Temasek Polytechnic Tuition Fee Loan Scheme
Under the Ministry of Education’s effort to provide affordable higher education, all eligible students in Singapore will be able to apply for the Tuition Fee Loan Scheme offered by Temasek Polytechnic. This loan is administered by DBS, but you are not obligated to have a DBS account to apply for this tuition fee loan.
Who Is Eligible for This Tuition Fee Loan Scheme?
All full-time students who enjoy subsidised education will be eligible to apply for this loan. However, the following students will not be eligible:
- All international students who chose to opt out from the tuition grant.
- All Malay students who get full Tertiary Tuition Fee Subsidy (TTFS).
- Students who hold SAF Scholarship or other local training awards.
How Can I Apply for This Tuition Fee Loan Scheme?
You can apply for this tuition fee loan scheme by taking the following steps:
- You will have to download the tuition fee loan application form from the website of the polytechnic.
- Bring the completed application form along with your guarantor to any DBS bank branch and get it endorsed by the bank.
- Once the bank endorses your application form, you must retain a copy of the bank application form as proof of submission for future reference.
- Submit a copy of the bank endorsed Loan application form to the polytechnic. If you are a new student, you can submit it with your enrolment forms.
What Are the Eligibility Criteria for a Guarantor?
A guarantor must fulfil the following eligibility criteria:
- He/she must not be an undischarged bankrupt.
- He/she must be at least 21 years old and not older than 60 years.
- He/she must be a citizen for students who are citizens; a citizen or Permanent Resident (PR) for students who are PRs or international students.
How Much Will I Get as Part of the Tuition Fee Loan Scheme?
You are eligible to get up to 75% of the subsidised tuition fee as part of the loan scheme. You will have to pay the remaining 25% of the fee and other fees from your own pocket. You have the option of taking help from other financial schemes to cover the remaining balance.
Various Conditions Associated With the Repayment of the Loan
The various conditions that you will have to fulfil when you repay the loan are as follows:
- If you graduate in the first half of the year and you have no National Service commitment, you will have to start repaying in equal monthly instalments or in one lump sum from 1 June of the year following the year in which you graduate.
- You must pay at least S$100 each month and repay over a maximum period of 10 years.
- If you graduate in the second half of the year and you have no National Service commitment, you must start paying in instalments or in a lump sum from 1 December of the year following the year in which you graduate.
- If you are obligated to serve in National Service, you can start the repayment in instalments or in a lump sum from the year after you complete your stint in the National Service.
- If you leave the polytechnic without completing your course, the outstanding loan amount shall become due and payable immediately.
If you wish to get any additional information, you can call the DBS Tuition Fee Loan hotline number at 6333 0033.