The MOE Study Loan (SL) is a means-tested Government loan scheme, and complements the Tuition Fee Loan (TFL). The SL provides loans to cover up to the remaining 10% of tuition fees not covered by the TFL. It does not cover any other miscellaneous fees.
Singapore University of Social Sciences has appointed DBS Bank Ltd as the agent to administer the SL Scheme.
Singapore Citizen (SC) and Singapore Permanent Resident (PR) students studying the Law programmes in the University are eligible to apply for the SL.
Law students who are awarded fee subsidy or loan by an organisation registered with a government agency or have applied for the government TFL in full or a mixture of both, provided the total subsidy or loan is not below 80% (for students with gross monthly household per capita income (PCI) of S$950 and below) or 90% (for students with PCI more than S$950 and up to S$2,700) of subsidised fees payable by SC shall be considered for the SL. The maximum limit of SL is 10%/20% of the subsidised fees payable by SC plus S$3,600 per annum for living allowance. The total loan amounts for fees (from TFL, SL and other loans) should not exceed 100% of the fees payable by the student.
Students who have obtained loans amounting to 100% of tuition fees payable from either the CPF Education Scheme or a combination of the TFL and the CPF Education Scheme can borrow up to the maximum living allowance loan quantum only.
Those who are awarded Mendaki fee subsidy or loan can borrow up to the maximum living allowance loan quantum only.
The University has the discretion on the quantum of the loan to be granted based on its assessment of the student's needs for financial assistance.
Loan Criteria and Quantum
The SL will be awarded on a means-tested (i.e., needs analysis) basis. The loan quantum is based on the student's Gross Monthly Household Per Capita Income (PCI):
|Loan Type||Tier 1 Study Loan (Waiver of Interest)||Tier 2 Study Loan (With Interest)|
|Income Criteria||Gross Monthly Household Per Capita Income* ≤ S$950||Gross Monthly Household Per Capita Income* > S$950 and ≤ S$2,700|
|Maximum Quantum of Loan||Maximum of 20% of subsidised tuition fees payable by SC plus annual living allowance loan of S$3,600||Maximum of 10% of subsidised tuition fees payable by SC plus annual living allowance loan of $3,600|
* Monthly household per capita income is computed based on total gross income of immediate and non-immediate family members over the total number of immediate and non-immediate family members.
You would need a guarantor to apply for SL. Although there is no income qualification, your guarantor must be:
- Between 21 and 60 years
- Not a bankrupt
- A Singapore Citizen (SC) if applicant is a SC; a SC or Singapore Permanent Resident (PR) if applicant is a PR
The repayment terms are as follows:
- Repayment of the loan commences not later than 6 months after graduation or upon graduates securing employment, whichever is earlier.
- The minimum amount of repayment is S$100 per month and the maximum repayment periods are:
- Study loan (waiver of interest): 5 years from commencement of first repayment.
- Study loan (with interest payment): 20 years from commencement of first repayment.
- In the event that the borrower leaves the University without completing the programme, the loan outstanding will immediately become due and payable. The borrower may, however, repay the outstanding sum by monthly instalments on such terms and conditions as stipulated by the University.
For students under Tier 1 Study Loan scheme, interest is waived during the repayment period of 5 years. Interest will start accruing if repayment is made beyond the 5-year period.
For students under Tier 2 Study Loan scheme, interest will start accruing on the first (1st) day of the third (3rd) month following the borrower's graduation.
The interest on SL is accrued on a monthly basis and is computed based on the average prime rates of the three local banks, namely DBS, OCBC and UOB, prevailing on the first day of each quarter or such other rates as may be determined from time to time by the bank.
How to Apply
- Submit the online application form together with the required supporting documents to the University by the deadline as indicated in the table below.
- If your application is successful, you will be notified by the University within 7 working days of your TFL approval from DBS bank via email (note: only successful applicants will be notified).
- Upon receiving the email notification from the University, both you and your guarantor are required to sign the Study Loan Agreement at the University in person before the date indicated in the email notification.
- Upon signing the Study Loan Agreement, the University will notify you via email of the balance of the course fee amount payable by you, i.e., total course fee payable less your Tuition Fee Loan, Study Loan and any other loan taken to finance the tuition fees.
- The University will then update DBS on your successful Study Loan application and you should receive an annual statement from the bank for your reference.
Applications submitted without the complete set of supporting documents will be deemed as incomplete and will not be processed.
Study Loan Application Period
|Academic Year||Start Date of Application||Submission Deadline|
|Intake 2020||1 September||30 November|
- DBS Bank
Tel : +65 6333 0033
- Singapore University of Social Sciences
Tel: +65 6248 0188
Frequently Asked Questions (FAQs)
View FAQs on MOE Study Loan.