MOE Study Loan

The information below belongs to existing students under MOE Study Loan. If you wish to apply for new/ additional loan, please refer to the HESL details here.

For Full-Time Programme

The MOE Study Loan is meant for both local and international NTU undergraduates* who require assistance to finance part of their tuition fees and/or living expenses.

*Note:

  1. Students will only be covered under the scheme for the first 3 years of the Biomedical Sciences & Chinese Medicine programme.
  2. International students paying non-subsidised tuition fees are not eligible to apply for financial aid schemes.
  3. The MOE Study Loan is not a guaranteed loan and will be awarded only to those who meet the eligibility criteria.

For students who are using a combination of subsidies and/or loans to settle their subsidised tuition fees, the disbursement sequence is as follows:

  1. Scholarship / Sponsorship
  2. Mendaki Tertiary Tuition Fee Subsidy (MTTFS)
  3. SkillsFuture Credit
  4. Bursary (Tuition Fee Offset) i.e. HECB/HEB - For Medicine Student
  5. Post Secondary Education Account (PSEA) Scheme
  6. CPF Education Loan Scheme
  7. Higher Education Student Loan (HESL) / MOE Tuition Fee Loan
  8. MOE Study Loan
  9. Other Bursaries (Living Allowance)

Financial assistance funds are applied first to outstanding tuition fees. Any remaining balance for living allowances will be disbursed after tuition fees are fully cleared.

Interest

  • Interest free during studies.
  • 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.
  • For international students, the loan is interest bearing after graduation regardless of PCI.
  • The following interest rates will be applicable to all new Government education loan (i.e. MOE Tuition Fee Loan, MOE Study Loan, Overseas Student Programme Loan) agreements signed on and after 1 April 2024.
Standard interest* 3-month compounded Singapore Overnight Rate Average (3M SORA) 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

* not applicable to interest-free Study Loan

The interest rates will be revised on a half-yearly basis based on the 3M SORA1 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)3.  You can visit Development Bank of Singapore (DBS Bank) website for the applicable interest rates on every 1 April and 1 October.

 

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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.
3 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. 
 

Commences 6 months after graduation or securing employment, whichever is earlier.

Repayment of loan can be in one lump sum or by equal monthly instalments of minimum S$100.

  • Up to 5 years (if loan is interest waived) or
  • Up to 20 years (if loan is interest bearing).
  • Development Bank of Singapore (DBS Bank)
    Tel: 6333 0033
  • Overseas-Chinese Banking Corporation (OCBC Bank)
    Tel: 1800 363 3333 (within Singapore) / +65-6363 3333 (outside Singapore)

For Part-Time Programme

The MOE Study Loan (PT) is open to Singaporean part-time undergraduates who require assistance to finance their tuition fee.

 

  • Interest free during studies.
  • Loan is interest-free up to 5 years after graduation if PCI <= S$950. Otherwise, the loan will be interest bearing after graduation.
  • The following interest rates will be applicable to all new Government education loan (i.e. MOE Tuition Fee Loan, MOE Study Loan, Overseas Student Programme Loan) agreements signed on and after 1 April 2024.
    Standard interest* 3-month compounded Singapore Overnight Rate Average (3M SORA) 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

    * not applicable to interest-free Study Loan

    The interest rates will be revised on a half-yearly basis based on the 3M SORA1 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)3.  You can visit Development Bank of Singapore (DBS Bank) website for the applicable interest rates on every 1 April and 1 October.

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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 https://eservices.mas.gov.sg/statistics/dir/DomesticInterestRates.aspx
3 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. 

Commences 6 months after graduation or securing employment, whichever is earlier.

Repayment of loan can be in one lump sum or by equal monthly instalments of minimum S$100.

  • Up to 5 years (if loan is interest waived) or
  • Up to 20 years (if loan is interest bearing).
  • Development Bank of Singapore (DBS Bank)
    Tel : 6333 0033
  • Overseas-Chinese Banking Corporation (OCBC Bank)
    Tel: 1800-4383-333 (within Singapore) / +65-4383-333 (outside Singapore)