Eligibility

All students regardless of citizenship can apply for the loan, except those as listed in the form.

Loan Amount

Up to 75% of the subsidized tuition fees payable

Application Period

The application period starts two (2) weeks before the start of each Semester, and is open for five (5) weeks. New students can apply during enrolment.

How to Apply

Student can submit an online application form at this website here, then print out the declaration form, complete with the required signatures. Students should submit the declaration form together with the required supporting documents to One-Stop Centre. Newly enrolled students should get ready to submit at the enrolment center.

Supporting documents:

For applicants who are Singaporeans/ Singapore Permanent Residents, the application form must be supported with a copy of student’s NRIC and guarantor’s NRIC.

For applicants who are non-Singaporeans, the application form must be supported with a copy of student’s passport and guarantor’s NRIC.

Interest Rate

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.

Repayment

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.