Repayment starts one year after graduation or on leaving the course, whichever is earlier. The student has to repay the full amount of CPF savings withdrawn and the interest from the time the savings are withdrawn. The interest, which is based on the prevailing CPF interest rate, will be credited into the CPF account of the member whose savings had been used. The repayment can be made in one lump sum or by monthly installments over a maximum period of 12 years. For outstanding amounts of up to $10,000, the minimum repayment per month is $100.
Students may use their PSEA balance for the repayment of their loan after they have graduated. To apply and find out more about the scheme, please click here. Please note that the application form should be submitted to MOE directly.