MOE Tuition Fee Loan

This scheme is an educational loan administered by one of the local banks, on behalf of SUTD to Singapore Citizens, Singapore Permanent Residents and International Students pursuing an MOE subsidised degree in SUTD.

Loan Amount

Up to 90% of subsidised tuition fees payable by full-time Singapore Citizen undergraduate students.

Note:

  • The quantum of loan does not include payment of compulsory miscellaneous fees and hostel fees
  • The quantum of loan is pegged to the tuition fees payable by Singapore Citizen undergraduate students

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  • International undergraduate students who are paying full fees from the point of admission or had withdrawn from the Tuition Grant scheme during their couse of study, are not eligible for the loan scheme.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

Guarantor

  • Must be between the ages of 21 and 60 years old.

  • Must not be an undischarged bankrupt or be a student pursuing full-time education.

  • May not serve in this capacity for more than two outstanding student loans, including this loan.

  • Must be a Singapore Citizen for an applicant who is a Singapore Citizen.

  • Can be either a Singapore Citizen or a Singapore Permanent Resident for an applicant who is a Singapore Permanent Resident.

  • Can be of any nationality for an applicant who is an International student.

Loan Repayment and Interest Rate​

  • Repayment: Not later than 2 years after graduation.

  • Minimum Repayment Amount: S$100 per month

  • Maximum Repayment Period: 20 years

  • 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.

  • 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 and loan sum are paid directly to the bank.

  • The loan is interest-free during the course of study, i.e. interest will only start accruing after graduation.

  • Student should follow up with the appointed local bank in writing for the repayment of the loan amount if the student withdraws from studies or has his/her studies terminated.

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  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.

Application Period

Existing Students: Application is now open and will close on 2 September 2024
Incoming Students (Matriculating in AY2024): Application is now open and will close on 2 September 2024

How to Apply

Instructions to Applicants

  1. You can now submit your TFL application to DBS online (please refer to the 'Important Notes' section below). 

  2. Do take the time to read through the application guide to learn more about what you need prepare in advance to be able to submit your TFL application online.

  3. When you are ready, please visit Tuition Fee Loan | DBS Singapore and follow the instructions under the ‘Apply Now’ section.

Important Notes:

  • Digital TFL Application is only applicable to applications with Guarantors who are Singapore Citizens/Permanent Residents and Foreigners who are pass-holders (residing or working in Singapore). If your Guarantor is neither residing nor working in Singapore, please refer to the guide for more information on how to apply for your TFL.

  • Foreigners (not residing or working in Singapore) acting as a guarantor will not be able to apply digitally. Students may email scholarships_financialaid@sutd.edu.sg to obtain a PDF application form for submission instead.

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