Tuition Fee Loan Scheme - National University of Singapore

The Tuition Fee Loan Scheme offered by the National University of Singapore is one of the numerous financial schemes offered by the Government of Singapore for students facing financial difficulties. As part of this loan scheme, you will get a loan amount of up to 90% of the tuition fees charged to a Singaporean citizen. There is no minimum income requirement to apply for this loan. The university has appointed OCBC and DBS to manage the scheme.

What Are the Terms Associated With the Interest Rate Applied?

The interest is calculated based on the average prime rates of UOB, OCBC, and DBS and on the prevalent rate on the first day of the quarter or on rates determined by the bank upon your graduation. The interest is calculated on a monthly rest basis on a 365-day year. If you leave the programme without completing, interest will be charged from the first day of the month following the month in which the bank is notified. The interest will be charged from the following dates based on the time you graduate:

Graduation period Interest chargeable from
1 January to 30 June 1 August in the year of graduation
1 July to 31 December 1 March in the year following graduation

Late payments: You will have to pay a penalty interest of 1% every month that you are late on your monthly instalment payment.

What Are the Terms Associated With Loan Repayment?

The Tuition Fee Loan Scheme offered by the National University of Singapore has the following repayment terms associated with it:

  • You can repay the loan in a lump sum or in monthly instalments, starting not later than two years after you graduate or after you secure a job, whichever comes first.
  • You will be able to make an early repayment in full or in part if you give the bank a written notice of at least seven working days. You can also make partial repayment in multiples of S$1,000.
  • The minimum repayment amount per month is S$100 and you can pay the amount over a period of 20 years.
  • If you leave the programme without completing, the outstanding amount will be due and payable immediately. However, you can choose to repay the outstanding loan in monthly instalments as per the terms and conditions dictated by the university which will be determined on a case-by-case basis.

What Are the Eligibility Criteria for This Loan?

Students who join the following programmes will be eligible to apply for the Tuition Fee Loan Scheme:

  • Graduate research courses.
  • Full-time government-subsidised graduate courses, including the following:
    • Programmes run by Singapore-MIT Alliance, Lee Kuan Yew School of Public Policy, and Duke-NUS Medical School.
    • Master in Landscape Architecture and Master in Architecture courses.
  • International students are eligible to apply even from overseas (covered in detail below).

If you (local student) are applying for the first time you must be present with your guarantor at the bank with the completed application form with respective identity cards and admission letter to support your loan application.

The following students will not be eligible to apply for the Tuition Fee Loan Scheme:

  • Students enrolled in self-funded courses.
  • Students enrolled in part-time coursework.
  • SAF Awards holders.
  • PSC Bursary/Scholarship holders.
  • MOE Bursary/Scholarship holders.
  • Holders of Tuition Fee Allowance/Fellowship/Scholarship.
  • Students who are not qualified for MOE subsidy.
  • Foreign nationals who are not on Service Obligation Scheme.

What Are the Guarantor Requirements?

You will need one guarantor who meets the following conditions in order to be eligible to apply for this loan:

  • Your guarantor must be aged between 21 years and 60 years.
  • If you are a Singapore citizen, your guarantor must also be a Singapore citizen.
  • Guarantors do not have to meet a minimum income requirement.

International Students Applying from Home Country: Need to Knows

If there is a DBS or OCBC Bank branch in your home country, follow the steps below:

  • Take the completed application form along with your guarantor to the OCBC/DBS Bank branch.
  • A bank officer will oversee the signing of your application and the Letter of Offer provided by the bank.
  • For verification, you will need to show your ID card or passport and the Letter of Offer for Admission issued by NUS.
  • Once you reach Singapore, visit any bank branch to submit your application and Letter of Offer.

If there is no DBS or OCBC Bank branch in your home country, follow the steps below:

  • Take the completed application form to any OCBC/DBS Bank branch in Singapore.
  • A bank officer will oversee the signing of your application along with the Letter of Offer provided by the bank.
  • For verification, you will need to show your ID card or passport and the Letter of Offer for Admission issued by the National University of Singapore.
  • You can then mail the signed application form and your Letter of Offer to your guarantor.
  • Your guarantor will have to sign both these documents in the presence of an officer of the Singapore Embassy or the Notary Public. They must then endorse the document from where your guarantor signed it.
  • Your guarantor must then mail these signed documents back to you for you to submit it at any OCBC/DBS Bank branch.

All eligible students must submit the application by the second week of the semester. If you are a research student who has been accepted after the commencement of the semester, you must submit your application within 2 weeks of your registration date.

Need Clarifications? Contact DBS/OCBC Hotline

If you are applying for this loan with DBS, here are the Customer Service Hotline numbers:

  • (65) 6363 3333
  • 1800 363 3333

If you are applying for this loan with OCBC, here are the Customer Service Hotline numbers:

  • (65) 6333 0033
  • 1800 111 1111

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