FINANCIAL AID

The NUS Study Loan is tenable for the entire undergraduate programme duration. Re-application is not required.

Note: The NUS Study Loan (tuition fee portion) will not be applicable if tuition fee is already covered by a scholarship/ NUS Bursary/ MENDAKI Tertiary Tuition Fee Subsidy/ Higher Education Community Bursary. For Medicine/Dentistry students, the Higher Education Community/ Higher Education Bursary will be used to offset your tuition fee first (before the NUS Study Loan (tuition fee portion).

Note

Singapore Permanent Residents and international students who take up both the Tuition Fee Loan and Study Loan will only receive a total loan amount equivalent to the subsidised tuition fees payable by Singapore Citizen students for the same programme. As the subsidised tuition fees for Singapore Permanent Residents and international students are higher than the fees for Singapore Citizen students, the loans will not cover the tuition fees in full.

Who are eligible:

• Monthly household per capita income (PCI) of S$2,700 or less for Singapore Citizens and Singapore Permanent Residents, or S$1,200 or less for international students.

• Full-time undergraduate students
• Part-time Singapore citizen undergraduates reading the Bachelor of Technology or Bachelor of Science (Nursing Practice) Programme (only tuition fee portion is applicable) and are pursuing the first undergraduate degree of study
• Singapore Citizen undergraduates reading the Bachelor of Information Technology and paying subsidised tuition fees (only tuition fee portion is applicable) and are pursuing their first undergraduate degree of study
• Returning National Servicemen who will be registering as undergraduate students in the coming July/August and reading Internal Blended Learning Online Courses (iBLOCs)/Special Term Courses (only tuition fee portion is applicable)
• Full fee-paying international undergraduates who have used up their MOE Tuition Grant subsidy and taken the NUS Study Loan before being charged the full tuition fee rate.
• 5th Year undergraduates taking Double-Degree Programmes (Percentage of coverage is based on the subsidised tuition fee rate portion only)

Who are not eligible:

• Students receiving any scholarships / bursaries / other subsidies or loans which fully cover tuition fees
• Students reading the Concurrent Degree Programmes are not eligible for the Tuition Fee Loan once they are charged graduate tuition fee. Check your eligibility here
• Full-time undergraduate International Students who are paying full (non-subsidised) fees, i.e., did not take up the MOE Tuition Grant or were given an admission offer without the MOE Tuition Grant

For students using a combination of financial aid schemes for the payment of their subsidised tuition fees, the disbursement sequence is as follows (where applicable):

1. Scholarship that covers 100% of tuition fee / MENDAKI Tertiary Tuition Fee Subsidy
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 not be disbursed 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 c to f above).

Upon satisfactory compliance with all terms and conditions of the financial aid offer, the loan funds will be credited to the student's account by the Office of Finance twice yearly in half around September and February each year. All fees due to the University will however be deducted from such proceeds prior to crediting.

• Up to 5 years (if loan is offered as interest free)
• Up to 20 years (if loan is offered as interest bearing)
• Interest computation for interest bearing loans is deferred until after graduation. Repayment will commence 6 months after graduation. For more information on the applicable interest rates, please visit OCBC website.
• Repayment of loan can be made in one lump sum or by equal monthly instalments of minimum S$100

Students may use their PSEA balance for loan repayment after graduation. To apply and find out more about the scheme, click here. The application form should be submitted to MOE directly.

To be considered for the NUS Study Loan, you are required to apply for Financial Aid here.

Existing NUS Study Loan recipients who have changed their degree programme and are charged new tuition fee amounts are required to inform OCBC of their change in degree programme so that the bank may update their information accordingly.

Undergraduates who have transferred from other local universities and had taken up the Study Loan for their previous degree programme are required to submit a new application if they are interested to apply for the NUS Study Loan to cover their undergraduate degree programme in NUS.

Execution of Loan in Singapore

For the execution of the NUS Study Loan in Singapore, applicants and their guarantors are required to call personally at any OCBC branches excluding alll FRANK stores in Singapore with the completed NUS Study Loan Agreement, the original and copies of their identity cards/passports and NUS Student Card. Please note that your loan application will be rejected if clear, printed photocopies of the required documents are not provided. Please note that the Digital NRIC (obtained from SingPass) will not be accepted. More information can be found in the Letter of Eligibility which will be sent to eligible students. 

Execution of Loan for Guarantors Signing Overseas

If the applicant’s guarantor is not in Singapore, the applicant’s guarantor can sign their portion of the NUS Study Loan Agreement overseas in the presence of a Notary Public^#. If the Notary Public seal is NOT in English, a translated document is required to translate the seal into English.

Please note that your loan application will be rejected if the following are not adhered to:

• The guarantor is required to sign the loan agreement in the presence of a Notary Public
  • Section II (page 8)
  • Particular’s Form (page 9)
  • Declaration by Guarantor section (page 10)
  • Bottom of every page
  • The Notary Public has to sign/seal beside every signature
• Amendments to the loan agreement should be done in the presence of a Notary Public. The Notary Public has to sign/seal beside each amendment.
  
  
• Photocopies of original documents* should be signed/sealed by the Notary Public. Printed photocopies of documents provided should be clear.
  
  
• Applicants are required to provide a Singapore address to OCBC upon arrival in Singapore.

Once the Loan Agreement has been signed, the guarantor will have to mail the executed Loan Agreement to the applicant together with copies of his/her identification documents that was signed/sealed by Notary Public using a traceable mode of delivery. 

After receiving the Loan Agreement and identification documents, the applicant can proceed to any OCBC branches (excluding FRANK Stores) in Singapore to sign his/her portion of the Loan Agreement. More information can be found in the Letter of Eligibility which will be sent to eligible students.

Execution of Loan for Applicants and Guarantors Signing Overseas

If both the applicant and his/her guarantor are not in Singapore, they will both have to sign the NUS Study Loan Agreement overseas in the presence of a Notary Public^#. If the Notary Public seal is NOT in English, a translated document is required to translate the seal into English.

Please note that your loan application will be rejected if the following are not adhered to:

• The borrower is required to sign loan agreement in the presence of a Notary Public
  • Under the section I (page 8)
  • Particular’s Form (page 9)
  • Declaration by Borrower section (page 10)
  • Bottom of every page
  • The Notary Public has to sign/seal beside every signature.
• The guarantor is required to sign the loan agreement in the presence of a Notary Public
  • Section II (page 8)
  • Particular’s Form (page 9)
  • Declaration by Guarantor section (page 10)
  • Bottom of every page
  • The Notary Public has to sign/seal beside every signature.
• Amendments to the loan agreement should be done in the presence of a Notary Public. The Notary Public has to sign/seal beside each amendment.
• Photocopies of original documents* should be signed/sealed by the Notary Public. Printed photocopies of documents provided should be clear.
• Applicants are required to provide a Singapore address to OCBC upon arrival in Singapore.

Once the applicant and his/her guarantor have signed the Loan Agreement, the applicant will then have to mail the Loan Agreement and Notary Public seals to OCBC Singapore using a traceable mode of delivery at the following address:

Consumer Loan Operations  (TC2)
31 Tampines Avenue 4
#01-01/03 OCBC Tampines Centre Two
Singapore 529680
Attention: Person-in-charge, Secured Loan Non-Mortgage

^# Notary Public: An official who is authorized by federal or local government to attest and certify certain documents by his or her hand and official seal. Some lawyers are appointed as Notary Publics by their governments. ONLY lawyers appointed as Notary Publics are acceptable as witnesses for the guarantor signing of the NUS Study Loan agreement.

Part-time Undergraduates and Bachelor of Information Technology

Part-time Singapore Citizen undergraduates reading the Bachelor of Technology and Bachelor of Science (Nursing Practice) programme and undergraduates reading the Bachelor of Information Technology should apply for Financial Aid to be considered for this loan (Tuition fee portion only).

An email invitation to apply for Financial Aid will be sent by the faculty in July or December each year. Follow the instructions in the email to apply for Financial Aid accordingly.

• A guarantor is required. He or she must be between 21 and 60 years of age (based on the guarantor’s age at the point of application) and is not an undischarged bankrupt.

1. Students who have successfully applied for the NUS Study Loan (Tuition Fee portion)but were subsequently awarded scholarships or any other awards that fully cover their tuition fees are required to suspend or terminate their loan by informing the Office of Finance via NUService Hub..
2. Existing Study Loan recipients who have changed their programme and are charged new tuition fee amounts are required to inform the Loan-Administering Bank of their change in programme.
3. Undergraduates who transferred from other local universities and had taken up the Study Loan for their previous programme are required to submit a new application.