Why Trust MoneySmart?International students in Singapore have different education loan options compared to locals. Here’s what you need to know about government-backed and private bank loans.
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Government-backed loans (MOE)
MOE Tuition Fee Loan (TFL):
Available to eligible international students enrolled full-time in subsidised courses at Singapore’s autonomous universities (NUS, NTU, SMU, SUTD, SIT, SUSS) or polytechnics.
Coverage is capped at up to 90% of the subsidised tuition fees payable by Singapore Citizens. As international tuition fees are higher, the loan will not fully cover your total tuition.
Loan is administered through local banks such as DBS and OCBC.
Note: The TFL will be replaced by the Higher Education Student Loan (HESL) from 1 Jul 2026.
Learn more about the MOE Tuition Fee Loan.
MOE Study Loan:
Offered as a top-up for the remaining fees not covered by TFL, and can include a small living allowance (e.g., up to $2,000/year for polytechnic students), subject to strict means-tested criteria (e.g., gross monthly household per capita income of $2,700 or less).
Only available after the TFL has been maximised.
Learn more: about the MOE Study Loan.
Important: These government schemes apply only to subsidised full-time courses. Processing and eligibility are tied to the host university or polytechnic’s internal policies.
Private bank education loans
Some private banks in Singapore offer education loans to international students, both for local and overseas study.
These loans are often positioned as accessible or flexible for foreigners and may support a wide range of institutions.
Repayment models typically include:
Standard repayment: Principal and interest payable from loan start.
Interest-only / graduated options: Pay only interest while studying, with principal repayment starting after graduation.
Approval and the loan terms depend on the bank’s internal policy, your credit profile, course, and institution.
Loan amounts, interest rates, and guarantor requirements vary—review details with each participating bank.
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Key requirements
Guarantor: Essential for almost all loans available to international students.
Some banks accept a guarantor of any nationality, while many require a Singapore Citizen or Permanent Resident as guarantor.
MOE Tuition Grant: Many government loans require you to accept a Tuition Grant. This commits you to work in Singapore for 3 years after graduation for Permanent Residents and International students.
Transition to HESL: From 1 Jul 2026, the new Higher Education Student Loan (HESL) scheme will replace the current MOE loan programmes, so future conditions may differ.
Other considerations:
The institution you plan to attend, your ability to find a qualifying local guarantor, and whether you have received an MOE Tuition Grant are vital in determining your options.
