CPF
|
Central Provident Fund (CPF) Education Scheme |
All full-time students with CPF savings, or whose parents’, siblings’ or
relatives’ CPF savings in their Ordinary Account have met the minimum
requirement can apply for loans under CPF approved education scheme.
You must check with CPF board if you have the required minimum CPF
savings for paying tuition fees.
Up to 100% of the subsidized tuition fees payable.
Provided CPF account has sufficient monies, the scheme can help to pay
tuition fees for entire course.
The application period for AY 2010/2011 commences on 22 Feb 2010 and ends on 28 Apr 2010.
New students can apply during enrolment.
Submit an application via the Student Finance System which is accessible
here.
Repayment will commence one year from the date of completion of the course or one year from the date he
leaves the institution, whichever is the earlier.
Repayment may be made over a maximum period of 12 years by monthly instalments. For outstanding
amounts of up to $10,000, the minimum amount repayable is $100 per month. Accelerated lumpsum
repayment in multiples of $100 for each repayment is also allowed.
To find out more about the repayments and interest rates on the loan
under the CPF education scheme, please visit the
CPF website.
You can click
here to get your answers from the frequently asked questions.
* Students who are on Mendaki Tertiary Tuition Fee Subsidy (MTTFS) or
have applied for loans (e.g. Tuition Fee Loan) should proceed to adjust
the precentage of Tuition Fees covered by their CPF Education Scheme so
that excess deduction will not occur.
Tuition Fee Loan
|
Tuition Fee Loan (TFL) Scheme |
All students regardless of citizenship can apply for the loan, except those as listed in the form.
Up to 75% of the subsidized tuition fees payable.
The application period for AY 2010/2011 commences on 22 Feb 2010 and ends on 28 Apr 2010.
New students can apply during enrolment.
Student can submit an online application form at this website
here, then print out the application form, complete with the required signatures. Students should submit the application form together with the required supporting documents (Refer to Supporting Documents) to One-Stop Centre.
New students can submit their applications during enrolment.
For applicants who are Singaporeans/ Singapore Permanent Residents, the application form must be supported with:-
- A copy of student’s NRIC
- A copy of guarantor’s NRIC
For applicants who are non-Singaporeans, the application form must be supported with:-
- A copy of student’s passport/NRIC/FIN
- A copy of guarantor’s NRIC/FIN
Students applying for the Tuition Fee Loan scheme must obtain someone to act as their guarantor. The requirements of the guarantor are as follows:-
- Between 21 to 60 years old
- Must be Singapore Citizen or Singapore Permanent Resident
- Must not be an undischarged bankrupt
Minimum amount of repayment per month: $100. Penalty interest will be charged at the rate of 1% per month for instalments in arrears.
Loans will be repaid over 10 years, beginning on 1st June or 1st December depending on the semester you graduate.
If you leave the course without completing the study, the loan will become immediately due and payable. For those with NS obligations, repayment will commence 1 year after completion of NS.
The Interest Rate is set at the Average Prime Lending Rate of OCBC, UOB and DBS. While the Loan is interest-free during the course of study, interest will be chargeable immediately upon graduation.
For those with NS obligations, the interest will be charged 1 month after ORD.
Study Loan A
|
Study Loan Scheme (Component A) |
Students must be full-time Singaporeans or Singapore PR students. The loan will be awarded only to students who need financial support to pay tuition fees.
Only students who have applied for the Tuition Fee Loan Scheme and/or who have been awarded a tuition fee loan/subsidy through the CPF Approved Education Scheme or Mendaki, provided that the total amount of the aforementioned loan and/or subsidy is NOT less than 75% of the tuition fees.
Up to 25% of the subsidised tuition fees payable.
The application period for AY 2010/2011 commences on 22 Feb 2010 and ends on 28 Apr 2010.
Newly enrolled students can apply during enrolment.
Student can submit an online application form at this website
here, then print out the application form, complete with the required signatures. Students should submit the application form together with the required supporting documents (Refer to Supporting Documents) to One-Stop Centre.
New students can submit their applications during enrolment.
For all applicants, the supporting documents include:-
- A copy of student’s NRIC
- A copy of the family members’ NRIC (if not, then birth certificates)
- Income statements of family members who are gainfully employed
Students applying for the Tuition Fee Loan scheme must obtain someone to act as their guarantor. The requirements of the guarantor are as follows:-
- Between 21 to 60 years old
- Must be Singapore Citizen or Singapore Permanent Resident
- Must not be an undischarged bankrupt
Loans will be repaid over 2 years (Tier 1) or 5 years (Tier 2), beginning on 1st June or 1st December depending on the semester you graduate.
Please see table below for more information.
| Singaporean/PR |
Singaporean/PR |
Gross monthly per capita family income ceiling up to $500 |
Gross monthly per capita family income ceiling up to $1000 |
|
If you leave the course without completing the study, the loan will become immediately due and payable. For those with NS obligations, repayment will commence 2 months after completion of NS.
Minimum amount of repayment a month: $100. Penalty interest will be charged at the rate of 1% per month for installments in arrears.
Interest will accrue immediately upon graduation. For those with NS obligations, the interest will be charged 1 month after ORD
Study Loan B
|
Study Loan Scheme (Component B) |
Students must be full-time Singaporeans or Singapore PR students. The loan will be awarded only to students who need financial support to maintain living expenses.
Only students who have applied for the Tuition Fee Loan Scheme and/or who have been awarded a tuition fee loan/subsidy through the CPF Approved Education Scheme, Mendaki, or Study Loan A provided that the total amount of the aforementioned loan and/or subsidy is NOT less than 100% of the tuition fees.
Component B: Up to $2000 for any 2 consecutive semesters, to meet living expenses. Successful applicants will be given $1000 per semester.
The application period for AY 2010/2011 commences on 22 Feb 2010 and ends on 28 Apr 2010.
Newly enrolled students can apply during enrolment.
Student can submit an online application form at this website
here, then print out the application form, complete with the required signatures. Students should submit the application form together with the required supporting documents (Refer to Supporting Documents) to One-Stop Centre.
Newly enrolled students should get ready to submit at the enrolment center.
For all applicants, the supporting documents include:-
- A copy of student’s NRIC
- A copy of the family members’ NRIC (if not, then birth certificates)
- Income, CPF or Tax statements of family members who are gainfully employed
Students applying for the Tuition Fee Loan scheme must obtain someone to act as their guarantor. The requirements of the guarantor are as follows:-
- Between 21 to 60 years old
- Must be Singapore Citizen or Singapore Permanent Resident
- Must not be an undischarged bankrupt
Loans will be repaid over 2 years (Tier 1) or 5 years (Tier 2), beginning on 1st June or 1st December depending on the semester you graduate.
Please see table below for more information.
| Singaporean/PR |
Singaporean/PR |
Gross monthly per capita family income ceiling up to $500 |
Gross monthly per capita family income ceiling up to $2400 |
|
If you leave the course without completing the study, the loan will become immediately due and payable. For those with NS obligations, repayment will commence 2 months after completion of NS.
Minimum amount of repayment a month: $100. Penalty interest will be charged at the rate of 1% per month for installments in arrears.
Interest will accrue immediately upon graduation. For those with NS obligations, the interest will be charged 1 month after ORD.