HSS-Peking University (PKU)
This scheme is designed to help HSS undergraduates from Division of Chinese to defray their overseas expenditure when they go for their overseas student programme in Chinese Studies at Peking University (PKU).
Eligibility
OSP Loan |
|
Quantum
Scheme | Country Of Study / Attachment | Max Aid Applicable | ||
---|---|---|---|---|
Singaporean | Singapore PR | International | ||
OSP Loan | Beijing, China | S$9,000 | S$3,000 |
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
OSP Loan |
|
How to apply
- You need not wait for your overseas programme outcome before applying.
If you are offered the OSP loan, you have the choice to decline the OSP loan offer.
- 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, email Ask Finaid.
- You will be informed of your financial aid application outcome 4 weeks after the closing date.
- For students who applied and are offered the OSP Loan:
• 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 when your overseas programme placement is confirmed.
Application period
- Application is currently closed.
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