Study Loan Scheme

All students (i.e. SC/SPR/IS) studying full-time in MOE subsidised undergraduate degree courses in SUTD are eligible to apply for the Study Loan Scheme provided they have been awarded one or a combination of the following three schemes covering at least 80% of the subsidised fees payable by Singapore Citizens (SC).

  1. Tuition Fee Loan (TFL)
  2. CPF Education Scheme (CES)
  3. Mendaki Tertiary Tuition Fee Subsidy (TTFS)


Loan Amount

 
Scheme 1 Scheme 2 Scheme 3
Tuition Fee Component
Up to 20% of subsidised tuition fees payable by Singapore Citizens. Up to 10% of subsidised tuition fees payable by Singapore Citizens. Not applicable.
Living Allowance Loan Component
May also opt to apply for a living allowance loan of $1,200; $2,400 or $3,600 per academic year. May also opt to apply for a living allowance loan of $1,200; $2,400 or $3,600 per academic year. May apply for a living allowance loan of $1,200; $2,400 or $3,600 per academic year.
Note: The quantum of loan excludes payment of compulsory miscellaneous fees.

Eligibility

  • All full-time undergraduate students paying subsidised tuition fees are eligible for the loan scheme.

  • All full-fee paying Singapore Citizens and Singapore Permanent Residents are eligible for the loan scheme, with the maximum loan amount capped at subsidised fees payable by a Singapore Citizen.

  • International undergraduate students who are paying full fees from the point of admission or had withdrawn from the Tuition Grant scheme during their couse of study, are not eligible for the loan scheme. 

  • International undergraduate students who are required to pay full fees because they have used up their subsidy eligbility during the course of study will be able to continue holding the loan scheme, provided they have taken it up when they were paying subsidised fees. 

Scheme 1 Scheme 2 Scheme 3
Awarded 80% subsidy/loan. Awarded 90% subsidy/loan. Awarded 100% subsidy/loan.
Singapore Citizens (SC) and Singapore Permanent Residents (SPR)
Gross monthly household per capita income * ≤ $950. Gross monthly household per capita income between $951 and $2,700. Gross monthly household per capita income between $951 and $2,700.
International Students (IS)
Not applicable. Gross monthly household per capita income of ≤ $1,200. Gross monthly household per capita income of ≤ $1,200.
Note: As the subsidised tuition fees for SPR and IS are higher than the fees for SC, the study loan taken by SPR and IS will not cover the tuition fees in full.

Guarantor

  1. Must be between the ages of 21 and 60 years old.
  2. Must not be an undischarged bankrupt or be a student pursuing full-time education.
  3. May not serve in this capacity for more than two outstanding student loans, including this loan.
  4. Must be a Singapore Citizen for an applicant who is a Singapore Citizen.
  5. Can be either a Singapore Citizen or a Singapore Permanent Resident for an applicant who is a Singapore Permanent Resident.
  6. Can be of any nationality for an applicant who is an International student.

Repayment Start Date

It can commence within 6 months after graduation or upon graduates securing employment, whichever is earlier.

Repayment can be made either by full lump-sum payment or by monthly instalments.

Minimum Repayment Amount

$100 per month.

Maximum Repayment Period

Scheme 1: 5 years
Scheme 2 and 3: 20 years

Interest Rate

Average prime rate of 3 local banks.

Interest free during studies.

Interest and loan sum are paid to the bank.

For SC and SPR:

  1. Loan is interest free up to 5 years after graduation if PCI ≤ S$950.
  2. For PCI > S$950, interest computation is deferred until after graduation and will start to accrue on the 1st of the following month after graduation/withdrawal.

For IS:

  1. The loan is interest bearing after graduation/withdrawal regardless of PCI.

Application Period

1 Mar 2018 to 25 May 2018

Instructions to Applicants

  1. Click here for the SL application form.
  2. Click here for the Document Checklist form.
  3. Click here for the Self Declaration form (Parents/Siblings who are self-employed)
  4. Click here for the SL Application Procedures.
  5. Click here for the SL Guarantor Verification Process for International Students

Students can submit the completed SL forms along with the required supporting documents to the Office of Student Administration (OSA) by using one of the following modes:

  1. Office of Student Administration (OSA) forms submission drop-off box located outside Building 3, Level 2, Near Lift Lobby
  2. Postal mail to the following address
    Singapore University of Technology and Design
    Office of Student Administration (OSA)
    8 Somapah Road
    Singapore 487372

All incomplete submissions will not be processed.

Points to Note

  1. Interest will be accrued on a monthly basis.
  2. Penalty interest will be levied at the rate of 1% per month on instalments in arrears.

* Monthly household per capita income refers to the total income of all those living in the household divided by the number of people in the household.