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

scheme	country of study / attachment	max aid applicable
		Singaporean	Singapore PR	International
OSP Loan	Beijing, China	S$39,000	S$39,000

For OSP Loan applicants

Guarantor Requirements

1. Guarantor must be age 21 - 60 years and not a bankrupt.
2. A loan applicant who is a:
   • Singaporean student to provide a Singaporean guarantor
   • SPR and International students to provide a Singaporean / SPR guarantor
3. A person should not stand in as a guarantor for more than 2 loans.
4. The guarantor must be gainfully employed.
5. A student of Nanyang Technological University who satisfies (1), (2) and (3) may also act as a guarantor. However, a student who is in the process of applying or holding Tuition Fee Loan / loan from CPF Education Scheme or any other form of loan should not stand as a guarantor.
6. 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.

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 - 4 weeks after the application closing date.

 

Sequence of events:

1. Submit application form and all relevant supporting documents to Office of Admissions & Financial Aid (OAFA) by the given deadline.
2. You will be informed of your application outcome 3 - 4 weeks after the application closing date.
3. If you are granted the loan:
• A Loan Offer will be forwarded to you via email. You are required to click on the link provided in the email to indicate acceptance.
• Within 2 weeks of your loan acceptance, 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 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

• AY2013-14:  12 March 2013 to 28 March 2013