Overseas Student Programme (OSP) loan is offered to all NUS students who are successful applicants of NUS approved overseas programmes. The loan is for helping students cover all expenses incurred during the course of overseas stint.
Eligibility Criteria:
- The student must be pursuing an undergraduate course and has obtained NUS’ approval to participate in a university-approved OSP;
- The student must be a Singapore Citizen;
- Each student is entitled to receive the OSP loan only once during his or her course of study. If the student has received an OSP loan before, he or she may apply for other forms of financial assistance provided by NUS; and
- The student must not concurrently hold another loan, award, bursary or scholarship that covers the full costs of the OSP.
- A guarantor is required. The guarantor must be Singapore citizen at least 21 years of age and shall not exceed 60 years of age.
Loan Quantum
OCBC is the agency for this loan. Students can apply for up to maximum of loan quantum (refer to table 1.0 for loan quantum). The loan amount should be sufficient to cover all the following expenses:
- Accommodation expenses
- Living expenses (food, transport, personal expenses, etc)
- Airfare
- Books and supplies
- Medical health/ insurance
- Immigration/administration fee
For unutilized loan amounts, students may choose to return them to the bank as part of the loan settlement.
List of Overseas Programmes |
Min Loan |
Max Loan |
SEP |
$ 3,000 |
$ 10,000 |
NOC |
$ - |
$ - |
Internship |
$ 2,000 |
$ 5,000 |
Summer Programme |
$ 2,000 |
$ 5,000 |
Clinical Attachment |
$ 2,000 |
$ 5,000 |
Competition/Conf/Moots |
$ 2,000 |
$ 5,000 |
Community Project |
$ 2,000 |
$ 5,000 |
Field Trips |
$ 2,000 |
$ 5,000 |
Study Visits |
$ 2,000 |
$ 5,000 |
Immersion |
$ 2,000 |
$ 5,000 |
Research |
$ 2,000 |
$ 5,000 |
JD/DDP |
$ 3,000 |
$ 10,000 |
Table 1.0
Repayment:
The maximum repayment period is 5 years. Interest computation is deferred until after graduation. Thereafter, average prime rate of OCBC applies. Repayment can be in one lump sum or in fixed equal monthly installments (minimum of $100 per month), commencing not later than 2 years after graduation.
Repayment shall be made through the bank and may be in one lump sum or by equal monthly installments comprising both principal and interest. Payment of the lump sum or first monthly installment shall not be lower than 2 years from the date that the interest is first chargeable on the loan or upon securing employment.
Application process:
- Application form can be found here.
- Student can drop completed application form at form submission box dedicated for IRO at Student Services Centre (SSC). Alternatively, student can also submit the form at IRO office directly.
- Together with the application form, student has to submit the copy of approval letter from his/her faculty/department on the programme and copy of student and guarantor NRIC/passport.
- IRO staff will inform student on the application result.
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