The NUS Study Loan is tenable for the entire course of study. Based on the assessed level of neediness, an eligible applicant will be offered one ore more of the following types of loan:

Type A1

20% tuition fee payable by Singapore Citizens for the same course and a living allowance loan of $3,600 per year.

Type A2

20% of tuition fee payable by Singapore Citizens for the same course.

Type A3

A living allowance loan of $3,600 per year.

Type B1

10% of tuition fee payable by Singapore Citizens for the same course and a living allowance loan of $3,600 per year.

Type B2

10% of tuition fee payable by Singapore Citizens for the same course.

Type B3

A living allowance loan of $3,600 per year.

Local and international undergraduates whose monthly per capita household income* (PCI) is not more than $2,400 and $1,200 respectively.

Type A1 & A2

Undergraduates who have received financing of 80% of tuition fee payable by Singapore Citizens for the same course from at least one or a combination of the following: TFL; CES; TTFS; aid from a registered government agency.

Type B1 & B2

Undergraduates who have received financing of 90% of tuition fee payable by Singapore Citizens for the same course from at least one or a combination of the following: TFL; CES; TTFS; aid from a registered government agency.

Type A3 & B3

Undergraduates who have received financing of 100% of tuition fee payable by Singapore Citizens for the same course from at least one or a combination of the following: TFL; CES; TTFS; aid/scholarship from a registered government agency which does not cover living expenses.

Full fee paying international undergraduates who registered in AY2006 and thereafter are not eligible.

Part-time undergraduates who are Singapore Citizens and eligible to apply for the NUS Study Loan will not be offered the living allowance loan. They will be offered either Type A2 or B2 depending on the assessed level of neediness

Type A1/A2/A3

The loans are interest free for Singaporeans only. The maximum repayment period is 5 years.

Type B1/B2/B3

Interest computation is deferred until after graduation. Thereafter, average prime rate of DBS, OCBC and UOB applies. Maximum repayment period is 20 years.

Repayment can be in one lump sum or in fixed equal monthly installments (minimum of $100 per month) commencing not later than 6 months after graduation or on securing employment, whichever is earlier.

A guarantor is required. He or she must be a Singaporean between 21 and 60 years old and is not a bankrupt. He or she cannot be a party (borrower/guarantor) to more than one other loan. Only Singaporean guarantors are acceptable for Singaporean students; Singaporean/SPR guarantors are acceptable for SPR students and Singaporean/SPR/non-Singaporean guarantors are acceptable for international students

Apply for Financial Aid online from 1 February - 1 April 2009 to be considered for this loan.