7. I used my parent's CPF to finance up to 100% of my tuition fee. Why do I still have outstanding balance with the school?
The outstanding fees may be due to the following:-
i) Compulsory miscellaneous fees
Students are required to pay tuition fees and compulsory miscellaneous fees each semester. As CPF funds can only be used to finance up to 100% of the MOE Subsidized tuition fees, there will hence be outstanding miscellaneous fees if you did not arrange for payment using other resources (i.e. PSEA, Study Loan, cash/GIRO).
ii) Exceeded Available Withdrawal Limit
Members can use their Ordinary Account (OA) savings up to the Available Withdrawal Limit under the Education Scheme to finance up to 100% of the MOE Subsidized tuition fees.
The Available Withdrawal Limit is either 40% of the member's accumulated OA savings, or remaining OA balance, whichever is lower. If there are insufficient savings in the OA for withdrawal to pay for your tuition fees, your tuition fees will hence become outstanding.
You may have to make alternative arrangement to pay your outstanding tuition fees in cash, or consider other financing options such as the Tuition Fee Loan or Post-Secondary Education Account (PSEA) savings.
iii) Tuition fees not subsidized by MOE
CPF Education Funds can only be used to finance MOE subsidized tuition fees.
If you have exceeded the normal programme duration and your tuition fees are not subsidized by MOE, CPF funds cannot be withdrawn to pay for tuition fees that are not subsidized by MOE.