IMPORTANT NOTE:
OSPL application will close on 15 May 2026 at 11:59 PM, and late applications will NOT be accepted.
Successful applicants are required to sign the loan agreement at OCBC by 12 June 2026, due to updates to the student loan framework for AY2026/27.
If you are unable to apply by the deadline, you may submit your application from 1 July 2026.
About the loan
The MOE Overseas Student Programme Loan (OSPL) Scheme is aimed at enabling more Singaporean students to take advantage of various overseas experiences so as to gain international exposure and consequently develop a more global mindset. The loan scheme is available for students participating in OSPs approved by the University.
Quantum
- Student Exchange Programme - Up to $11,500
- Other/Winter or Summer Study Programme - Up to $8,000
- Study Mission - Up to $3,500
- Internship Programme - Up to $11,500
- Community Service - Up to $3,000
Eligibility
- Full-time undergraduate students of SMU
- Singapore Citizens
Guarantor
(a) Must be between the ages of 21 and 60 years old
(b) Must not be an undischarged bankrupt
(c) May not serve in this capacity for more than two outstanding student loans, including this loan
(d) Must be a Singapore citizen
Interest
The following interest rates will be applicable to all new Government education loan (ie. Tuition Fee Loan, Study Loan, Overseas Student Programme Loan) agreements signed on and after 1 April 2024.
| 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/loan instalment | 3M SORA plus 4.5 percentage points or such other rates as may be determined from time to time by the bank |
* not applicable to interest-free Study Loan
The interest rates will be revised on a half-yearly basis based on the 3M SORA1 published on the Monetary Authority of Singapore’s (MAS) website2 on 1 March (for the period 1 April to 30 September) or 1 September (for the period 1 October to 31 March of the following calendar year)3. You can visit Oversea-Chinese Banking Corporation (OCBC Bank) website for the applicable interest rates on every 1 April and 1 October.
(similar to Tuition Fee Loan Scheme)
1 SORA is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8am and 6.15pm. The 3-month compounded SORA is the rolling compounded average of daily SORA over the past respective period.
2 https://eservices.mas.gov.sg/statistics/dir/DomesticInterestRates.aspx
3 If 1 March or 1 September falls on a weekend and/or a public holiday when the 3M SORA rates are not published by MAS, we will take the 3M SORA published on the MAS website on the last preceding business day in Singapore. For example, if 1 September is a Saturday, we will take the 3M SORA published on MAS website on 31 August.
Repayment
- No later than 2 years after graduation or on securing employment, whichever is earlier
- Maximum repayment period of 5 years
- Repay in full if student withdraws
- Contact OCBC Bank on loan repayment plan - Tel: 1800 363 3333 (within Singapore) or +65 6363 3333 (outside Singapore)
Points to Note
(a) Interest-free during course of study, ie interest is computed upon graduation.
(b) Interest and loan sum are paid to OCBC Bank.
(c) Repay in full if student withdraws from overseas programme or studies.
Application
Applications are to be submitted to SMU before proceeding to any of the OCBC FRANK retail stores or branches to complete the application and signing process after receiving Letter of In-Principle Approval from SMU:
Apply via student portal, OASIS > Self-service App > Financial Aid Application using student computer account username and password.
>> Click HERE for application instructions
Enquiries
Office of Finance
Singapore Management University
81 Victoria Street
Singapore 188065
>> Click HERE to submit enquiry to Office of Finance
Contact OCBC FRANK Retail Stores or Branches for enquiries relating to application status after your loan signing process is completed, and your loan repayment plan prior to/upon your completion of studies.
Tel: 1800 363 3333 (within Singapore)
+65 6363 3333 (outside Singapore)
Contact 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
81 Victoria Street
Level 3 SMU Administration Building
Singapore 188065
Email: finasst@smu.edu.sg
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