4 Types of Financial Aids for Defraying Tuition Fees in Singapore

Calculating Money

There’s absolutely a lot of concerns a student has to deal with while in college.

Among the most common are the extensive fees, especially tuition fees. Some students resort to getting a part-time job to sustain their needs in a university while others rely on financial aids to pursue their respective courses.

Help me

Do you know the existence of the various forms of financial assistance? Are you among the students qualified to receive a financial assistance? Check out the following options before you give your application a go:

1. Bursaries

Bursaries are financial aids given by MOE and administered by your respective school. The amount is not humongous but bursaries are non-repayable and come with no obligations at all! You can also apply for it every year as long as you meet the requirements! The size of bursary that a student receives will depend on his or her residential household income.

Based on MOE statement on their Financial Assistance and Bursary Scheme, a student is only eligible for bursaries if she or he has a Per Capita Income (PCI) not exceeding $1900 per month. PCI is simply the aggregated income of all your family members divided by the number of family members. The actual criterion varies based on the school you are in and the type of bursary you are applying for.

Application is a breeze. For most schools, you just have to login to your student account and within a few clicks, you are set. Of course, don’t forget to ask for your family members’ proof of income in form of a CPF or income tax statement, to be submitted to the school. Several thousands of students have already successfully tapped on this scheme to subsidize part of their tuition fees.

Calculating Money

NTU Students: Check out NTU available bursaries and application —HERE.

SMU Students: Check your bursary qualifications and application–HERE.

NUS Students: For bursary financial aid– CLICK HERE.

SUTD Students: For eligibility and application–CLICK HERE.

UniSIM Students: To avail for the application–CLICK HERE.

2. Scholarships

Similar to bursaries, scholarship grants do not have to be repaid, but it usually comes with obligation depending on the organization awarding the grant. A scholarship from a corporate organization will require you to work for them for a couple of years upon graduation while a scholarship from a school may entail taking up the job of ambassador to promote the university. Scholarships are provided by a long list of government, college and even independent third party organizations to selected students. The selection of scholarship holders is based on merit, by looking at either academic or CCA achievements. It usually covers the entire tuition fees, along with allowances for various expenditures you incur throughout the course of university.

If you are contemplating to apply for scholarship be sure to check out our scholarship guide for tips and tricks you never knew exist.

NTU Students: For list of freshmen scholarships – CLICK HERE. For current undergraduates, you may check available scholarships and eligibility HERE.

SMU Students: For list of available scholarships for both freshmen and current students, CLICK HERE. Note: Click scholarship name for eligibility or qualification.

NUS Students: See the list of scholarships offered in your university HERE.

SUTD Students: See the list of available scholarships offered HERE. Note: Click scholarship name for eligibility and terms and conditions.

UniSIM Students: To apply for SIM University Scholarship, you need to submit your application online by the stipulated closing date.  To apply for the SIM University Scholarship, click HERE.

3. Study Loan

If you fall short of the criteria of the earlier 2 financial aids, fret not. You can always fall back on a loan which is certainly more inclusive. A study loan is designed to help students pay for university tuition, books and living expenses. It somewhat differs from the other kinds of loans with its lower interest rates and extended repayment schedule to help students until college completion.

NTU Students: For eligibility, requirements, application and repayment method – CLICK HERE.

SMU Students: Check your university tuition fee financing loan schemes HERE.

NUS Students: Application, eligibility, repayment and requirement can be found HERE

SUTD Students: The university study loan scheme is available HERE. For application procedures, CLICK HERE.

UniSIM Students: To check for the requirements, eligibilty and application method CLICK HERE.

4. Tuition Grant.

According to TG Online, a portal managed by Singapore MOE, tuition grant was introduced in Singapore in 1980 to fund the cost of tertiary education in the country. It is a special scheme open to students enrolled in full-time diploma or undergraduate students to 13 colleges including Nanyang Technological University, Singapore Institute of Technology, Singapore Management University and Singapore University of Technology and Design.

Successful applicants are granted financial aid from government to pay a portion of the college tuition fee up to a maximum of 4 years. Grantees (Singapore permanent residents and non-Singaporean students) are obliged to sign a Tuition Grant agreement as their bond to render service to the country for 3 years after college completion.
Financial Aid

For most students, the tuition fees reflected on websites of all universities already takes into account the tuition grant. Click here to find out the tuition fee before/after tuition grant for all universities in AY2014/15.

NTU Students: CLICK HERE for eligibility, application and agreement on tuition grant in your university.

SMU Students: CLICK HERE to lean about the tuition grant scheme and application in your university.

NUS Students: CLICK HERE for Frequently Asked Questions on NUS tuition grant.

SUTD Students: CLICK HERE for eligibility and application on tuition grant in your university.

UniSIM Students: CLICK HERE for eligibility and application on tuition grant in your university.

With the various financial aids available, tertiary schooling in Singapore is certainly very accessible to anyone who wishes to pursue world class education in this little red dot. With your financial concerns allayed, you can now focus on achieving your highest potential as a student and maximizing your university life!

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