Getting a good degree from a reputed institution could be critical to your career. But even when you have the merit to win a place at a good university, the costs associated with student life could be daunting.
The costs of studying at an institution like the National University of Singapore (NUS) could run into thousands of dollars. The costs at private institutions could be even more. Although universities may offer financial aid in the form of work-study options and bursaries, they come with strict eligibility criteria.
This is why student loans are a key financial product. Apart from giving you the freedom to pursue your dreams, studying on borrowed money could instill a sense of responsibility that could make you work harder towards your goals. Here we take a look at some of the best student loans available in Singapore:
One among the best student loans out there, the POSB Further Study Assist offers a relatively high amount and flexible options for repayment. Here are its key features at a glance:
One of the factors that make this education loan from RHB Bank special is the low interest rate. The repayment period offered is also one among the best in the market. Key features of this product include:
CIMB prefers to position this loan as a product that covers all your education needs. While it does offer attractive interest rates, they are not the lowest in the market. Below are its main features:
The Maybank Education Loan comes with fairly low interest rates to begin with and gives the option of funding studies within Singapore and abroad. Its major features are:
With competitive interest rates and convenient repayment options, this loan offers to cover your education expenses in local and overseas institutions. Major features of this product include:
While the student loans mentioned above may be some of the best options for you, do make sure you read the terms and conditions before settling on one. Consider how much money you would need and make a plan on how you would go about repaying the loan. This will ensure your student years do not bring about a heavy financial burden when you start your professional life.