Financial Schemes

This scheme allows students to use their PSEA funds to pay for Tuition Fees as well as other fees

Eligibility criteria:

Singaporeans or students with Singaporean siblings who have PSEA funds

Quantum:

Total amount of PSEA funds in the student or sibling's account

Application:

1. PSEA Standing Order

- For New and Existing students

- For deduction of school fees (until depletion of funds or termination by student)

- Using student's own and/or student's siblings' account

Submit an e-application via https://go.gov.sg/psea-standing-order; or scan the following QR code

Should you wish to terminate the standing order, submit e-application via https://form.gov.sg/5e8581e37191390011a12e22

2. PSEA Ad Hoc Withdrawal

- For Existing students

- For one-time deduction of school fees after billing

- For claiming of cost of overseas trips within 2 weeks after returning

- Using student's own and/or student's siblings' account

Submit an e-application via https://go.gov.sg/psea-withdrawal-sp1

Important to Note before Application:

• Student, parent (or legal guardian) and siblings must be above 21 years old, have SingPass and email accounts to apply/authorise for MOE-PSEA. 

• To apply for Singpass, please refer to www.singpass.gov.sg for details.

• Sibling(s) who is/are 21 years or above, need to authorise within 7 calendar days upon submission of the application.

• If student is above 21 years and is using sibling(s) PSEA who is below 21 years, parent need to authorize within 7 calendar days upon submission of the application.

To check your PSEA balance, please call MOE's PSEA Hotline at Tel: 6260 0777

For more information, visit www.moe.gov.sg/contact

This scheme, funded by the MOE, enables students to take out a loan that remains interest-free throughout their Polytechnic studies. Repayment, including interest at the applicable rates, begins only after the student graduates or leaves the Polytechnic.

You may refer to this  infographic for more information.

(Except students who are sponsored by companies or fully subsidised by MENDAKI)

For the balance of 25%, you can either pay in cash and/or apply for the CPF-AES Scheme (above)

3 years or per loan agreement signed with DBS Bank

1. Please submit an online application via Tuition Fee Loan | DBS Singapore and follow the instructions on the ‘Apply Now’ section
2. Student and Guarantor are required to register for digibank for the application
3. Student will require the following documents to apply:

• A copy of your Student Card / Offer Email from Admission Office
• A copy of your Passport (for International students)
• Click here to know what you need to prepare in advance to be able to submit your Tuition Fee Loan Application online

The following interest rates will be applicable to all new Government education loan (i.e. Tuition Fee 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
  * not applicable to interest-free Study Loan

• 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

Note:

1. The interest rates will be revised on a half-yearly basis based on the 3M Singapore Overnight Rate Average (SORA) published on the Monetary Authority of Singapore’s (MAS) website 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).  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
2. Please visit DBS website at Education Loans for Your Studies | DBS Singapore  for the applicable interest rates on every 1 April and 1 October

Students can loan from their parents' or spouses' CPF savings (Ordinary Account) to pay for their tuition fees at Singapore Polytechnic. For information or application, please visit CPF website.

However, as the CPF savings are meant to be preserved for retirement needs of parents or loved ones, students are strongly encouraged to consider the TFL. Please see above tab for more details.

• Full-time subsidised diploma students; and
• Must be a Singapore Citizen (SC) or Singapore Permanent Resident (SPR)

*With effect from April 2024, CPF Board will only accept new applications from SC/SPRs

Application is done on the CPF website for a limited time at the beginning of each semester. Student is required to have a SingPass.

For enquiries, please contact CPF Call Centre at Tel: 1800-227-1188 or Write to CPF here.