Higher Education Student Loan (HESL) (with effect from 1 July 2026)

(a) International undergraduates who had rejected the MOE Tuition Grant or who were offered admission without the MOE Tuition Grant are NOT eligible.
(b) Eligibility for means-tested provision:
    - SC and SPR with gross monthly household per capita income (PCI) of $3,500 or less;
    - IS with gross monthly household PCI of $1,875 or less.

(a) The quantum of loan does not include payment of annual/miscellaneous fees.
(b) The quantum of loan is pegged to the subsidised tuition fees payable (excluding GST).
(c) Loan is interest-free during course of study, i.e. interest is computed upon graduation or leaving the University.
(d) Loan interest and principal sum are payable to OCBC Bank when they fall due.
(e) For students who leave the University without graduation, the loan outstanding will become due and payable in full immediately.
(f) A guarantor is required and he/she must be between 21 and 60 years of age (based on the guarantor’s age at the point of loan application),  meet the citizenship status criteria and is not an undischarged bankrupt.

(a) Application Dates
Application for HESL is open all year round. Tuition fee financing shall be on a prospective basis, commencing the following term from the point of loan application.
      • Financing commencing Term 1 – May to November
      • Financing commencing Term 2 - December to April

As a start, the StudentLoan SG (SLSG) portal will accept HESL application from the following students who can use their Singpass account:
      • Newly matriculated students in Academic Year (AY) 2026 intake
      • Existing students (before AY2026 intake) who do not have TFL and SL for their current course of study

Existing students who have already taken up TFL and/or SL but wish to apply for new or additional loan provision under the HESL scheme, please approach Centre for Student Financial Assistance for advice and needs assessment from Tuesday, 1 September 2026.

(b) Application Submission
Please apply for HESL via StudentLoan SG portal – https://go.gov.sg/slsg (Singpass required) which will be launched from 10am on Wednesday, 1 Jul 2026.

(c) To apply for Higher Education Student Loan – Base Provision together with the Balance Fee Coverage component and/or Living Allowance Loan component, you are required to submit a bursary application for means-testing via OASIS > All Apps > Financial Aid Application.

Financial Aid Type: Bursary
Application Form: SMU-Administered Bursaries/Study Awards

To avoid undue delays to application processing and disbursement of loans, all applicants should read carefully and ensure early compliance with the instructions as well as terms and conditions indicated in the application.

d) Additional Instructions for HESL: Overseas Student Programme Component
Step 1 – Submit an application via OASIS > All Apps > Financial Aid Application using your student username and password.

Financial Aid Type: Loan
Application Form: HESL-Overseas Student Programme

Step 2 – Complete and submit the application form and related supporting documents, including the email/letter confirmation from SMU for your approved overseas programme.

Step 3 – Look out for the loan application approval email from SMU.

Step 4 – Proceed to StudentLoan SG portal and apply for the overseas student programme component.

Students must submit their application at least 2 months prior to trip departure and ensure loan signing is completed before departure.

A guarantor is required. A person acting in the capacity of guarantor must meet the following conditions:
(a) Must be between the ages of 21 years old and 60 years old (based on the guarantor’s age at the point of application)
(b) Must not be an undischarged bankrupt
(c) Must be a Singaporean for an applicant who is a Singaporean
(d) Can either be a Singaporean or a Singapore Permanent Resident for an applicant who is a Singapore Permanent Resident
(e) Can be of any nationality for an applicant who is a non-Singaporean/Singapore Permanent Resident

The HESL is interest-free during course of study, and interest will start upon your graduation or when you leave the institution. The interest rate basis is:

• Standard interest
3-month compounded Singapore Overnight Rate Average (3M SORA) plus 1.5 percentage points or such other rates as may be determined from time to time by the bank

• Late payment interest for overdue and unpaid loans or loan instalments
3M SORA plus 4.5 percentage points or such other rates as may be determined from time to time by the bank

The interest rates are revised on a half-yearly basis based on the 3M SORA published on the Monetary Authority of Singapore's (MAS) website on:

• 1 March for the period 1 April to 30 September
• 1 September for the period 1 October to 31 March of the following calendar year

For instances where 1 March and/or 1 September falls on a weekend and/or a public holiday and rates are not published by MAS, the interest rate will take reference from the 3M SORA published on the Singapore business day before.

You may refer to OCBC website (the Bank administering the loan scheme) for the prevailing interest rates for the HESL.

The maximum repayment period for the HESL is 10 years.

Upon graduation, you can opt to repay the HESL account either by a full lump-sum payment, partial payment or monthly instalments.
If you leave the University without graduation, your HESL outstanding will become due and payable in full immediately.

For students who receive multiple financial aid sources for the payment of tuition fees, the disbursement sequence will be in the following order of priority:

(a) MENDAKI Tertiary Tuition Fee Subsidy (TTFS)
(b) Scholarship/Bursary (per gift agreement)
(c) SkillsFuture Credit
(d) Post-Secondary Education Account (PSEA) Scheme
(e) Central Provident Fund Education Loan (CPFEL)*
(f) Higher Education Student Loan (HESL) – Balance Fee Coverage & Living Allowance*
(g) Higher Education Student Loan (HESL) – Base Provision*

*If your tuition fee is already fully covered by a Scholarship/Bursary, MENDAKI TTFS, PSEA and CPFEL, the HESL – Base Provision and HESL – Balance Fee Coverage will not be disbursed.

>> Click HERE to view details of the loan schemes and/or MOE website for more details.

Office of Finance 
Singapore Management University 
81 Victoria Street Singapore 188065
>> Click HERE to submit enquiry to Office of Finance

For enquiries relating to loan application status, please visit StudentLoan SG (SLSG) portal or contact OCBC FRANK Retail Stores or Branches.
For enquiries relating to your loan repayment plan prior to/upon your completion of studies, please contact OCBC FRANK Retail Stores or Branches.
Tel: 1800 363 3333 (within Singapore) 
+65 6363 3333 (outside Singapore)

Contact the Office of Finance for enquiries relating to the following:
- Post-Secondary Education Account 
- CPF Education Loan Scheme 
- Mendaki Tertiary Tuition Fee Subsidy Scheme
>> Click HERE to submit enquiry to Office of Finance

Financial aid schemes for undergraduates:
Centre for Student Financial Assistance Office of Admissions and Financial Assistance 
Singapore Management University 
SMU Li Ka Shing Library, #B1-22/23 (Beside SMU Campus Clinic)
70 Stamford Road, Singapore 178901
Email: finasst@smu.edu.sg