Tuition Fee Loan

Tuition Fee Loan

Note - Suspension of repayment of Tuition Fee Loan from 1 June 2020 - 31 May 2021

  1. MOE will suspend the repayment and interest for TFL, SL and OSPL for all university and polytechnic graduates for one year from 1 June 2020 to 31 May 2021. This measure is part of the Government’s second economic stimulation package in response to the COVID-19 situation as announced on 26 March 2020.
  2. The repayment and interest suspension will take effect from 1 June 2020 to 31 May 2021. During this period, all loan repayments due will be suspended and no interest (standard or penalty interest) will be levied on any outstanding loan. However, those who wish to continue repaying their loans can still do so by informing the institutions and their agent banks.
  3. Please refer HERE for the FAQ on this matter.

AY2020 Application Period: 01 June to 07 July 2020

How to Apply (Full-time Undergraduate and Postgraduate Students Only)

  • Students are to submit an application for the Tuition Fee Loan by logging in to IN4SIT to submit an online application and generate the Loan Agreement Form and Letter of Late Endorsement (applicable for late applications only). The System User Guide for Undergraduate students can be found here
  • Students are to present a copy of the SIT Letter of Offer (new students) or Student Matriculation Card (current students) in addition to the Letter of Late Endorsement and the completed loan application form when applying at any DBS Bank Branch. 
  • Students will only need to apply for this loan once for the duration of the their respective degree programme at SIT. Successfully activated TFL will only commence from subsequent billing cycles. 

Eligibility Criteria:

  1. Singapore Citizens (SC) and Singapore Permanent Residents (PR) who are full-time students at SIT.
  2. International Students (IS) receiving the MOE Tuition Grant are eligible to apply.
    **International students paying non-subsidised tuition fees are not eligible to apply for the Tuition Fee Loan.
  3. Singapore Citizens and Singapore Permanent Residents with non-accredited diplomas or A-level certification who are pursuing their undergraduate degrees and are required to take bridging/top-up modules.

Quantum of Loan: 

  • For Eligibility Criteria No. 1 & 2: Loan covers up to 90% of subsidised fees payable by Singapore Citizens.
  • For Eligibility Criteria No. 3: Loan covers 22.5% of the unsubsidised fees for bridging / top up modules.
    (E.g. If unsubsidised fee is S$100; Maximum Loan Quantum = S$100 x 22.5% = S$22.50)
**Note: Loan quantum does not cover Annual Fees and Incidental Fees. The total loan amount from Tuition Fee Loan and SIT Study Loan should not exceed 100% of subsidised fees payable by SCs.

Administration of Loan:

DBS Bank will be handling the administration and disbursement of all Tuition Fee Loan and Study Loan Schemes at SIT.


Guarantor Requirements:

  • Loan application must include one guarantor between 21 – 60 years of age:
    • Must not be an undischarged bankrupt
    • No income qualification required
    • Must not be an existing guarantor for more than two (2) students' loans concurrently
    • Nationality of guarantor:
      1. SC guarantor for SC applicant;
      2. SC or PR guarantor for PR applicant;
      3. SC, PR or foreigner for IS applicant.

Loan Interest: 

  • Interest rate will be based on the average of the prevailing prime rate of Singapore's 3 local banks namely DBS, OCBC and UOB on the first day of each quarter or such other rates as may be determined from time to time.
  • Interest will start accruing on the 1st day of the 4th month following graduation / withdrawal. For graduates / withdrawn students with remaining National Service (NS) obligations, the same interest commencement date will apply.
  • Example of interest commencement date: If you have graduated in June, interest will commence on 1st October of the same year. If you have graduated in December, interest will commence on 1st April of the following year.

Repayment of Loan: 

  • Repayment of loan can be in one lump sum or by equal monthly instalments commencing no later than two years from the date of graduation or upon securing employment, whichever is earlier.
  • The minimum sum of repayment is S$100 per month and the maximum repayment period is 20 years.
  • In the event that the student withdraws from SIT without completing the programme of study, the loan outstanding will immediately become due and payable.

Bank Late Payment Charges:

Penalty interest will be levied at the rate of 1% per month on instalments in arrears.


Usage of PSEA for Repayment of Approved Loan Schemes: 

  • PSEA holders may utilise the funds remaining in their respective PSEA to repay the TFL after successful graduation from the programme, i.e. 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. 


Terms and conditions apply, please refer to the DBS website for more information. 
Please refer to the Financial Assistance page to view all application periods. 
Further Enquiries:
Admissions Division ( Tel: 6592 1136
Bank: DBS Bank Ltd Tel: 6333 0033