Singapore University of Social Sciences (SUSS) Tuition Fee Loan Scheme

To help students who need financial assistance to pay their tuition fees, the government of Singapore offers a Tuition Fee Loan (TFL) Scheme in partnership with different educational institutes in Singapore including the Singapore University of Social Sciences (SUSS). This loan scheme is administered by DBS Bank.

How Much Can I Borrow?

As part of this loan scheme, you can borrow up to 90% of the subsidised tuition fees and there are no income criteria that you have to fulfil to qualify for this loan. This loan scheme does not cover any miscellaneous fees. You can pick any of these loan quanta: 90%/80%/50%/30% of the overall subsidised tuition fees.

What Is the Interest Rate Charged and How Is It Calculated?

The interest rate on this loan scheme will be accrued from the first day of the third month following your graduation. 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.

What Are the Terms Associated with Repayment?

The terms associated with repayment are as follows:

  • 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 can repay the amount over a period of 20 years. The minimum repayment amount is S$100 every month.
  • If you leave the university before completing the course, the outstanding loan amount will be immediately due and payable.

Am I Eligible for This Tuition Fee Loan Scheme?

The Tuition Fee Loan Scheme is offered to Singapore citizens pursuing Ministry of Education-subsidised undergraduate programmes at the Singapore University of Social Sciences. However, candidates under the following categories will not be eligible for this loan:

  • Foreign nationals and Permanent Residents.
  • Students who receiving scholarships from SUSS, the government, Statutory Board that covers the full tuition fee.
  • Students who are pursuing non-undergraduate programmes.
  • Students who are part of Mendaki Study Loan Part Time Scheme that covers the entire tuition fee.
  • Students not receiving a tuition fee subsidy from the Ministry of Education.

Eligibility Criteria for the Guarantor

To apply for this loan, you must have a guarantor who should fulfil the following criteria:

  • He/she must be aged between 21 and 60 years.
  • He/she must be a citizen of Singapore.
  • He/she must not be a bankrupt.

What Are the Supporting Documents for a TFL Application?

You must have the following documents at the time of application:

  • NRIC/Passport (guarantor and student).
  • SUSS's student card (for existing students) or Provision/Final Offer Letter of Admission (for new students).
  • Copy of blank Letter of Offer.
  • Completed copy of the loan application form.

When Should I Apply By?

The application submission deadlines differ depending on the semester you are enrolling for:

  • Submission deadlines for the January Semester: 1 September to 30 November.
  • Submission deadlines for the July Semester: 1 March to 31 May.

How Can I Apply for This Loan?

If you want to apply to this loan scheme, you will have to take the following steps:

  1. Download the blank Letter of Offer and the application form from the university website.
  2. Bring the completed application form together with all the necessary documents and the Letter of Offer to any of the DBS branches before the submission deadline. You must also bring your guarantor at the time of application.
  3. If you fulfil all the eligibility criteria, you will get a completed copy of the Letter of Offer and the terms and conditions associated with the loan scheme on the same day.
  4. Once you have submitted all the documents, the bank will take about 14 business days to process your loan application after which they will inform Singapore University of Social Sciences on the status of your application.
  5. If your application is successful, Singapore University of Social Sciences will inform you by email on the balance amount payable after getting approval from the bank.

If you submit your application without the entire set of required documents, your application will be considered incomplete and will not be processed. If you want to get any further information, you can call the DBS Tuition Fee Loan hotline number at 6333 0033.

Have Further Queries? Here Are Answers to a Few

Q. I have missed the application deadline. Can I still apply for this loan?

A. Yes. Although you must submit your application for TFL by the submission deadline, you can appeal for an extension along with the reason(s) for late submission, the supporting documents to the Student Support department of SUSS through this email: [email protected] The university will inform you of your application’s outcome within 7 business days after submission. If your loan has been approved, you will have 5 business days to visit any DBS Bank branch to submit your application along with the approval letter and your supporting documents.

Note that your application should be approved by DBS 1 month before your semester commences. If this requirement is not met, you will have to pay the full fee for that semester.

Q. Can I re-apply for the Tuition Fee Loan if I have been rejected?

A. Yes. If your loan application has been rejected for the first semester, you can re-apply for it in the next semester, provided you submit your application within the deadline and meet all the eligibility criteria.

Q. If my TFL has been approved, do I have to apply every semester for it to be effective?

A. No. Upon approval of your loan, it will cover your entire course duration.

Q. Can I change my loan quantum after it has been approved?

A. You may be able to change your loan quantum after your loan has been approved. However, you need to contact DBS regarding the same and meet any terms and conditions applicable. The approval for the change will solely depend on DBS’s discretion. It is advised to decide your loan quantum during the application process itself.

Q. Can I cancel my Tuition Fee Loan?

A. Yes. If you wish to cancel your loan, you will have to notify the university and DBS regarding the same. You will then be assisted regarding the steps to take to terminate the loan.

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