Student Loan (Laptop)
It is an interest free Student Loan to assist full-time NTU undergraduates should they require the funds for purchase of a laptop/desktop during the programme of study.
Who is eligible
- Loan application is subject to approval and availability of loan funds.
- Open to full-time undergraduates whose monthly household Per Capita Income (PCI) is less than or equal to S$2,500 or Gross Household Income (GHI) is less than or equal to S$10,000.
- SPR/International undergraduates paying non-subsidized tuition fees are not eligible to apply.
- Limited to one Student Loan during his/her programme of study at the University.
PCI = | Gross income of family members in household ----------------------------------------------------------------------- Total number of family members in household |
Gross income refers to amount before deduction of CPF. It includes allowances, overtime, commissions etc.
Quantum
S$2,000.
The loan may be used to purchase any model of PC and at any retail outlet.
Guarantor requirements
- One guarantor aged 21 to 60 years (based on the guarantor's age at the point of application), and not an un-discharged bankrupt.
- A loan applicant who is a:
- Singaporean student to provide a Singaporean guarantor.
- Singapore Permanent Resident and International students to provide a Singaporean/Singapore Permanent Resident guarantor.
- The guarantor must be gainfully employed.
- A student of Nanyang Technological University who satisfies (1) and (2) may also act as a guarantor. However, a student who is holding Tuition Fee Loan/ loan from CPF Education Loan Scheme or any other form of loan should not stand as guarantor.
- If the application for the Student Loan is successful, the applicant and guarantor have to be both present at NTU to sign the loan agreement.
- A person is discouraged from standing in for more than 2 loans in view of the financial implications.
Interest
Interest Free.
Repayment
Commences 3 months upon graduation over a period of 3 years.
How to apply
Send your request to apply for Student Loan for laptop purchase via Ask FinAid and we will send you the link for application.