The NTU Study Loan is meant for both local and international NTU undergraduates* who require assistance to finance their tuition fees and/or living expenses.
Please note that the NTU Study Loan is not a guaranteed loan and will be awarded only to those who meet the eligibility criteria.
* Note:
- Students will only be covered under the scheme for the first 3 years of the Biomedical Sciences & Chinese Medicine programme.
- International students paying non-subsidised tuition fees are not eligible to apply for financial aid schemes.
Who is eligible?
|
PCI = |
Gross income of family members in household |
|
Total number of family members in household |
Gross income refers to amount before deduction of CPF. It includes allowances, overtime, commissions etc.
Quantum
The Study Loan is a 2-in-1 loan which finances part of the tuition fees and living costs.
|
(a1)
|
≤ S$2,400 (for SG and SPR students)
≤ S$1,200 (for International students)
(Loan is interest bearing after graduation) |
Maximum Tuition Fee Loan (TFL) of 90% of the subsidised tuition fees payable by Singaporeans |
Tuition Fee Loan component
10% of the subsidised tuition fee payable by Singaporeans
Living allowance loan component
May also opt to apply for a living allowance loan of S$1,200, S$2,400 or S$3,600 per AY. Loan is disbursed in Sem 1 and 2 |
|
(a2) |
CPF Education Scheme (CPF) covering 90% of the subsidised tuition fees payable by Singaporeans |
| (a3) |
Combination of TFL / CPF / Mendaki TTFS / PSEA covering 90% of the subsidised tuition fees payable by Singaporeans |
|
(b1)
|
≤ S$2,400 (for SG and SPR students)
≤ S$1,200 (for International students)
(Loan is interest bearing after graduation) |
CPF Education Scheme (CPF) covering 100% of the subsidised tuition fees payable by Singaporeans |
Living allowance loan component
Living allowance loan of S$1,200, S$2,400 or S$3,600 per AY. Loan is disbursed in Sem 1 and 2 |
| (b2) |
Mendaki Tertiary Tuition Fee Subsidy (Mendaki TTFS) covering 100% of the subsidised tuition fees payable by Singaporeans |
| (b3) |
Combination of TFL / CPF / Mendaki TTFS / PSEA covering 100% of the subsidised tuition fees payable by Singaporeans |
| (c1) |
≤ S$500 (for SG and SPR students)
(Loan is interest free up to 5 years after graduation) |
Maximum Tuition Fee Loan (TFL) of 80% of the subsidised tuition fees payable by Singaporeans |
Tuition Fee Loan component
20% of the subsidised tuition fee payable by Singaporeans
Living allowance loan component
May also opt to apply for a living allowance loan of S$1,200, S$2,400 or S$3,600 per AY. Loan is disbursed in Sem 1 and 2 |
| (c2) |
CPF Education Scheme (CPF) covering 80% of the subsidised tuition fees payable by Singaporeans |
| (c3) |
Combination of TFL / CPF / Mendaki TTFS / PSEA covering 80% of the subsidised tuition fees payable by Singaporeans |
Guarantor requirements
- One guarantor.
- Guarantor must be aged 21 - 60 years and not a bankrupt.
- A loan applicant who is a:
- Singaporean student to provide a Singaporean guarantor.
- SPR students to provide a Singaporean / SPR guarantor.
- International students to provide a guarantor of any nationality.
- Person who is also a loan applicant should not stand in as a guarantor for another loan applicant.
- A person must not stand in as a guarantor for more than two loans.
- A student of Nanyang Technological University who satisfies (2), (3) and (4) 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.
Interest
- Interest free during studies.
- For Singaporeans and SPRs, loan is interest-free up to 5 years after graduation if PCI < S$500. Otherwise, the loan will be interest bearing after graduation.
- Interest rate will be based on the average prime lending rate of the three local banks (DBS, OCBC and UOB).
- For international students, the loan is interest bearing after graduation regardless of PCI.
Repayment
Commences 6 months after graduation or securing employment, whichever is earlier.
Repayment period:
- Up to 5 years (if loan is interest waived) or
- Up to 20 years (if loan is interest bearing).
How to apply
Existing students:
- Apply online through StudentLink during the application period.
- Submit supporting documents in person or by post within 7 calender days upon your online application.
- Outcome of your loan will be informed to you via your NTU Student Email Account within 3 weeks of receipt of all the necessary documents.
- You need only apply once for this loan to cover you for the duration of your programme at NTU.
Application period
Application for AY2009-10 Semester 2
- AY2009-10 Semester 2: 4 January 2010 - 29 January 2010