Higher Education Student Loan (HESL)
The new Higher Education Student Loan (HESL) Scheme is 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.
Eligible students may apply for:
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
Note:
Before applying for the HESL, we highly encourage you to explore other financing options first, such as Government Bursary, Post-Secondary Education Account (PSEA), etc.
View all other financial aid schemes on our NTU Financial Aid Website
For guidance and assessment, student can reach out to our Financial Aid team via Ask Finaid (Current Student)
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 fees | *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.
For NTU full-time undergraduates who need financial assistance to fund their overseas study/exchange/attachment programmes.
Please refer to the Quantum of your overseas exchange programme below:
| Programme | Country / Region of Study / Attachment | Max Aid Applicable (SC) |
|---|---|---|
| GEM Discoverer | Asia | $5,000 |
| Europe | $10,000 | |
| Middle East | $10,000 | |
| Oceania | $10,000 | |
| USA | $10,000 | |
| GEM Explorer | Asia | $6,000 |
| Europe | $12,000 | |
| Oceania | $8,000 | |
| USA | $12,000 | |
| NTU Entrepreneurship (NTUpreneur) | China (1 Semester Programme) | $5,000 |
| China (1 Year Programme) | $10,000 | |
| Europe (1 Semester Programme) | $6,000 | |
| Europe (1 Year Programme) | $12,000 | |
| USA (1 Semester Programme) | $12,000 | |
| USA (1 Year Programme) | $12,000 | |
| SBS Biomedical Sciences - BUCM | Beijing, China | $12,000 |
| SBS - CBS | Europe | $12,000 |
| CAO Overseas Internship/Exposure | Asia / Africa / Oceania (20-30 weeks) | $7,000 |
| Asia / Africa / Oceania (10-12 weeks) | $3,500 | |
| China / India / Southeast Asia (20-30 weeks) | $7,000 | |
| China / India / Southeast Asia (10-12 weeks) | $3,500 | |
| North Americas / Europe / Japan (20-30 weeks) | $12,000 | |
| North Americas / Europe / Japan (10-12 weeks) | $7,000 | |
| HSS-Peking University (PKU) | Beijing, China | $9,000 |
Please note: Students of other nationalities requiring financial assistance for their overseas study programme may reach out to Ask Finaid (Current Student) for guidance.
| Category | Application Details |
|
|
| Contact us through AskFinAid if you wish to apply |
Please apply early to meet your fee payment deadline(s).
For application processing time, please refer to SLSG portal here.
Note: If you are currently taking MOE Tuition Fee Loan (TFL) or MOE Study Loan (SL) and you do not intend to adjust your borrowings, you can continue to receive the loan provision based on what you have taken up earlier. You are not required to apply for HESL.
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's Residency | Required Guarantor's Residency |
|---|---|
| Singapore Citizen | Singapore Citizen |
| Singapore Permanent Resident | Singapore Citizen or Singapore Permanent Resident |
| International Student | Singapore Citizen or Singapore Permanent Resident or Foreigner* |
International Student Application (Foreign Guarantor): If the proposed guarantor resides outside Singapore, they must download the approved loan documents and have their identity verified by a notary public, a Singapore Embassy, or a local bank branch in their home country. The guarantor must then mail the notarized application to the international student, who will submit it in person to the bank in Singapore.
For students who are using a combination of subsidies and/or loans to settle their subsidised tuition fees, the disbursement sequence is as follows:
- Scholarship / Sponsorship
- Mendaki Tertiary Tuition Fee Subsidy (MTTFS)
- SkillsFuture Credit
- Bursary (Tuition Fee Offset) i.e. HECB/HEB - For Medicine Student
- Post Secondary Education Account (PSEA) Scheme
- CPF Education Loan Scheme
- Higher Education Student Loan (HESL) / MOE Tuition Fee Loan
- MOE Study Loan
- 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-free during the course of study, with interest commencing only upon a student’s graduation or leaving NTU. Upon graduation, you can opt to repay the HESL account either by a full lump-sum payment, partial payment or monthly instalments.
- 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 (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.
-----------------------------------------------------------------------------------------------------------------------------------------