Government loans charge no interest during studies. Interest starts only after graduation which gives students time to find employment first.
Education loans help students and their families finance tuition fees, living expenses and study related expenses in Singapore or overseas. Funding options
include government backed schemes administered by the Ministry of Education (MOE) such as the Tuition Fee Loan, Study Loan and the new Higher Education Student
Loan (HESL) launching July 2026 as well as bank education loans from major banks and general personal loans that can be used for any educational purpose.
Government loans offer interest free periods during study and lower rates while bank loans provide more flexibility for private institutions and overseas studies
.
This page explains the different education financing options available, eligibility requirements, typical costs and how to choose the most suitable loan for your situation.
An education loan also referred to as student loan is financing specifically designed to cover tuition fees, living expenses and study related costs for tertiary education. In Singapore, education loans come from two main sources: government backed schemes (MOE Tuition Fee Loan, Study Loan, HESL) administered through DBS and OCBC for subsidised local programmes and bank education loans (OCBC FRANK Education Loan, POSB Further Study Assist) for private or overseas studies. Personal loans can also be used for educational purposes without restrictions.
Startups under 6 months may only qualify for microloans or alternative financing
Government loans charge no interest during studies. Interest starts only after graduation which gives students time to find employment first.
Government loans charge 3M SORA plus margin (4-5%). Bank education loans range 4.5% to 5.5% p.a. which is lower than personal loans (5% to 14% EIR).
Government loans cover up to 90% of subsidised fees. Bank loans can cover 100% of fees plus living expenses for local or overseas studies.
Up to 20 years to repay university loans. Repayment starts after graduation with a minimum $100 per month instalment.
Government education loans should always be the first choice for students in MOE subsidised programmes. They offer interest free periods during study, lower interest rates and up to 20 years to repay terms no personal loan can match.
Only consider bank education loans or personal loans if you're studying at a private institution, going overseas or need funds beyond what government schemes cover. The
new Higher Education Student Loan (HESL) launching July 2026 will consolidate existing schemes and may offer improved terms so best to check MOE's website for the latest updates before applying. 
All lenders verified against Ministry of Law registry. Last updated: May 19 2026.
Different loan types serve different educational needs.
| Provider | Best For | Max Amount | Interest Rate | Interest-Free Period | |
|---|---|---|---|---|---|
| Tuition Fee Loan | MOE (via DBS/OCBC) | Subsidised local programmes | 90% of subsidised fees | 3M SORA plus margin | During studies |
| Study Loan | MOE (via DBS/OCBC) | Lower-income students (PCI $2,700) | Remaining fees plus living allowance | 3M SORA plus margin | During studies |
| HESL (from Jul 2026) | MOE | Replaces above schemes | TBC | TBC | During studies |
| OCBC FRANK Education Loan | OCBC | Private/overseas studies | 100% of tuition | 4.5% p.a. (EIR 5.17%) | Optional grace period |
| POSB Further Study Assist | DBS/POSB | Private/overseas studies | $80,000 or 6x income | 4.38% p.a. (EIR 4.56%) | None |
| Personal Loan | Various banks | Any educational expense | Up to $200,000 | 5% to 14% EIR | None |
| CPF Education Scheme | CPF Board | Local tertiary education | CPF OA balance | 2.5% (to CPF) | N/A |
IMPORTANT UPDATE:Four main sources, each with different rates, coverage and eligibility.
| Singapore Citizen | Permanent Resident | International | |
|---|---|---|---|
| Polytechnic Diploma | $3,000 to $3,500 | $6,000 to $7,000 | $10,000 to $12,000 |
| NUS/NTU/SMU (Arts/Social Sciences) | $8,000 to $10,000 | $12,000 to $14,000 | $18,000 to $22,000 |
| NUS/NTU (Engineering/Computing) | $9,000 to $11,000 | $13,000 to $15,000 | $20,000 to $25,000 |
| NUS/NTU (Medicine/Dentistry) | $30,000 to $35,000 | $45,000 to $50,000 | $20,000 to $25,000 |
| Private University (Local) | $20,000 to $35,000 | $20,000 to $35,000 | $20,000 to $35,000 |
| Tuition (Per Year) | Living Expenses | Total Annual Cost | |
|---|---|---|---|
| UK | £15,000 to £40,000 | £12,000 to £18,000 | S$50,000 to S$120,000 |
| USA | US$30,000 to US$60,000 | US$15,000 to US$25,000 | S$80,000 to S$150,000 |
| Australia | A$25,000 to A$50,000 | A$20,000 to A$30,000 | S$50,000 to S$90,000 |
| Canada | C$20,000 to C$40,000 | C$15,000 to C$20,000 | S$40,000 to S$70,000 |
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Education loans cover tuition and study costs but depending on the situation other financing options may be relevant. For students and parents needing flexible purpose funds, personal loans from banks and loans from moneylenders offer quick approval without restrictions on usage.
Play around with our personal loan calculator which helps estimate repayments for different amounts and tenures or check our borrow money online page for a broader understanding of financing options.
For bank specific personal loan packages reviews are available for DBS, OCBC, Standard Chartered, HSBC, CIMB and Maybank.
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Trust the original! #roshi #singapore #lending #borrowing
.Don't be a fool! #roshi #singapore #lending #borrowing
