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I have received the NUS admission offer letter. When can I apply for the TFL?
You can start applying for TFL upon receipt of the NUS admission offer letter. The application deadline is stated at http://www.nus.edu.sg/oam/financialaid/loans/financial-loans-tuitionfee.html.
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How do I apply for the TFL?
You have to download the application form at: http://www.nus.edu.sg/oam/financialaid/loans/financial-loans-tuitionfee.html and submit the duly completed form to either DBS Bank or OCBC Bank to process the loan application.
You and your guarantor are required to sign the TFL agreement in the presence of a Bank officer.
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3. |
Can a non-Singaporean be my guarantor for the TFL?
Only Singapore Citizen guarantors are acceptable for Singapore Citizen students; Singapore Citizen/SPR guarantors are acceptable for SPR students and Singapore Citizen/SPR/non-Singaporean guarantors are acceptable for international students.
However, if you have valid reasons for not securing a guarantor who meet the nationality requirements above, you can appeal to the Office of Financial Aid via financialaid@nus.edu.sg.
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4. |
What will happen if my non-Singaporean guarantor cannot be present in Singapore to sign the TFL agreement?
If your non-Singaporean guarantor is unable to be physically present in Singapore, he/she will have to sign the TFL agreement in the presence of a notary public in the country that he/she is at.
However, as a student borrower, you are still required to sign the TFL agreement in the presence of a Bank officer.
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5. |
Will I be notified about the outcome of my TFL application?
Application for TFL is processed by DBS or OCBC Bank. You and your guarantor can submit the application form and relevant supporting documents to either bank personally. The bank will process the application immediately and will be able to inform you of the outcome upon verification of the documents provided. If the documentation is in order, you will be given a copy of the TFL agreement which can be executed thereupon in the presence of the bank officer.
If instructions have been fully complied with, the entire application can be finalized in a single visit to the bank.
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6. |
If I have already obtained the TFL, do I have to re-apply for this loan every year?
The TFL is tenable for the entire course of study. Therefore, you do not have to re-apply every year.
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7. |
When do I start repaying my liabilities under the TFL?
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 or on securing employment, whichever is earlier. The maximum repayment period is 20 years.
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