MOE Tuition Fee Loan

Eligibility

1. All full-time students EXCEPT International Students (IS) paying non-subsidised tuition fees.

2. Singapore Citizens (SC) pursuing the Bachelor of Science (Honours) in Applied Computing [via the Competency-based Stackable Micro-credential (CSM) Pathway]* 
   * Singapore Permanent Residents (PR) and IS under the CSM Pathway are not eligible. 

3. SC and PR with non-accredited diplomas or A-level certification who are pursuing their undergraduate degrees and are required to take bridging/top-up modules.

Quantum of Loan

• For Eligibility Criteria No. 1 & 2: Loan covers up to 90% of subsidised fees payable by Singapore Citizens.

• For Eligibility Criteria No. 3: Loan covers 22.5% of the unsubsidised fees for bridging / top up modules.
  (E.g. If unsubsidised fee is S$100; Maximum Loan Quantum = S$100 x 22.5% = S$22.50)

**Note: Loan quantum does not cover Annual Fees and Incidental Fees. The total loan amount from Tuition Fee Loan and SIT Study Loan should not exceed 100% of subsidised fees payable by SCs.

Administration of Loan

DBS Bank will be handling the administration and disbursement of all MOE Tuition Fee Loan and MOE Study Loan Schemes at SIT.

Guarantor Requirements

• Loan application must include one guarantor between 21 – 60 years of age:

  • Must not be an undischarged bankrupt

  • No income qualification required

  • Must not be an existing guarantor for more than two (2) students' loans concurrently

  • Nationality of guarantor:

    1. SC guarantor for SC applicant;

    2. SC or PR guarantor for PR applicant;

    3. SC, PR or foreigner for IS applicant.

Loan Interest

The following interest rates will be applicable to all new Government education loan (i.e. 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 SORA[1] published on the Monetary Authority of Singapore’s (MAS) website[2] 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 DBS website for the applicable interest rates on every 1 April and 1 October.

Repayment of Loan

• Repayment of loan can be in one lump sum or by equal monthly instalments commencing no later than two years from the date of graduation or upon securing employment, whichever is earlier.

• The minimum sum of repayment is S$100 per month and the maximum repayment period is 20 years.

• In the event that the student withdraws from SIT without completing the programme of study, the loan outstanding will immediately become due and payable.

Bank Late Payment Charges

Penalty interest will be levied at the rate of 1% per month on instalments in arrears.

Usage of PSEA for Repayment of Approved Loan Schemes

Terms and conditions apply, please refer to the DBS website for more information. 
Please refer to the Financial Assistance page to view all application periods.

MOE Tuition Fee Loan vs CPF Education Loan Scheme

For more information, please see MOE Tuition Fee Loan (MOE TFL) infographic.

 

How To Apply

1. Applicants are to submit their MOE Tuition Fee Loan (TFL) application to DBS online. Please read through this guide to learn more about what to prepare in advance before submitting the Tuition Fee Loan application online.

2. Please visit MOE Tuition Fee Loan | DBS Singapore and follow the instructions in the ‘Apply Now’ section.

 

DBS will not be accepting hardcopy applications at their Raffles Place Branch, except for Applicants with Guarantors who are NOT residing or working in Singapore.

For Applicants with Guarantors who are NOT residing or working in Singapore:

1. Students are to submit an application for the MOE TFL via the IN4SIT portal. To access the portal, students are to login to the Student Intranet and click on the "IN4SIT" tab.

2. After submitting an application in IN4SIT,

   • 1. Student downloads and emails the MOE TFL Application Form and Letter of Offer to Guarantor.

     2. Guarantor completes and signs the MOE TFL Application Form and Letter of Offer in the presence of a notary public or officer from Singapore Embassy. Guarantor should also obtain a notarised photocopy of his/her Identity Card/passport.

     3. Guarantor mails/couriers all the completed and notarised documents from Step (b) to Student in Singapore.

     4. Student brings all the documents received from Guarantor and own passport to sign the Letter of Offer in the presence of a bank officer in our DBS Singapore Raffles Place Branch.

3. Students to update the Bank Submission Details in IN4SIT after application has been endorsed by a bank officer.

• The location and operating hours of DBS Raffles Place branch are as follows:

DBS Raffles Place Branch
22 Malacca St #01-00 RB Capital Building
Singapore 048980

Operating Hours
Mondays to Fridays: 8:30am to 4:30pm
Saturdays: 8:30am to 1pm
Excluding Sundays and Public Holidays

 

For all MOE Tuition Fee Loan applications, please take note:

• Students will only need to apply for this loan once for the duration of their respective degree programme at SIT. Successfully activated MOE TFL will only commence from subsequent billing cycles.

 

For Further Enquiries:
Admissions and Financial Aid Division (Fas@SingaporeTech.edu.sg) Tel: 6592 1136
Bank: DBS Bank Ltd Tel: 6333 0033