FAQ - NTU Study Loan

1. Who may apply for the Study Loan (SL)?

Full-time undergraduates who have taken or are taking up one or more of the following schemes: Tuition Fee Loan and/or CPF Education Scheme and/or Mendaki Tertiary Tuition Fee Subsidy/Loan.

Scholarship recipients who are interested in taking up this loan to finance part of their fees and/or their living expenses may drop an email to finaid@ntu.edu.sg for consideration.

The above loans/subsidies must cover at least 90% of the subsidised tuition fees paid by a Singaporean student.

For a Singaporean student, the above loan/subsidies may cover 80% of the subsidised tuition fees paid by a Singapore student on condition that his monthly household Per Capita Income (PCI) is assessed to be $950 or less.

For Singaporean and Singapore Permanent Residents, the monthly household Per Capita Income (PCI) must be ≤S$2,700.  For international students, the monthly Per Capita household Income (PCI) must be ≤S$1,200.

2. May I just apply for the Study Loan without taking up the other loans?

No, you cannot apply for this loan if you are not interested in taking up any of the loans covered in point 1 above.

3. How much can I borrow?

This loan is a 2-in-1 loan comprising a fee loan component and living allowance loan component.

For all full-time undergraduates, the loan finances up to 10% of the subsidized tuition fees payable by Singaporeans.

On top of the fee loan component, you may borrow a living allowance loan of up to $3,600 per academic year. 

​4. Do I need to apply for the Study Loan yearly?

You need only apply once for this loan to cover you for the remaining duration of your programme at NTU.

5. Who will notify me of the application outcome?

The outcome of your SL application will be informed via your NTU Student Email Account. Successful applicants are required to accept the offer online and sign the loan agreement with your guarantor at the premises of the NTU NSS-Finance office.

​6. When will the loan be disbursed?

The loan will only be disbursed once you have accepted the loan offer and signed the loan agreement with your guarantor.            

After you have accepted the loan offer online, NTU NSS-Finance office will contact you to arrange for you and your guarantor to sign the loan agreement at their office in NTU.            

You may arrange with the NSS-Finance office for alternative dates to sign the loan agreement for yourself and your guarantor.            

You may also arrange with the NSS-Finance office for your guarantor to sign the loan agreement in his home country if he does not reside in Singapore. 

​7. When does the interest commence for the Study Loan?

The loan is interest free during study, with interest and repayments (instalments) commencing upon graduation.

As a guide, if you graduate in June, the norm is for interest to commence in August.  The bank will inform you of the interest start date.

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.

 

Share Article