Overview
| HIGHER EDUCATION STUDENT LOAN (with effect from 1 July 2026) | |||
| Base Provision | Balance Fee Coverage | Living Allowance Loan | |
| Loan Amount | SC: up to 90% of the MOE-subsidised tuition fee payable by Singapore Citizens SPR: up to 65% of MOE-subsidised tuition fee payable by Singapore Permanent Residents IS: up to 45% of MOE-subsidised tuition fee payable by International Students | Covers remaining 10% of MOE-subsidised tuition fees | Up to $4,100 per academic year |
| Note: The quantum of loan does not include payment of annual/miscellaneous fees and GST. | To apply for Higher Education Student Loan – Base Provision together with the Balance Loan Coverage component and/or Living Allowance 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 | ||
| Eligibility | a) All full-time undergraduate students on MOE-subsidised programmes b) International undergraduates who had rejected the MOE Tuition Grant or who were offered admission without the MOE Tuition Grant are NOT eligible. | Full-time SC undergraduates on MOE-subsidised programmes only | a) All full-time undergraduate students on MOE-subsidised programmes b) International undergraduates who had rejected the MOE Tuition Grant or who were offered admission without the MOE Tuition Grant are NOT eligible. |
| Guarantor Requirements | a) Must be between the ages of 21 and 60 years old b) Must not be an undischarged bankrupt c) Must be a Singapore citizen for an applicant who is a Singapore citizen d) Can be either a Singapore citizen or a 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 | ||
| Repayment starts | Not later than 1 year after graduation or on securing employment, whichever is earlier. | ||
| Minimum repayment amount | $100 per month Upon graduation, you can opt to repay the HESL account either by a full lump-sum payment, partial payment or monthly instalments. | ||
| Maximum repayment period | 10 years | ||
| Interest rate | 3-month compounded Singapore Overnight Rate Average (3M SORA) plus 1.5%** ** The interest rate is subject to change on a half-yearly basis based on the 3M SORA published on the MAS website on 1 March or 1 September. For more information on applicable interest rates, please visit OCBC website. | ||
| Points to note | a) Interest-free during course of study, i.e. interest is computed upon graduation b) Interest and loan sum are paid to OCBC Bank c) Repay in full if student withdraws | ||
| Acronyms used: SC - Singapore Citizen; SPR - Singapore Permanent Resident; IS - Internation Student ** The interest rate is subject to change. | |||
| CPF EDUCATON LOAN SCHEME | |||
| Please refer to CPF website for more information. | |||
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