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FINANCIAL ASSISTANCE SCHEMES: CPF EDUCATION SCHEME FAQsQ1: How does the CPF Education Scheme work?A: The Education Scheme is a loan scheme which enables members to use CPF savings from their Ordinary Account to pay for their children's or their own tuition fees (excludes supplementary fees). The student has to repay the amount withdrawn plus interest, in cash subsequently. Only full time subsidised courses at approved local tertiary institutions are included under this loan scheme. Students can also use savings from siblings’ or relatives’ CPF account to pay for the fees. Q2: Who is eligible to apply for payment of tuition fees under CPF education scheme?A: 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. For more information, please click here. Q3: Whose CPF savings can I use to pay for my tuition fees?A: You can use your own, parents’, siblings’ or relatives’ CPF savings from the Ordinary Account to pay for your tuition fees, subject to terms and conditions by CPF board. The CPF board will consider the use of your sibling’s or relative’s CPF savings on a case-by-case basis. However, if you are using a relative’s CPF savings to pay for your fees, only up to 25% of your fees will be covered under the scheme. Q4: Can I use my relative’s CPF savings to pay for my tuition fees?A: If you are using a relative’s CPF savings to pay for your fees, only up to 25% of your fees will be covered under the scheme. Q5: How can I check if there are enough monies in the CPF account to pay for the tuition fees?A: Please visit the CPF website here for more information. Q6: Is there any limit on the amount of tuition fee I can pay using CPF?A: You can apply to pay the full amount of tuition fee using CPF, provided the amount does not exceed 40% of the CPF Member's accumulated Ordinary Savings (excluding amounts withdrawn for housing) or the remaining balance in the Ordinary Account after setting aside any amounts reserved for housing or other schemes (if any). For more information, please click here. Q7: How can I apply for CPF Education Scheme?A: During the application period, you can apply online at the CPF website. Both you and the CPF member must each have a SingPass and an email account. If you need to obtain Singpass, please visit the nearest CPF office. Note: All students should forward the acknowledgement email that they should receive after successful application online, to help-registrar@rp.sg. This will notify the school of the online application. Q8: If I apply for the CPF Education Scheme online, how will the school be notified?A: CPF Board does not notify the school of your application. You should forward the acknowledgement email that you should receive after successful application online, to help-registrar@rp.sg. This will notify the school of your online application. Q9: Can I apply for the CPF Education Scheme directly at the nearest CPF Board office?A: No. All applications must be done online during the application period. Q10: Do I still have to pay my tuition fees if I apply for the CPF Education scheme?A: This depends on the quantum you are applying for. If you are not applying to pay 100% of the tuition fees by CPF, then you would need to pay the balance of the fees not covered by CPF plus the Annual Supplementary Fees, which is not covered by the scheme. Q11: How much do I repay CPF Board if I use CPF Education Scheme to pay tuition fees?A: You need to repay the full amount of CPF savings withdrawn plus interest which is computed from the time the savings are withdrawn. Q12: Is there any interest charged on the use of the CPF savings?A: Yes, interest will be accrued at the prevailing CPF rate from the date of withdrawal. Q13: When does repayment for the CPF Education Scheme commence?A: Repayment of the CPF amount withdrawn plus interest will commence only 1 year after you graduate or 1 year after you leave the course, whichever is earlier. Q14: What is the maximum period of repayment for the CPF Education Scheme?A: You can repay the CPF sum withdrawn by monthly installments over a maximum period of 12 years. The minimum amount of monthly installment is $100. Q15: Can I defer my repayment for the CPF Education Scheme if I have to serve National Service?A: You can apply for deferment on the grounds of full-time study or full-time National Service by completing and returning form AES/D1 together with the relevant documentary evidence. This form will be enclosed in the student's repayment and is also available at all CPF offices. Q16: How will I be notified of the status of my CPF Education Scheme application and deduction?A: CPF Board will inform you and the CPF member on the status of your application by mail. Any deduction from the Member’s CPF account will also be notified by post. Q17: How do I cancel my CPF payment for tuition fees and start paying by cash?A: You must complete and submit the CPF revocation form to the One-Stop Centre. Please also inform the Office of Registrar by dropping an email to help-registrar@rp.sg. You must then make arrangement to settle your tuition fees by NETS at One-Stop Centre or by cash/cheque at OCBC bank. Q18: How do I switch from GIRO payment to CPF payment for my tuition fees?A: Please inform the Office of Registrar by dropping an email to help-registrar@rp.sg. You will need to apply for the CPF Education Scheme online during the application period. Your GIRO arrangement will still be maintained for the payment of the annual supplementary fees not covered by the CPF Education Scheme. Q19: How do I change the CPF account to be used to pay my fees?A: During the application period, you must submit a revocation form to revoke using the current CPF account. Then submit a new application online to use the preferred CPF account. Q20: What should I do if my application to the CPF Education Scheme is rejected?A: Should your application be rejected and you need financial, you can email to help-registrar@rp.sg. The officers will assess your situation and appropriately advise on other financial schemes. Q21: What must I take note of if I am using CPF savings to pay for my tuition fees?A: The CPF member should prepare enough monies in his/her CPF Ordinary account one month before the school term starts. This is to ensure successful deduction for your tuition fees on the stipulated deduction date, which you will be informed of. Should the deduction is unsuccessful/partial, you will have to settle the fees via other financial schemes or cash/nets/cheque/giro (if applicable). Q22: Where can I find out more details of the CPF Education Scheme?A: Please visit the CPF website here. Please click here for all Student Finance FAQs |