Disbursement of Financial Aid
Financial aid is awarded for the academic year and disbursed each semester based on a student’s enrolment status. Different aid schemes may disburse at different times as follows:
| No. | Financial Aid Scheme | Application/Acceptance Timeline | Disbursement Timeline (funds credited will be reflected in Student Account in Education Records System) | Usage/Receipt of Funds (funds credited will be reflected in student's bank account)& |
|---|---|---|---|---|
| 1 | Tuition Fee Loan+ | Apply by July (Semester 1) Apply by January (Semester 2) Apply after July/January | By mid-September (Semester 1) By mid-February (Semester 2) Up to 4 weeks from the application date | Funds will be used to offset tuition fees |
| 2 | Central Provident Fund (CPF) Education Loan Scheme+ | Apply by mid-July (Semester 1) Apply by early December (Semester 2) | By mid-September (Semester 1) By end-January (Semester 2) | Funds will be used to offset tuition fees |
| 3 | MENDAKI Tertiary Tuition Fee Subsidy+ | Apply by end-July (Semester 1) Apply by January (Semester 2) | By mid-September (Semester 1) By end-January (Semester 2) | Funds will be used to offset tuition fees |
| 4 | Post-Secondary Education Account (PSEA)+ (Standing Order) | Apply by early-August (Semester 1) Apply by December (Semester 2) | By mid-September (Semester 1) By early-February (Semester 2) | Funds will be used to offset tuition fees and miscellaneous fees |
| 5 | Post-Secondary Education Account (PSEA)+ (AD-HOC Withdrawal – Tertiary Tuition Fee-Course) | Apply by mid-August (Semester 1) Apply by mid-January (Semester 2) | Up to 6 weeks after application date | Funds will be used to offset tuition fees and/or miscellaneous fees |
| 6 | NUS Study Loan or NUS Student Assistance Loan | |||
| Sign agreement by mid-September (Semester 1) | Up to 4 weeks after the agreement signed date | Funds will be used to offset any outstanding fees. Any balance will be credited to your bank account by end September | ||
| Sign agreement by end-January (Semester 2) | Up to 4 weeks after the agreement signed date | Funds will be used to offset any outstanding fees. Any balance will be credited to your bank account by mid-February | ||
| Sign agreement after mid-September (Semester 1) and after end-January (Semester 2) | Up to 4 weeks after the agreement signed date | Funds will be used to offset any outstanding fees. Any balance will be credited to your bank account, 4 to 6 weeks after the agreement signed date | ||
| 7 | Higher Education Bursary or Higher Education Community Bursary or Residential Programme Bursary or Residential College Bursary | |||
| Accept by early-September (Semester 1) | By mid-September (Semester 1) | Funds will be used to offset any outstanding fees. Any balance will be credited to your bank account by end September | ||
| Accept by end-January (Semester 2) | By early-February (Semester 2) | Funds will be used to offset any outstanding fees. Any balance will be credited to your bank account by mid-February | ||
| Accept after mid-September (Semester 1) and after end-January (Semester 2) | 2 weeks after acceptance | Funds will be used to offset any outstanding fees. Any balance will be credited to your bank account, 4 to 6 weeks after acceptance | ||
| 8 | NUS Bursary or Donated Bursary | |||
| Accept and fulfil terms and conditions* by early-September (Semester 1) | By mid-September (Semester 1) | Funds will be used to offset any outstanding fees. Any balance will be credited to your bank account by end September | ||
| Accept and fulfil terms and conditions* by end-January (Semester 2) | By early-February (Semester 2) | Funds will be used to offset any outstanding fees. Any balance will be credited to your bank account by mid-February | ||
| Accept and fulfil terms and conditions* after early September (Semester 1) and after end-January (Semester 2) | 2 weeks after fulfilling the terms and conditions | Funds will be used to offset any outstanding fees. Any balance will be credited to your bank account, 4 to 6 weeks after fulfilling the terms and conditions |
& Funds credited will be reflected in student's bank account in 7 to 10 working days after the disbursement is reflected in Student Account in Education Records System
+ Refer to the Office of Financial Aid’s website for the exact deadlines.
* Refer to the Financial Aid Acceptance letter which you can access via the Applicant Portal.
Note that the date for funds disbursement may vary depending on satisfactory compliance with pre-conditions and documentary requirements. To avoid undue delays, all applicants should read carefully to ensure compliance with instructions and terms and conditions in the offer letter early. If you require urgent disbursement of your financial aid funds, approach our office for assistance.
The order of priority of payment by the various financial aid schemes for the payment of tuition fees and miscellaneous fees is shown below.
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 suspended/withdrawn 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 number 3 to 6 above).