Last Updated: 25 January 2024
Study Loan
Students who have taken up maximum of the Tuition Fee Loan, and with gross monthly per capita income of $2,700 or less, can apply for the Study Loan to finance the remaining tuition fees and take up a living allowance loan. Learn about the eligibility criteria and how to apply.
Who is eligible
Diploma students who:
- Are Singapore Citizens or Singapore Permanent Residents taking full-time subsidised diploma courses at local polytechnics.
- Have taken up maximum loan under the Tuition Fee Loan scheme, or other loans and fee subsidies that cover up to 75% of subsidised tuition fees payable.
- Have a gross monthly per capita income of $2,700 or less.
Undergraduate students who:
- Are Singapore Citizens (SC), Singapore Permanent Residents (PR), or international students taking full-time subsidised undergraduate courses, or SCs taking part-time subsidised undergraduate courses.
- Have taken up maximum loan under the Tuition Fee Loan scheme, or other loans and fee subsidies that cover up to 90% of subsidised SC tuition fees payable.
- Have a gross monthly per capita income of $2,700 or less for SCs and PRs, or $1,200 or less for international students.
How it works
The Study Loan covers:
- Up to 25% of subsidised tuition fees payable and a living allowance loan of $2,000 per year for polytechnic students.
- Up to 10% of the subsidised Singapore Citizen tuition fees payable and a living allowance loan of $3,600 per year for university students.
The loan is tenable for the entire course duration.
- For SC and PR students with monthly household per capita income of $950 or less, the loan is interest-free.
- For students with monthly household per capita income between $951 and $2,700, the loan is interest-free during the course of study, with interest only commencing upon graduation or leaving the institution.
For interest-bearing study loans, the maximum loan repayment period is up to 5 years for loans taken at polytechnic level, and up to 20 years for loans taken at the university level. For interest-free study loans, the maximum loan repayment period is up to 2 years for loans taken at polytechnic level, and up to 5 years for loans taken at the university level.
How to apply
Students can approach the respective institutions for application.