Higher Education Student Loan (HESL)
From 1 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 SL and OSPL applications from 17 May 2026, and 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 1 July 2026.
Eligible students may choose to take up:
1. Higher Education Student Loan (HESL) Base Provision (a non means‑tested loan component) on its own: to help pay for subsidised tuition fees, or
2. A combination of the Base Provision and additional Means‑tested Provision:
- Balance Fee Coverage : to help pay the remaining tuition fees (for Singapore Citizen students only)
- Living Allowance Loan : to meet education-related expenses
- Overseas Student Programme (OSP): financial support for Singapore Citizen students to participate in approved overseas programmes as part of their undergraduate studies in NTU
Existing students who have already taken up the TFL and/or SL 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 1 September 2026. If you are found suitable, you may apply for HESL from 1 September 2026.
Option:
- HESL Base Provision or
- HESL Base Provision + Mean-tested Provision
| Loan component | Programme type | Coverage | Income Criteria |
|---|---|---|---|
| HESL Base Provision | Undergraduate -Full time -Part Time Post Graduate By Coursework -Full Time Post Graduate by Research -Full time -Part Time | Up to 90% of subsidised SC tuition fees | Not required |
| Mean-Test Provision (Optional add-on) | |||
| Balance Fee Coverage | Undergraduate -Full time -Part time | Remaining 10% of subsidised tuition | *Gross monthly household per capita income (PCI) ≤ $3,500 |
| Living Allowance Loan | Undergraduate -Full time | Up to $4,100 per academic year | *Gross monthly household per capita income (PCI) ≤ $3,500 |
| Overseas Student Programme (OSP) | Undergraduate -Full time | Up to $12,000 to cover the cost of institution-approved overseas student programme. Students can only take up this loan once during course of undergraduate study. *Only applicable for student who has not taken up OSPL before for the same course of study | *Gross monthly household per capita income (PCI) ≤ $3,500 |
* Monthly PCI is computed based on the total monthly gross household income (GHI) divided by number of family members living in the same household as the student loan applicant.
Option:
- HESL Base Provision or
- HESL Base Provision + Mean-tested Provision
| Loan component | Programme type | Coverage | Income Criteria |
|---|---|---|---|
| HESL Base Provision | Undergraduate -Full time Post Graduate By Coursework -Full Time Post Graduate by Research -Full time -Part Time | Up to 65% of subsidised SPR tuition fees | Not required |
| Mean-Test Provision (Optional add-on) | |||
| Living Allowance Loan | Undergraduate -Full time | Up to $4,100 per academic year | *Gross monthly household per capita income (PCI) ≤ $3,500 |
* Monthly PCI is computed based on the total monthly gross household income (GHI) divided by number of family members living in the same household as the student loan applicant.
Option:
- HESL Base Provision or
- HESL Base Provision + Mean-tested Provision
| Loan component | Programme type | Coverage | Income Criteria |
|---|---|---|---|
| HESL Base Provision | Undergraduate -Full time Post Graduate By Coursework -Full Time Post Graduate by Research -Full time -Part Time | Up to 45% of subsidised IS tuition fees | Not required |
| Mean-Test Provision (Optional add-on) | |||
| Living Allowance Loan | Undergraduate -Full time | Up to $4,100 per academic year | *Gross monthly household per capita income (PCI) ≤ $1,875 |
*Monthly PCI is computed based on the total monthly gross household income (GHI) divided by number of family members living in the same household as the student loan applicant.
| HESL to take effect from | Application Period |
| AY2026/2027 Semester 1 | From 1 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 and Study Loan for their current course of study can apply via StudentLoanSG (SLSG) Portal (https://go.gov.sg/slsg) using Singpass from 1 July 2026, 10am.
Before considering taking up HESL, students should first consider other financing options, such as government bursary, post-secondary education account (PSEA) fund, institution-based financial aid schemes. Student can reach out to our financial aid team via Ask Finaid (Current Student) for guidance and assessment. More information on other financial aid schemes can be found here.
A guarantor for HESL must meet the following criteria at the point of loan application:
Age: Between 21 and 60 years old.
- Financial Standing: Must not be an undischarged bankrupt.
- Citizenship: Must fulfill the following requirements based on the student's status
| Student Status | Required Guarantor Status |
|---|---|
| Singapore Citizen | Singapore Citizen |
| Singapore Permanent Resident | Singapore Citizen or Singapore Permanent Resident |
| International Student | Singapore Citizen or Singapore Permanent Resident or Foreigner |
- 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.
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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. eservices.mas.gov.sg/statistics/dir/DomesticInterestRates.aspx