{"id":26444,"date":"2024-08-29T16:16:42","date_gmt":"2024-08-29T16:16:42","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/?p=26444"},"modified":"2025-08-06T07:30:00","modified_gmt":"2025-08-06T07:30:00","slug":"student-loan-singapore","status":"publish","type":"post","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/student-loan-singapore\/","title":{"rendered":"How To Be Eligible In Student Loan Singapore?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"26444\" class=\"elementor elementor-26444\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2cb8892 e-flex e-con-boxed e-con e-parent\" data-id=\"2cb8892\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9334c3d elementor-widget elementor-widget-heading\" data-id=\"9334c3d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\"><b>How to Be Eligible in Student Loan Singapore?<\/b><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ae9ff6 e-flex e-con-boxed e-con e-parent\" data-id=\"8ae9ff6\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c97649 elementor-widget elementor-widget-text-editor\" data-id=\"4c97649\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><i><span style=\"font-weight: 400;\">Is a student loan Singapore necessary?\u00a0<\/span><\/i><\/p><p><span style=\"font-weight: 400;\">These are often heard from students or working adults going back to school. The cost of further education is expensive and can be overwhelming. Fortunately, the Singapore government helps with these costs through tuition fee loans, study loans, and bursaries through many schools. In addition, <\/span><a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/personal-loan-bank\/\"><span style=\"font-weight: 400;\">banks offer study loans<\/span><\/a><span style=\"font-weight: 400;\"> with extended repayment periods, making payment for your studies easier.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">A student loan Singapore is indeed vital in achieving your <a href=\"https:\/\/nusgs.nus.edu.sg\/\" target=\"_blank\" rel=\"noopener\">graduate diploma<\/a>. But how can you be eligible for each education loan option? Let\u2019s discuss which might be best for you in this article.\u00a0<\/span><\/p><p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-26449\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/graduating-with-student-loan-Singapore-300x200.jpg\" alt=\"graduating with student loan Singapore\" width=\"650\" height=\"434\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/graduating-with-student-loan-Singapore-300x200.jpg 300w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/graduating-with-student-loan-Singapore-768x513.jpg 768w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/graduating-with-student-loan-Singapore.jpg 828w\" sizes=\"(max-width: 650px) 100vw, 650px\" \/><\/p><h2><b>Student Loan Singapore<\/b><\/h2><p><span style=\"font-weight: 400;\">The government in Singapore covers a large part of <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/student-loan-vs-line-of-credit\/\">education costs<\/a>, especially for Singapore Citizens at public Institutes of higher learning. However, students still have to pay the remaining fees. If you need more financial aid, government bursaries and financial assistance from schools can help. Plus, the following are student loans Singapore:\u00a0<\/span><\/p><h3><span style=\"font-weight: 400;\">Tuition Fee Loan (TFL)<\/span><\/h3><p><b>Who Can Apply<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Full-time Singaporean students studying at universities and polytechnics<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Singapore Permanent Residents and international students, but the terms may vary slightly.<\/span><\/li><\/ul><p><b>Loan Amount<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">90% is a subsidised tuition fee payable by Singapore Citizen students in universities and polytechnics<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You only need to pay 10% out of your pocket<\/span><\/li><\/ul><p><b>Interest Rates<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest-free during your studies.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No worries about your loan amount growing while focusing on your classes.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest is charged once you graduate at the <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/best-rate-personal-loan\/\">average prime rate<\/a> of DBS, OCBC, and UOB.<\/span><\/li><\/ul><p><b>Repayment Period<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Loan repayment starts after graduation, giving you <\/span><a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/best-jobs-in-singapore\/\"><span style=\"font-weight: 400;\">time to find a job<\/span><\/a><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Up to 20 years to repay.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Longer repayment period keeps monthly payments lower and manageable, especially when starting your career<\/span><\/li><\/ul><p><b>Minimum Monthly Repayment<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">$100 monthly, but you can pay more to clear your debt faster.\u00a0<\/span><\/li><\/ul><p><b>Application Process<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Apply through the school\u2019s financial aid office.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bring filled-out application forms, identification, and course of study enrollment.<\/span><\/li><\/ul><p><img decoding=\"async\" class=\"aligncenter wp-image-26453 size-full\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/Tuition-Fee-Loan.jpg\" alt=\"Tuition Fee Loan | Student Loan Singapore\" width=\"612\" height=\"323\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/Tuition-Fee-Loan.jpg 612w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/Tuition-Fee-Loan-300x158.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p><h3><span style=\"font-weight: 400;\">Study Loan (SL)<\/span><\/h3><p><b>Who Can Apply<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Full-time Singaporean students at universities and polytechnics<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Singapore Permanent Residents, but the terms may vary slightly.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Students with a tuition fee loan but still need more financial help<\/span><\/li><\/ul><p><b>Loan Amount<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cover the remaining 10% or 20% of your tuition fees that the Tuition Fee Loan doesn\u2019t cover.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The loan amount depends on your family\u2019s household income.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A lower-income family can qualify for a living allowance of up to $3,600 annually for daily expenses like food, transport, or school supplies.<\/span><\/li><\/ul><p><b>Interest Rate<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest-free during your studies.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No worries about your loan amount growing while focusing on your classes.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest is charged once you graduate at the average prime rate of DBS, OCBC, and UOB.<\/span><\/li><\/ul><p><b>Repayment Period<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Loan repayment starts after graduation, giving you time to find a job<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Up to 10 years to repay.<\/span><\/li><\/ul><p><b>Minimum Monthly Repayment<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">$100 monthly, but you can pay more to clear your debt faster.\u00a0<\/span><\/li><\/ul><p><b>Application Process<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Apply through the school\u2019s financial aid office.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bring your household income, student status, and identification.\u00a0<\/span><\/li><\/ul><p><img decoding=\"async\" class=\"aligncenter wp-image-26454 size-full\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/Study-Loan.webp\" alt=\"Study Loan | Student Loan Singapore \" width=\"600\" height=\"400\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/Study-Loan.webp 600w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/Study-Loan-300x200.webp 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/p><h3><span style=\"font-weight: 400;\">FRANK Education Loan\u00a0<\/span><\/h3><p><b>Who Can Apply<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Open for full-time or part-time students at approved universities, colleges, or private schools in Singapore and overseas.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Singapore Citizens, Permanent Residents, and <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/foreigner-loan-singapore\/\">international students<\/a><\/span><\/li><\/ul><p><b>Loan Amount<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Up to 10 times your monthly income or a maximum of $150,000, whichever is lower.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cover tuition fees, books, laptops, or any other school-related expenses.<\/span><\/li><\/ul><p><b>Interest Rates<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Usually lower than <\/span><a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/best-personal-loan-singapore\/\"><span style=\"font-weight: 400;\">regular personal loans<\/span><\/a><span style=\"font-weight: 400;\">, but starts once the loan is approved.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates can vary. Check out the OCBC offers when you apply.<\/span><\/li><\/ul><p><b>Repayment Period<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Up to 8 years, giving you flexibility in managing your monthly payments.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Longer loan repayment period means a smaller monthly payment, but you\u2019ll pay more interest over time.<\/span><\/li><\/ul><p><b>Flexible Repayments<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Repay the student loan Singapore immediately or wait until you finish your studies.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Early repayment has fees.\u00a0<\/span><\/li><\/ul><p><b>Application Process<\/b><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Online or at any OCBC branch<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bring identification, proof of income, and school admission documents.<\/span><\/li><\/ul><h2><b>Quick Tips for Student Loan Singapore Application<\/b><\/h2><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-26455 size-full\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/receive-your-diploma.webp\" alt=\"receive your diploma\" width=\"600\" height=\"400\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/receive-your-diploma.webp 600w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/receive-your-diploma-300x200.webp 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/p><h3><span style=\"font-weight: 400;\">Understand your Financial Need<\/span><\/h3><p><span style=\"font-weight: 400;\">Before taking out a loan, consider everything you need for your education\u2014 course of study fees, school costs, living expenses, books, etc. Borrow what you genuinely need. Remember, a student loan Singapore isn\u2019t free money; you\u2019ll have to repay it with interest.<\/span><\/p><h3><span style=\"font-weight: 400;\">Review the Student Loan Singapore Fees and Terms<\/span><\/h3><p><span style=\"font-weight: 400;\">Banks might charge a processing fee for the loan, or they might not. Check with your bank. Also, if you plan to repay early, find out if there\u2019s a penalty fee. Ensure you know how long you\u2019ll have to repay the loan.\u00a0<\/span><\/p><h3><span style=\"font-weight: 400;\">Search for Subsidies or Discounts<\/span><\/h3><p><span style=\"font-weight: 400;\">Student Bank Loan Singapore offers special deals or discounts for specific courses or schools. Check if there are any promotional rates available. In addition, you can apply for government-subsidised loans or financial aid programs if you qualify. These usually have lower interest rates and better terms.<\/span><\/p><p><span style=\"font-weight: 400;\">Are you interested in taking an International Student Loan Singapore? You can take a low-interest personal loan from a licensed moneylender. Cash Mart is always open for eligible borrowers. <\/span><a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/\"><span style=\"font-weight: 400;\">Apply on their official website today<\/span><\/a><span style=\"font-weight: 400;\">!<\/span><\/p><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-26456 size-full\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/finish-education.jpg\" alt=\"finish education\" width=\"612\" height=\"408\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/finish-education.jpg 612w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-content\/uploads\/2024\/08\/finish-education-300x200.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p><h2><b>Frequently Asked Questions: Student Loan Singapore<\/b><\/h2><h3><i><span style=\"font-weight: 400;\">Are Student Loans Taxable in Singapore?<\/span><\/i><\/h3><p><span style=\"font-weight: 400;\">No, a student loan Singapore is non-taxable. You don\u2019t have to pay taxes on the <\/span><a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/loan-sg\/\"><span style=\"font-weight: 400;\">instant cash loan<\/span><\/a><span style=\"font-weight: 400;\"> for school. However, you must repay it with interest later on.<\/span><\/p><h3><i><span style=\"font-weight: 400;\">Can I Get a Home Loan with Student Debt in Singapore?<\/span><\/i><\/h3><p><span style=\"font-weight: 400;\">Yes, you can still get a home loan, even with a student loan Singapore. However, your study loans will be considered when the bank decides how much they can lend you. A substantial home loan amount might be challenging if you have many debts. Ensure you can manage your payments and have a steady income.<\/span><\/p><h3><i><span style=\"font-weight: 400;\">Can You Use a Student Loan for University Hostel Fees?<\/span><\/i><\/h3><p><span style=\"font-weight: 400;\">Yes, some student loans pay for university hostel fees. If your student loan Singapore covers living expenses, it can help with the cost of university hostels. Check with your school or bank to see if this option is included.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>How to Be Eligible in Student Loan Singapore? Is a student loan Singapore necessary?\u00a0 These are often heard from students or working adults going back to school. The cost of further education is expensive and can be overwhelming. Fortunately, the Singapore government helps with these costs through tuition fee loans, study loans, and bursaries through [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":29165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[2,9,38,3,4],"tags":[],"class_list":["post-26444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-borrow","category-career","category-education","category-family","category-saving"],"acf":[],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/posts\/26444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/comments?post=26444"}],"version-history":[{"count":27,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/posts\/26444\/revisions"}],"predecessor-version":[{"id":29166,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/posts\/26444\/revisions\/29166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/media\/29165"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/media?parent=26444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/categories?post=26444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/cashmart.com.sg\/wp-json\/wp\/v2\/tags?post=26444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}