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)

The 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

Category Singapore Citizens (SC) and Singapore Permanent Residents (SPR) International Students (IS)
Gross monthly household Per Capita Income (PCI)* PCI  ≤ $950 PCI between $951 and $2,700 PCI ≤ $1,200
Requirement Student must be on Tuition Fee Loan, and/ or CPF Education Scheme and/or Mendaki Tertiary Tuition Fee Subsidy which covers at least 80% of subsidised tuition fees payable by Singapore Citizens. Student must be under on Tuition Fee Loan, and/ or CPF Education Scheme and/or Mendaki Tertiary Tuition Fee Subsidy which covers at least 90% of subsidised tuition fees payable by Singapore Citizens. Student must be under on Tuition Fee Loan, and/ or CPF Education Scheme and/or Mendaki Tertiary Tuition Fee Subsidy which covers at least 90% of subsidised tuition fees payable by Singapore Citizens.
Coverage of Study Loan Loan that covers up to 20% of subsidised tuition fees payable by Singapore Citizens. Loan that covers up to 10% of subsidised tuition fees payable by Singapore Citizens Loan that covers up to 10% of subsidised tuition fees payable by Singapore Citizens
(optional)
Loan that provides a living allowance of $1,200 or $2,400 or $3,600 per academic year.

* 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 $1,200 or $2,400 or $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.

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.

Maximum Repayment Period

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

Interest Rate

  • Average prime rate of 3 local banks (DBS, OCBC, and UOB)
  • Interest-free during studies.
  • The interest and loan sum are paid to the bank.

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

Applications are now open and will close on 27 September 2019.

Instructions to Applicants

  1. Click here for the Study Loan application form.

  2. Click here for the Document Checklist.

  3. Click here for the Self Declaration form (Parents/Siblings who are self-employed)

  4. Click here for the Study Loan Application Procedures.

  5. Click here for the Study Loan 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) via one of the following modes:

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

2. 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.