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 (SUSS) has appointed DBS Bank Ltd as the agent to administer the SL Scheme.
Subsidised Singapore Citizen (SC) and Singapore Permanent Resident (PR) students and International Students (IS) studying full-time in the MOE-subsidised undergraduate degree programmes in SUSS are eligible to apply for the SL.
Full-time undergraduates 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% or 90% (refer to table below) 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 subsidised fees payable by the student.
Full-time undergraduates 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.
SUSS 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)|
|Nationality||SC & PR||SC & PR||IS|
|Income Criteria||Gross Monthly Household per capita Income* ≤ S$950||Gross Monthly Household per capita Income* > $950 and ≤ $2,700||Gross Monthly Household per capita Income* ≤ $1,200|
|Maximum Quantum of Loan||Maximum of 20% of subsidised tuition fees payable by SC plus annual living allowance loan of $3,600||Maximum of 10% of subsidised tuition fees payable by SC plus annual living allowance loan of $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. The criteria for the guarantor for the SL are as follow:
- One guarantor above 21 years but not exceeding 60 years;
- No income qualification will be stipulated;
- SC guarantor will be accepted for a SC applicant;
- SC or PR guarantor can be accepted for a PR applicant; and
- SC, PR or foreigner can be accepted for foreign applicants.
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 SUSS
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
- To apply, please do it online before the stipulated deadline.
- If your application is successful, you will be notified by SUSS 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 SUSS, both you and your guarantor are required to sign the Study Loan Agreement at SUSS in person before the date indicated in the email notification.
- Upon signing the Study Loan Agreement, SUSS 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 subsidised tuition fees.
- SUSS will then update DBS on your successful Study Loan application and you should receive an annual statement from the bank for your reference.
Study Loan Application Period
|Academic Year||Start Date of Application||Submission Deadline|
|Intake 2019 - 2020||1 June||15 July|
- 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.