Post Secondary Education Account (PSEA)

Post Secondary Education Account (PSEA)

The PSEA scheme is administered by the Ministry of Education (MOE) which allows students to utilise the funds in their own and/or their siblings’ PSEA accounts for the payment of tuition fee and annual fees (excludes hostel fees and late fees) as well as course fees for enrichment programmes approved by SIT, such as the Overseas Immersion Programme. 

Eligibility Criteria:

Undergraduate and postgraduate students who have a PSEA account. The PSEA scheme also allows students to utilise their siblings’ PSEA funds for the payment of their tuition fees and annual fees. 

Quantum:

Up to 100% of tuition fee and annual fees payable by student, subject to availability of funds.

1. STANDING ORDER ARRANGEMENT

On-going withdrawal for payment of both tuition fees and compulsory annual fees. Once Standing Order is established, funds equivalent to your total tuition and annual fees or your available PSEA funds (whichever is lower) will be automatically withdrawn each semester. (Example: If you have $4000 in PSEA funds and your semester’s tuition and annual fees are $3,300, a total of $3,300 will be withdrawn from the PSEA account).

1A. STANDING ORDER FORM SUBMISSION

Matriculated students: 1 month before the commencement of the next semester/trimester

*Note: If students intend to use PSEA funds to pay only a portion of the tuition or miscellaneous fees, please complete the PSEA Ad Hoc Withdrawal Form instead.

2. AD HOC WITHDRAWALS

PSEA Ad Hoc Withdrawal Form is to be completed for one-time withdrawal (annual fees / tuition fees / fee for enrichment programme / Overseas Immersion Programme (OIP) / Overseas Exposure Programme (OEP)) for any one particular semester/trimester.

*Note: If you intend to use PSEA funds for payment of annual fees for each subsequent semester, you are required to submit a new Ad Hoc Withdrawal form for each semester.

2A. AD-HOC WITHDRAWAL FORM SUBMISSION

Please submit your Adhoc Withdrawal Form for the payment of tuition fees after you have received your Fee Advice. A form submission guide is available HERE

Submission dates for AY2018/19 matriculated students:

Term Billing Application deadline for PSEA Ad-hoc Withdrawals
Semester 1 - Aug/Sept Billing By end-Oct 2018
Semester 2 - Jan Billing By mid-Feb 2019
Semester 3 - Apr Billing By mid-June 2019


NOTES:

  1. Students who intend to utilise their PSEA funds solely for the payment of tuition and/or miscellaneous fees are strongly encouraged to make the PSEA Ad-Hoc Form submission after they have received the notification email from Student Finance regarding the final Fee Statement in order to determine the actual fees payable. This is to ensure that the quantum indicated on the Ad-Hoc Withdrawal Form will be accurate (net off other Financial Assistance utilised for tuition fees). 
  2. Students should stil proceed with payment by the payment deduction deadline stated in the Fee Statement. Any subsequent excess in students' account due to the receipt of PSEA amount from MOE will be refunded. 

 

Enquiries on PSEA Funds Availability:

You may call the Edusave/ PSE Scheme Hotline at (+65) 6260 0777 to:

  • Check on your account balance (updated every Wednesday) on a 24-hour basis.
  • Obtain general information on schemes.

You may also wish to email your enquiries to contact@moe.gov.sg

General Application Procedures:

  1. Download the “Standing Order” form and submit it to the Student Services Division during the above application period; or
  2. Download the “Adhoc Withdrawal” form and submit to Student Services Division during the above application period.
  3. MOE will inform students of application outcome. A monthly transaction statement will be sent to account holder if there are PSEA contributions, withdrawal or refund transactions in the previous month.
  4. Note: One application form is to be submitted for each specific withdrawal. Please indicate in the application form the usage category and exact amount to be withdrawn. Each application form has to be submitted together with a note/letter from yourself indicating the purpose of your request. For payment of enrichment programmes, please submit supporting documents indicating the name and the cost of the approved programme (i.e. a letter from your school/SIT’s office in charge of the programme and must reflect the fees for the programme).
  5. You may check with MOE (2 weeks after the submission of your application form) on the amount of funds withdrawn from your PSEA account.

*Please ensure that the correct hardcopy form is filled with no cancellations or usage of correction tape/fluid.

PSEA Standing Order Form can be downloaded HERE

PSEA Termination of Standing Order Form can be downloaded HERE

The Ad-Hoc Withdrawal Application form for AY2017 can be downloaded HERE.

Termination of an existing Standing Order:

Students with an existing Standing Order from Polytechnic will need to fill up the “Termination of Standing Order for Withdrawal from Post Secondary Education Account” form and submit it at the following address if you do not wish to continue using it in at SIT.

Attn: PSEA Action Officer
Ministry of Education
Finance & Development Division
Level 8, 1 Buona Vista Drive
Singapore 138675
 

Usage of PSEA for Repayment of Approved Loan Schemes: 

PSEA holders may utilise the funds remaining in their respective PSEA to repay an approved loan scheme after successful graduation from the programme, ie. 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.

The Loan Repayment Application Form is also available here. Students are strongly encouraged to understand the rules of usage of the PSEA prior to submission of the form.