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.

 

[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 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

  • PSEA holders may utilise the funds remaining in their respective PSEA to repay the MOE TFL after successful graduation from the programme, i.e. PSEA holder must have left the institution of study prior to using the PSEA for the repayment of any approved loan scheme. 

  • Funds from the PSEA can be used to repay the principal loan amount, and any interest charged in respect of the loan or financing scheme that is payable by the PSEA account holder as part of the outstanding loan. 

  • PSEA holders can only use their own PSEA for the repayment of approved loan schemes, minimum withdrawal amount is $100, as per the minimum monthly repayment sum for the approved loan schemes.

  • For more information on the usage of the PSEA for repayment of approved loan schemes, please click here.

  • To withdraw your PSEA funds for the repayment of MOE TFL, you can submit your application online using your SingPass. Students are strongly encouraged to understand the rules of usage of the PSEA prior to submission of the form. 

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

OLD TEMPLATE

How To Apply

Full-time Undergraduate and Postgraduate Students Only
  • Students are to submit an application for the Tuition Fee Loan by logging in to IN4SIT to submit an online application and generate the Loan Agreement Form and Letter of Late Endorsement (applicable for late applications only). The System User Guide for Undergraduate students can be found here.

  • Students are to present a copy of the SIT Letter of Offer (new students) or Student Matriculation Card (current students) in addition to the Letter of Late Endorsement and the completed loan application form when applying at the DBS Bank.

  • Please note that all applications should only be submitted to the DBS Raffles Place Branch. All other DBS/POSB Branches will not be accepting applications. The location and operating hours are as follows:

DBS Raffles Place
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

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