MOE Tuition Fee Loan

All applicants (Singapore, SPR or International) pursuing their undergraduate degree* are eligible for the loan regardless of family income.

*Note:

1. Students taking Biomedical Sciences & Traditional Chinese Medicine programmes will only be covered under the scheme for the first 3 years of the programme.
2. International students paying non-subsidised tuition fees are not eligible to apply for financial aid schemes.

Quantum

The Tuition Fee Loan covers up to 90% of subsidised tuition fee payable by Singaporeans for a similar programme. It does not cover compulsory miscellaneous fees and hostel fee.

Note: For SPR and international students who take up both the Tuition Fee Loan and Study Loan, you will only receive a total loan amount equivalent to the subsidised tuition fees payable by Singaporeans for a similar programme of study. As the subsidised tuition fees for SPR and international students are higher than the fees for Singaporean students, the loans will not cover your tuition fees in full.

Disbursement of funds
For students who are using a combination of loans &/or subsidies to settle their MOE subsidised tuition fees, the disbursement sequence is as follows:

1. Mendaki Tertiary Tuition fee Subsidies (MTTFS) where applicable
2. PSEA funds where applicable
3. CPF funds under the CPF Education Loan Scheme where applicable
4. Tuition Fee Loan (TFL) where applicable
5. Study Loan (SL) where applicable
6. Bursary where applicable
7. GIRO deduction from students' own account/other account (for those with a GIRO arrangement with NTU to pay their semestral tuition & compulsory miscellaneous fees)

The total disbursements shall not exceed the amount of tuition, compulsory miscellaneous and late fees payable.

Administration of Loan
The University has appointed Development Bank of Singapore (DBS Bank) and Oversea-Chinese Banking Corporation (OCBC Bank) as agents to administer the Tuition Fee Loan Scheme.

Guarantor

1. One guarantor aged 21 to 60 years (based on the guarantor's age at the point of application), and not an un-discharged bankrupt.
2. There is no income qualification.
3. A loan applicant who is a:

• Singaporean student to provide a Singaporean guarantor.
• Singapore Permanent Resident student to provide a Singaporean/Singapore Permanent Resident guarantor.
• International students to provide a guarantor of any nationality.

4. A person is discouraged from standing in for more than 2 loans in view of the financial implications.

Interest

• Interest free during studies.
• Interest will commence upon graduation.
• 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 SORA 1 published on the Monetary Authority of Singapore’s (MAS) website 2 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 Development Bank of Singapore (DBS Bank) or Oversea-Chinese Banking Corporation (OCBC Bank) website for the applicable interest rates on every 1 April and 1 October.


Repayment


• Repayment of loan can be in one lump sum or by equal monthly instalments commencing not later than two years from the date that interest is first chargeable on the loan.
• The minimum amount of repayment is S$100 per month and the maximum repayment period is 20 years.
• In the event that the student leaves the University without completing the programme of study, the loan outstanding will immediately become due and payable. He may, however, repay the outstanding sum by monthly instalments on such terms and conditions as the University may allow depending on the circumstances of each case.

How to apply

Students and their guarantors can apply for Tuition Fee Loan with DBS or OCBC.
You need only apply once for this loan to cover you for the duration of your programme at NTU.

Application via OCBC
To complete the TFL Form and visit any OCBC Branch together with your guarantor during the application period listed below.

For student submitting TFL Loan Application at NTU OCBC Frank Store, the operating hours as follows:

• Monday to Friday 9am to 2pm

Click here for Application Flow.

Application via DBS
Student will be able to submit Tuition Fee Loan Digital Application online.

The Tuition Fee Loan Digital Application is only applicable for guarantor who is a Singapore Citizen/Permanent Resident/Foreigner (pass-holder residing or working in Singapore). Hardcopy Tuition Fee Loan application forms will no longer be accepted at all DBS Banks.

If the guarantor (foreigner) is neither residing nor working in Singapore, you will not be able to apply digitally (only hardcopy application form is available). Please refer to the guide for more information on how to apply for your Tuition Fee Loan. The application form can be downloaded here.


To submit your Tuition Fee Loan Digital Application online, please click here.

TFL to take effect from:	Application Period
Semester 1 AY2024/2025	Up to 15 August 2024

16 August 2024 to 31 December 2024 (late application period^)

16 January 2025 to 31 July 2025 (late application period^)

^For late applications, the loan may not be disbursed in time to be reflected in your e-bill and to finance your tuition fees by payment due date. For overdue payments, a late payment fee is charged.

Further Enquiries

• Financial Aid
  Ask Finaid
• Development Bank of Singapore (DBS Bank)
  Tel: 6333 0033
• Overseas-Chinese Banking Corporation (OCBC Bank)
  Tel: 1800 363 3333 (within Singapore) / +65-6363 3333 (outside Singapore)

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.

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.

For Part-Time Programme

​​Who is eligible?

• Open to Singaporean part-time students pursuing their first undergraduate degree.
• Choose to pursue a part-time programme due to financial reasons.


Quantum
The Tuition Fee Loan covers up to 90% of the subsidised tuition fee payable. It does not cover compulsory miscellaneous fees and hostel fee.

Administration of Loan
The University has appointed Development Bank of Singapore (DBS Bank) and Oversea-Chinese Banking Corporation (OCBC Bank) as agents to administer the Tuition Fee Loan Scheme.

Guarantor

• One Singaporean guarantor aged 21 to 60 years (based on the guarantor's age at the point of application), and not an un-discharged bankrupt.
• There is no income qualification.
• A person is discouraged from standing in for more than 2 loans in view of the financial implications.


Interest

• Interest free during studies.
• Interest commence upon graduation.
• 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 SORA 1 published on the Monetary Authority of Singapore’s (MAS) website 2 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 Development Bank of Singapore (DBS Bank) or Oversea-Chinese Banking Corporation (OCBC Bank) website for the applicable interest rates on every 1 April and 1 October.


Repayment


• Repayment of loan can be in one lump sum or by equal monthly instalments commencing not later than two years from the date that interest is first chargeable on the loan or upon securing employment whichever is earlier.
• The minimum amount of repayment is S$100 per month and the maximum repayment period is 20 years.
• In the event that the student leaves the University without completing the programme of study, the loan outstanding will immediately become due and payable. He may, however, repay the outstanding sum by monthly instalments on such terms and conditions as the University may allow depending on the circumstances of each case.


How to apply
Students and their guarantors can apply for Tuition Fee Loan with DBS or OCBC.
You need only apply once for this loan to cover you for the duration of your programme at NTU.

Application via OCBC
To complete the TFL (PT) Form and visit any OCBC Branch together with your guarantor during the application period listed below.

For student submitting TFL (PT) Loan Application at NTU OCBC Frank Store, the operating hours as follows:

• NTU OCBC Frank Store: Monday to Friday 9am to 2pm

Click here for Application Flow.

Application via DBS
Student will be able to submit Tuition Fee Loan Digital Application online.

The Tuition Fee Loan Digital Application is only applicable for guarantor who is a Singapore Citizen. Hardcopy Tuition Fee Loan application forms will no longer be accepted at all DBS Banks.


To submit your Tuition Fee Loan Digital Application online, please click here.

Application period:

TFL to take effect from:

Application Period

Application via OCBC
Up to 15 August 2023

Application via DBS
19 June 2023 - 15 August 2023

Up to 15 August 2024

16 August 2024 to 31 December 2024 (late application period^)

^For late applications, the loan may not be disbursed in time to be reflected in your e-bill and to finance your tuition fees by payment due date. For overdue payments, a late payment fee is charged.

Further Enquiries

• Financial Aid
  Ask Finaid
• Development Bank of Singapore (DBS Bank)
  Tel : 6333 0033
• Overseas-Chinese Banking Corporation (OCBC Bank)
  Tel: 1800-4383-333 (within Singapore) / +65-4383-333 (outside Singapore)

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.

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.