MOE Study Loan: Who Qualifies and What You Get
Learn how the MOE Study Loan helps cover the remaining 10% of fees and living allowances for eligible students in Singapore.
The MOE Study Loan is a financial support program designed to help students manage their educational costs and daily living expenses while pursuing their studies.
Who it's for
This loan is specifically intended for students who meet specific financial criteria. To qualify, your gross monthly household income must be $2,700 or less. This limit is a key factor in determining whether the scheme is available to your family.
What you get
The loan provides financial relief by covering the remaining 10% of your fees. In addition to covering this portion of your fees, the scheme also provides a living allowance to help you manage your day-to-day costs throughout your studies.
What it costs you
While the loan provides funds, it is not a simple grant; it requires a guarantor to support the application. A guarantor is a person who agrees to take responsibility for the loan if you are unable to meet the repayment terms.
The catch to know
The most important thing to understand is that the income eligibility criteria are very strict. Eligibility is not just based on the total amount your household earns, but specifically on the household per capita income. This means the government looks at the total household income relative to the number of people living in your home to determine if you fall under the $2,700 threshold.
How to apply
- Calculate your household's per capita income to confirm you are within the $2,700 limit.
- Gather all necessary financial documents that prove your household's monthly income.
- Identify and contact a suitable guarantor who is willing to support your loan application.
- Follow the official submission process to finalize your application.