Financial Aid

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

The MOE Study Loan helps to cover a partial amount of the subsidised tuition fees payable by a Singapore Citizen and can also provide a living allowance.

Loan Amount

* Monthly household per capita income refers to the total income of family members living in the same household divided by the number of family members in the household.
 
Note:
(a) As the subsidised tuition fees for SPR and IS are higher than the fees for SC, the study loan will not cover the tuition fees of SPR and IS  in full.
(b) 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• International undergraduate students who are paying full fees from the point of admission or had withdrawn from the Tuition Grant scheme during their course of study, are not eligible for the loan scheme.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 eligibility 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. 

• Students who are in receipt of a scholarship which covers 100% of the subsidised tuition fees but does not provide any allowance, may apply for the study loan which can provide a living allowance of S$1,200 or S$2,400 or S$3,600 per academic year.

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.

7. Please refer to Scenario A or B under the 'Submission to DBS Bank' section.

Repayment Start Date

It can commence within 6 months after graduation.

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

Maximum Repayment Period

Interest-free Loan: 5 years
Interest-bearing Loan: 20 years

Interest Rate

• Interest Rate*: 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.
  *not applicable to interest-free Study Loan

• 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.

• The interest rates will be revised on a half-yearly basis based on the 3M SORA¹ published on the Monetary Authority of Singapore’s (MAS) website² on 1 March (for the period 1 April to 30 September) or 1 September (for the period 1 October to 31 March of the following calendar year)³. You can visit DBS website at go.dbs.com/sg-moeloanrates for the applicable interest rates on every 1 April and 1 October.

• Interest-free during studies.

• The interest and loan sum are paid to the bank.

1  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.

2  https://eservices.mas.gov.sg/statistics/dir/DomesticInterestRates.aspx

3  If 1 March or 1 September falls on a weekend and/or a public holiday when the 3M SORA rates are not published by MAS, we will take the 3M SORA published on the MAS website on the last preceding business day in Singapore. For example, if 1 September is a Saturday, we will take the 3M SORA published on MAS website on 31 August.

For SC and SPR:

• Loan is interest-free up to 5 years after graduation if PCI ≤ S$950.

• 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:

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

Application Period

Existing Students: Application is now open and will close on 14 February 2025

Instructions to Applicants

1. Download the MOE Study Loan Application Form.
2. Refer to the Document Checklist.
3. Download the Self Declaration Form (Parents/Siblings who are self-employed).
4. Refer to the MOE Study Loan Application Procedures.

Students can submit the completed application form along with the required supporting documents to the Office of Student Administration (OSA) via one of the following modes:

1.  Via email to scholarships_financialaid@sutd.edu.sg in a single PDF file. Please retain the original copies of the forms and supporting documents. We will contact you for submission of the original copies at a later date.

2. Office of Student Administration (OSA) Form Submission Box located at SUTD Building 3, Level 2 (near Lift Lobby J)

3. Postal mail to the following address:
    Singapore University of Technology and Design
    Office of Student Administration (OSA)
    8 Somapah Road
    Singapore 487372

Incomplete submissions will not be processed. Successful applicants will be notified via email from OSA.

Submission to DBS Bank

• If you and your guarantor are in Singapore, please refer to Scenario A
• If your guarantor is not residing in Singapore, please refer to Scenario B

Scenario A: Guarantor residing in Singapore
If your guarantor is residing in Singapore, you can now submit your application to DBS online. You no longer need to submit a hard copy application form to the DBS branch.
Important note: Applicants and Guarantors must update DBS Bank of any change in their personal information i.e. mobile number and address before the submission of their loan application.
 
Scenario B: Guarantor not residing in Singapore (Applicable for International Student)
International Student with guarantor who is not residing or working in Singapore will not be able to apply digitally. Please follow the below steps instead:

• Step 1: Guarantor completes application form and signs SL application form and Letter of Offer in the presence of a notary public or officer from Singapore Embassy.

• Step 2: Guarantor mails/couriers all the completed and notarised original documents from Step 1 to Student in Singapore.

• Step 3: Student brings all the documents received from Guarantor, own passport and photocopy of guarantor’s Identity Card/passport to sign Letter of Offer in the presence of a bank officer in DBS Singapore Raffles Place Branch to process the loan agreement. Do note that all other DBS/POSB Branches will not accept MOE Study Loan or MOE Tuition Fee Loan applications. The location and operating hours are as follows:
  
  DBS Raffles Place Branch
  22 Malacca St #01-00 RB Capital Building
  Singapore 048980
  
  Operating hours
  Mondays to Fridays: 8.30am to 4.30pm
  Saturdays: 8.30am to 1pm
  Excluding Sundays and Public Holidays

Important note: Applicants and Guarantors must update DBS Bank of any change in their personal information i.e. mobile number and address before the submission of their loan application.