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GEM Explorer (Study / Research)
These schemes are designed to help students to defray their overseas expenditure.
Eligibility
Travel Awards
Ng Bok Eng Scholarship |
|
MENDAKI-NTU Overseas Fund |
|
OSP Loan
| OSP Loan |
|
Quantum
Travel Awards
| Travel Awards | Country Of Study / Attachment | Max Aid Applicable | ||
|---|---|---|---|---|
| Singaporean | Singapore PR | International | ||
Ng Bok Eng Scholarship | All countries | S$3,000 | NA | |
MENDAKI-NTU Overseas Fund | All countries | S$3,000 | S$3,000 | NA |
OSP Loan
| Scheme | Country Of Study / Attachment | Max Aid Applicable | ||
|---|---|---|---|---|
| Singaporean | Singapore PR | International | ||
OSP Loan | Asia | S$6,000 | S$3,000 | |
| Europe | S$12,000 | |||
| Oceania | $8,000 | |||
| USA | S$16,000 | |||
Please note that if you are applying for both the loan and travel award, the maximum amount offered (which may be a combination of loan and travel award) will not exceed the maximum aid amount as shown in the loan table above.
For OSP Loan applicants
Guarantor Requirements
- One guarantor aged 21 to 60 years (based on the guarantor's age at the point of application), and not an un-discharged bankrupt.
- A loan applicant who is a:
- Singaporean student to provide a Singaporean guarantor
- Singapore Permanent Resident and International students to provide a Singaporean/Singapore Permanent Resident guarantor
- The guarantor must be gainfully employed.
- A student of Nanyang Technological University who satisfies (1) and (2) may also act as a guarantor. However, a student who is in the process of applying or holding Tuition Fee Loan / loan from CPF Education Loan Scheme or any other form of loan should not stand as a guarantor.
- If the application for OSP loan is successful, the applicant and the guarantor have to be both present at NTU to sign the Loan Agreement.
- A person is discouraged from standing in for more than 2 loans in view of the financial implications.
Interest
1. Interest-free during course of study.
2. Interest will commence upon graduation.
3. 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 OCBC Bank website for the applicable interest rates on every 1 April and 1 October.
Repayment
| Travel Awards | No repayment required. |
| OSP Loan |
|
How to apply
- You need not wait for your overseas programme outcome before applying.
For students who are not successful in your overseas programme, we will not offer you any Travel Awards/OSP Loan. For students who are successful for the overseas programme and are offered the OSP Loan, you have the choice to decline the OSP Loan offer.
- For students who applied for the Travel Awards, a limited number of travel awards are available and therefore not all applicants will be successful. Students are strongly encouraged to apply for the OSP Loan if they have not applied for
the loan before.
- Apply online through Student Intranet during the financial aid application period
• For NTU students, please login to Student Intranet for application.
• For NIE students, please login to NIE StudentLink for application. - Upload application form and supporting documents (compiled into one PDF file) via the upload portal at Student Intranet.
Note: You will only be allowed to upload your documents once. For assistance on documents upload, please submit your queries through Ask Finaid.
- You will be informed of your financial aid application outcome after the closing date as per schedule indicated below.
- For students who applied and are awarded the Travel Award:
• A Travel Award offer will be sent to your NTU email account.
• NSS-Finance Office will credit the funds into your bank account (details to be provided in the email offer) within 4 weeks from the travel award email offer. - For students who applied and are not successful for the Travel Award:
• The outcome of your application will be sent to your NTU email account.
• If you have not applied for an OSP loan before and would like to apply for a loan, please contact Ask Finaid for assistance. - For students who applied and are offered the OSP Loan with or without the Travel Award:
• A loan offer will be sent to your NTU email account. You are required to click on the link provided in the email to indicate acceptance.
• Within 2 weeks of your loan acceptance, you will receive the appointment booking link from ServiceNow@NTU. You are required to select the suitable date and time for you and your guarantor to sign the loan agreement at One-Stop@SAC.
• After the Loan Agreement has been signed, NSS-Finance Office will release the loan amount (in one lump sum) to you.
Application period
| Academic Year/Semester | Financial Aid Scheme Available | Application Period | Release Of Application Outcome |
|---|---|---|---|
AY2024/2025 Semester 1 (There is only 1 Round of financial aid application period)
| Ng Bok Eng Scholarship MENDAKI-NTU Overseas Fund OSP Loan |
1 February 2024 - 31 March 2024
|
26 April 2024 - 30 April 2024
|
AY2024/2025 Semester 2 (There is only 1 Round of financial aid application period) | Ng Bok Eng Scholarship MENDAKI-NTU Overseas Fund OSP Loan | 1 September 2024 - 30 September 2024 | 21 October 2024 - 25 October 2024 |
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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.