SBS - CBS
This scheme is designed to help students to defray their overseas expenditure.
Eligibility
OSP Loan |
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Quantum
Scheme | Country Of Study / Attachment | Max Aid Applicable | ||
---|---|---|---|---|
Singaporean | Singapore PR | International | ||
OSP Loan | Europe | S$12,000 | 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
- Interest-free during course of study.
- Interest will commence upon graduation. Interest rate will be based on average prime lending rate of the 3 local banks (DBS, OCBC & UOB).
Repayment
OSP Loan |
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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 StudentLink during the financial aid application period
• For NTU students, please login to StudentLink 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 StudentLink.
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 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, NSS-Finance Office will contact you to arrange for both yourself and your guarantor to visit their office to sign the Loan Agreement.
• 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. The office in charge of your overseas programme will update NSS-Finance Office once your overseas placement is confirmed.
Application period
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