Eligibility
Loan repayment
Repayment channels
Apply now
FAQ

How It Works

HESL – Your one-stop financial aid for your education journey!

HESL Component

Coverage Type

Loan Provision

Base Provision

Coverage Type

Tuition Fees

Loan Provision

Covers up to 90% of subsidised tuition fees, depending on the student's citizenship.
Balance Fee Coverage

Coverage Type

Tuition Fees

Loan Provision

Covers the remaining 10% of subsidised tuition fees.
Living Allowance Loan

Coverage Type

Living Expenses

Loan Provision

Up to S$3,200 and S$4,100 per academic year for Diploma and Undergraduate students respectively.
Overseas Student Programme

Coverage Type

Overseas Study Programme

Loan Provision

Up to $12,000 to cover institution-approved overseas programme costs. Loan can only be taken once during undergraduate studies.

Eligibility

Student

Please refer to MOE website for more details on student eligibility.

Guarantor
  • Guarantor must be aged between 21 and 60 years at the point of application.

  • Guarantor must not be an undischarged bankrupt at the time of application.

Approved Institutions
  • View the full list in the footnote below.
Full list

Interest Rate

The HESL is interest-free during course of study, and interest will start upon your graduation or when you leave the institution.
Standard interest

3-month compounded Singapore Overnight Rate Average (3M SORA) plus 1.5 percentage points or such other rates as may be determined from time to time by the bank

Late payment interest for overdue and unpaid loans/loan instalment

3M SORA plus 4.5 percentage points or such other rates as may be determined from time to time by the bank

Important notes

The interest rates are revised on a half-yearly basis based on the 3M SORA published on the Monetary Authority of Singapore's (MAS) website on:

  • 1 Mar for the period 1 Apr to 30 Sep
  • 1 Sep for the period 1 Oct to 31 Mar of the following calendar year

For instances where 1 Mar and/or 1 Sep falls on a weekend and/or a public holiday and rates are not published by MAS, the interest rate will take reference from the 3M SORA published on the Singapore business day before.

Interest Rates Change from 1 Oct 2026

The following interest rates will be applicable to all Government education loan (i.e. Tuition Fee Loan, Study Loan, Overseas Student Programme Loan, Higher Education Student Loan) agreements signed on and after 1 Apr 2024.

You may click here for the historical applicable interest rates on every 1 Apr and 1 Oct.

SORA is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8am and 6.15pm. The 3-month compounded SORA is the rolling compounded average of daily SORA over the past respective period.

Loan Repayment

The maximum repayment period for the HESL is 10 years.
Upon graduation, you can opt to repay the HESL account either by a full lump-sum payment, partial payment or monthly instalments.

Repayment channels

1
Cheque PaymentPayee Name: DBS Bank Ltd. Please indicate the HESL account number and Passport/NRIC for reference and drop the cheque at the Quick Cheque Deposit Box
2
Cash Payment at Branch
3
Telegraphic / Wire TransferBeneficiary: DBS BANK, Current Account 003-957600-5, Reference: HESL account ref: XX-XXXXXX-X, Singapore DBS Bank SWIFT address: DBSSSGSG
4
Post-Secondary Education Account (PSEA)Application may be made to MOE to utilize PSEA funds to make repayment towards their loans. For more information on PSEA usage, eligibility and application, click on 'Learn more' below.
Learn more about PSEA here.
FAQ
Kindly take note of transfer charges (if any) so that there will not be a shortfall in the settlement amount.

Apply now

Simple Steps to your application for HESL:
1
Check eligibilityMake sure you fulfil all the criteria required (please refer to the list in eligibility section
2
Before you apply do refer to the followingPlease ensure that both the applicant and guarantor have a DBS/POSB account. You should also ensure that your personal details are updated before submitting your application.
Click here to open a DBS/POSB account
Update your personal details here
3
StudentLoanSG (SLSG) portalApply for HESL through the StudentLoanSG (SLSG) portal using your Singpass account
Important: Please ensure that your personal details with the Bank are consistent with the information submitted for your HESL application via the StudentLoanSG portal. Any discrepancies or inconsistencies may result in your HESL application being rejected.

Frequently Asked Questions