Higher Education Student Loan (HESL)
From 29 July 2026, the new Higher Education Student Loan (HESL) Scheme will be implemented to support students who require financial assistance to pursue MOE‑subsidised undergraduate and postgraduate programmes at Nanyang Technological University (NTU). The HESL consolidates and replaces the existing Tuition Fee Loan (TFL), Study Loan (SL) and Overseas Student Programme Loan (OSPL) into a single streamlined government loan scheme.
NTU will stop accepting new TFL applications from 31 May 2026. Students who wish to apply for a loan after the cut off dates can apply for the HESL from 29 July 2026.
Eligible post-graduate students may choose to take up Higher Education Student Loan (HESL) Base Provision (a non means‑tested loan component) on its own to help pay for subsidised tuition fees. Existing students who have already taken up the TFL will continue under their existing loan arrangements, and no action is required. If new or additional loan support under HESL is required, students may approach NTU via Ask Finaid (Current Student) for advice and assessment of needs from 15 September 2026. If you are found suitable, you may apply for HESL from 15 September 2026.
Existing students who have already taken up the TFL will continue under their existing loan arrangements, and no action is required. If new or additional loan support under HESL is required, students may approach NTU via Ask Finaid (Current Student) for advice and assessment of needs from 15 September 2026.
Graduate students enrolled in Research Programmes or full-time MOE subsidised Coursework Programmes are eligible to apply for HESL.
| Component | Programme type | Eligibility | Loan provision |
|---|---|---|---|
| HESL Base Provision | Post Graduate By Coursework -Full Time Post Graduate by Research -Full time -Part Time | Singapore Citizen (SC) | Up to 90% of subsidised SC tuition fees |
| Singapore Permanent Resident (SPR) | Up to 65% of subsidised SPR tuition fees | ||
| International Student (IS) (with Service Obligation or paying MOE subsidised fee) | Up to 45% of subsidised IS tuition fee |
| HESL to take effect from | Application Period |
|---|---|
| AY2026/2027 Semester 1 | From 29 July 2026 at 10:00am |
Newly matriculated students in Academic Year (AY) 2026 intake and existing students (before AY2026 intake) who do not have Tuition Fee Loan for their current course of study can apply via StudentLoanSG (SLSG) Portal using Singpass from 29 July 2026, 10am.
Before considering taking up HESL, students should first consider other financing options, such as post-secondary education account (PSEA) fund and SkillsFuture Credit or institution-based financial aid schemes. Student can reach out to our financial aid team via Ask Finaid (Current Student) for guidance and assessment.
A guarantor must be between 21 and 60 years of age (based on the guarantor’s age at the point of loan application), meet the citizenship status criteria and is not an undischarged bankrupt.
- Interest-free during the course of study, with interest commencing only upon a student’s graduation or leaving NTU.
- Minimum repayment amount: $100 per month
- Maximum repayment period: 10 years
- Interest rate: 3-month compounded Singapore Overnight Rate Average (3M SORA)1
., plus 1.5 percentage points or such other rates as may be determined from time to time by the bank. - Late payment interest for overdue and unpaid loans/loan instalment: 3M SORA plus 4.5 percentage points or such other rates as may be determined from time to time by the bank.
- The interest rates are revised on a half-yearly basis based on the 3M SORA published on the Monetary Authority of Singapore’s (MAS) website2 on 1 March (for the period 1 April to 30 September) or 1 September (for the period 1 October to 31 March of the following calendar year. If 1 March or 1 September falls on a weekend and/or a public holiday when the 3M SORA rates are not published by MAS, we will take the 3M SORA published on the MAS website on the last preceding business day in Singapore. For example, if 1 September is a Saturday, we will take the 3M SORA published on MAS website on 31 August.You may refer to the website of the agent bank (DBS or OCBC) administering the loan scheme for NTU for the prevailing interest rate.
1. SORA is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8am and 6.15pm. The 3-month compounded SORA is the rolling compounded average of daily SORA over the past respective period.
2. eservices.mas.gov.sg/statistics/dir/DomesticInterestRates.aspx