MOE Study Loan

The MOE Study Loan is meant for both local and international NTU undergraduates* who require assistance to finance part of their tuition fees and/or living expenses.

1. Students will only be covered under the scheme for the first 3 years of the Biomedical Sciences & Chinese Medicine programme.
2. International students paying non-subsidised tuition fees are not eligible to apply for financial aid schemes.
3. The MOE Study Loan is not a guaranteed loan and will be awarded only to those who meet the eligibility criteria.

Depending on your household Per Capita Income (PCI), the above scheme(s) must cover at least 80% or 90% of the subsidised tuition fees payable by Singaporeans for a similar programme of study before the Study Loan funds can be disbursed for each semester.

Gross income of family members in household
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Total number of family members in household

Gross income refers to amount before deduction of CPF. It includes allowances, overtime, commissions etc.

The MOE Study Loan is a 2-in-1 loan which finances part of the tuition fees and living costs.

• MOE Tuition Fee Loan and/or
• CPF education Loan scheme (CPF) and/or

• Mendaki Tertiary Tuition Fee Subsidy and/or
• Mendaki Loan and/or
• Post Secondary Education Account (PSEA)

• Up to 10% of the subsidised tuition fee payable by Singaporeans.
• May also opt to apply for a living allowance loan of S$1,200, S$2,400 or S$3,600 per AY.
• Loan is disbursed in Semester 1 and 2.

• MOE Tuition Fee Loan and/or
• CPF education Loan scheme (CPF) and/or
• Mendaki Tertiary Tuition Fee Subsidy and/or
• Mendaki Loan and/or
• Post Secondary Education Account (PSEA)

• Up to 20% of the subsidised tuition fee payable by Singaporeans.
• May also opt to apply for a living allowance loan of S$1,200, S$2,400 or S$3,600 per AY.
• Loan is disbursed in Semester 1 and 2.

Note: For SPR and international students who take up both the MOE Tuition Fee Loan and MOE Study Loan, you will only receive a total loan amount equivalent to the subsidised tuition fees payable by Singaporeans for a similar programme of study. As the subsidised tuition fees for SPR and international students are higher than the fees for Singaporean students, the loans will not cover your tuition fees in full.

For students who are using a combination of loans &/or subsidies to settle their MOE subsidised tuition fees, the disbursement sequence is as follows:

1. Mendaki Tertiary Tuition fee Subsidies (MTTFS) where applicable
2. PSEA funds where applicable
3. CPF funds under the CPF Education Loan Scheme where applicable
4. MOE Tuition Fee Loan (TFL) where applicable
5. MOE Study Loan (SL) where applicable
6. Bursary where applicable
7. GIRO deduction from students' own account/other account (for those with a GIRO arrangement with NTU to pay their semestral tuition & compulsory miscellaneous fees)

The total disbursements shall not exceed the amount of tuition, compulsory miscellaneous and late fees payable.

• Living Allowance Loan funds will be used to offset any tuition / compulsory miscellaneous fees that are still outstanding at the point of the funds disbursement.

• One guarantor aged 21 to 60 years (based on the guarantor's age at the point of application), and not an un-discharged bankrupt.
• There is no income qualification.
• A loan applicant who is a:
  • Singaporean student to provide a Singaporean guarantor.
  • Singapore Permanent Resident student to provide a Singaporean/Singapore Permanent Resident guarantor.
  • International students to provide a guarantor of any nationality.

  Interest

  • Interest free during studies.
  • For Singaporeans and SPRs, loan is interest-free up to 5 years after graduation if PCI ≤S$950. Otherwise, the loan will be interest bearing after graduation.
  • For international students, the loan is interest bearing after graduation regardless of PCI.
  • The following interest rates will be applicable to all new Government education loan (i.e. MOE Tuition Fee Loan, MOE Study Loan, Overseas Student Programme Loan) agreements signed on and after 1 April 2024.

  Standard interest*	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

  * not applicable to interest-free Study Loan

  The interest rates will be revised on a half-yearly basis based on the 3M SORA 1 published on the Monetary Authority of Singapore’s (MAS) website 2 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 Development Bank of Singapore (DBS Bank) website for the applicable interest rates on every 1 April and 1 October.

  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.

  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.

  Commences 6 months after graduation or securing employment, whichever is earlier.

  Repayment of loan can be in one lump sum or by equal monthly instalments of minimum S$100.

  • Up to 5 years (if loan is interest waived) or
  • Up to 20 years (if loan is interest bearing).

  Step 1: Prepare the required supporting documents for application.

  Step 2: Submit your application with supporting documents via the Financial Aid Application Portal.
  

  Step 3: You may login to the Portal to check on the progress of your application. The Finaid Office will email you if any follow-up or further information is required.

  Step 4: You will be informed of the outcome via your NTU email account. Please accept/decline your financial aid offer via the Portal.

  Step 5: Upon accepting the MOE Study Loan offer, you and your guarantor will be required to apply for DBS Digibank access here. Student whose guarantor is a Singapore Citizen/Permanent Resident/Foreigner (pass-holder residing or working in Singapore) can apply for DBS Digibank access to complete the loan signing at DBS Study Loan Digital Application online. Refer to the guide for more information on how to apply for your DBS Study Loan Digital Application. DBS Study Loan Digital Application is only applicable for guarantor who is a Singapore Citizen/Permanent Resident/Foreigner (pass-holder residing or working in Singapore).

  If your guarantor is a foreigner who is not able to proceed with DBS Study Loan Digital Application, you may contact Financial Aid Office via Ask Finaid (Current Student) to prepare the Loan Agreement for collection from NTU. Upon collection, you and your guarantor may proceed to bring the copy to sign the loan agreement with your guarantor at DBS Raffles Branch in the presence of a bank officer (Student and Guarantor signing in Singapore)

  If your guarantor is residing in overseas and cannot apply for DBS Digibank Access, you may send the loan agreement back to your guarantor to sign the original NTU Study Loan Agreement in the presence of a Notary Public / officer from Singapore Embassy in home country (Student signing in Singapore, Guarantor signing in home country).

  You need to only apply once for this loan to cover you for the duration of your programme at NTU. If you had already applied for this loan, you do not need to apply again.