These schemes are designed to help BMS students who face financial difficulties to defray their overseas expenditure while studying at the Beijing University of Chinese Medicine (BUCM).
Loan : Overseas Student Programme (OSP) Loan
Eligibility
| OSP Loan |
Open to all financially needy full-time BMS undergraduates going to the BUCM for their 4th and 5th year of studies. |
| A student is only eligible for one OSP Loan during his/her course of study at NTU. |
Quantum
| OSP Loan |
Beijing, China |
S$38,000 |
S$38,000 |
|
For OSP Loan applicants
Guarantor Requirements
- The guarantor must be above 21 years of age and not exceeding 60 years.
- A loan applicant who is a:
- Singaporean student to provide a Singaporean guarantor
- SPR student to provide a Singaporean / SPR guarantor
- International student to provide a guarantor of any nationality
- The guarantor must not be a bankrupt.
- The guarantor must be gainfully employed.
- If the person is also a loan applicant, he/she should not stand in as a guarantor for another loan applicant because of his/her loan liability.
- A person should not stand in as a guarantor for more than 2 loans.
- For SPR & international applicants, a student of Nanyang Technological University who satisfies (1), (2) and (3) may also act as a guarantor. However, a student who is holding Tuition Fee Loan / loan from CPF Education Scheme or any other form of loan should not stand as a guarantor. For Singaporean applicants, students of Nanyang Technological University may not act as a guarantor.
- If the application for OSP loan is successful, the applicant and the guarantor have to be both present at NTU to sign the Loan Agreement.
Interest
- Interest-free during course of study.
- Interest will commence upon graduation. Interest rate will be based on average prime lending rate of the 3 local banks (DBS, OCBC & UOB).
Repayment
| OSP Loan |
- Maximum loan period of 5 years.
- Minimum repayment of $100 per month (monthly instalment of $100).
- For Singaporean students, repayment to commence no later than 2 years after graduation or upon securing employment (whichever is earlier).
- For Singapore PR and international students, repayment to commence no later than 3 months after graduation.
- You may carry out a prepayment of your loan in part or in full any time without incurring any prepayment charges.
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How to apply
- Apply online through StudentLink during the application period.
- Please apply only after you have applied for your overseas programme. You need not wait for your programme outcome before applying to us.
- Submit supporting documents.
- The outcome of your application will be informed to you 3 weeks after the application closing date.
Sequence of events:
- Submit application form and all relevant supporting documents to Office of Admissions & Financial Aid (OAFA) by the given deadline.
- You will be informed of your application outcome 3 weeks after the application closing date.
- If you are granted the loan:
- A Loan Letter of Offer will be forwarded to you. You are required to sign on the Letter of Offer to indicate acceptance, and return it to OAFA.
- Office of Finance will contact you to arrange for both yourself and your guarantor to visit their office to sign the Loan Agreement.
- After the Loan Agreement has been signed, Office of Finance will release the entire approved loan amount (in one lump sum) to you via a cheque after you have been confirmed an overseas placement. The Office in charge of your Overseas Programme will update Office of Finance once your overseas placement is confirmed.
Application period
- AY2009-10 Semester 1: 9 March 2009 to 15 April 2009