FINANCIAL AID

The value of the loan from the CPF Education Loan Scheme should not exceed the tuition fee payable. The CPF member may only use up to 40% of accumulated savings in the ordinary account, excluding amounts withdrawn for housing.

Who are eligible:

• Singapore Citizens and Permanent Residents taking full-time subsidised undergraduate programme regardless of family income
• Returning National Servicemen registering as undergraduate students in July/August and reading Internal Blended Learning Online Courses (iBLOCs)/Special Term Courses (only tuition fee portion is applicable)

Who are not eligible:

• Students who exceed their normal candidature and have fully utilised the MOE Tuition Grant
• Students who are paying full fees (non-subsidised), i.e., not taking up the MOE Tuition Grant or were given an admission offer without the MOE Tuition Grant
• Students receiving scholarships/bursaries/subsidies/awards which fully cover tuition fees
• Students reading the Concurrent Degree Programmes, once they are charged graduate tuition fees. Check your eligibility here
• Students who are reading the Joint-Degree Programmes (JDP)
• Part-time undergraduates and undergraduates reading the Bachelor of Information Technology

Note: The CPF Education Loan Scheme will not be applicable if tuition fee is already covered by a scholarship/NUS Bursary/MENDAKI Tertiary Tuition Fee Subsidy/Higher Education Community Bursary, For Medicine/Dentistry students, the Higher Education Community/Higher Education Bursary will be used to offset your tuition fee first before the CPF Education Loan Scheme.

For students using a combination of financial aid schemes for the payment of their subsidised tuition fees, the disbursement sequence is as follows (where applicable):

1. Scholarship that covers 100% of tuition fee / MENDAKI Tertiary Tuition Fee Subsidy (TTFS)
2. SkillsFuture Credit
3. Post-Secondary Education Account (PSEA) Scheme*
4. CPF Education Loan Scheme (CELS)*
5. NUS Study Loan*
6. Tuition Fee Loan (TFL)*
7. Bursaries^#
8. GIRO deduction from students' own account/other account/NETS/Others

* If your tuition fee is already covered by a scholarship/NUS Bursary/TTFS, schemes such as the PSEA, CELS, TFL and NUS Study Loan (Tuition Fee portion) will not be applicable and will not be disbursed if you are an existing recipient.

^# For Medicine/Dentistry students, the Higher Education Community Bursary/Higher Education Bursary will be used to offset your tuition fee first (before schemes c to f above).

Upon satisfactory compliance of all terms and conditions of the financial aid offer, the loan funds will be credited to the student's account by the Office of Finance twice yearly in half around September and February each year. The funds will be disbursed within 4 weeks after signing. All fees due to the University will however be deducted from such proceeds prior to crediting.

• Maximum repayment period of 12 years
• Repayment will commence no later than 1 year after graduation or leaving the programme, whichever is earlier
• Repayment of loan can be in one lump sum or by equal monthly instalments of minimum S$100 if the outstanding amounts is S$10,000 or less
• The student has to repay the full amount of CPF savings withdrawn and the interest from the time the savings are withdrawn. Repayment using CPF funds is not allowed
• Repayment of the interest from the time the savings are withdrawn is required. 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
• Repayment using their PSEA balance after graduation is allowed. To apply and find out more, click here and submit the application form to MOE directly here and submit the application form to MOE directly

The application procedures for the CPF Education Loan Scheme can be found here. The CPF Education Loan Scheme online application period for each semester is shown in the table below. Exact application dates can be found in the CPF Board Website.

A SingPass must be obtained before applying. Click here to apply.

If the application period for the CPF Education Loan Scheme is closed for the semester, you may consider applying for the Tuition Fee Loan or the Post-Secondary Education Account scheme to cover tuition fees for that semester.