Advertisement

Anonymous

03 Jul 2021

∙

Can PSEA be used to pay Tuition Fee Loan right after graduation?

Matriculating into a local university soon.

Can I park my funds (full sum of tuition fees, >$30k) in PSEA, while I take a Tuition Fee Loan first? Then upon graduation, pay the loan in lump sum using PSEA while the excess funds (from interest) are moved to CPF OA.
This is to earn the 2.5% p.a. while ensuring capital guaranteed.

Based on MOE website (https://www.moe.gov.sg/financial-matters/psea/h...), under "Loans and approved financing scheme".

Thanks for reading!

1

Discussion (1)

What are your thoughts?

Learn how to style your text

Benny

03 Jul 2021

Nope, it does not work like the CPF Education Loan Scheme.

You will be required to pay the course fees first. When the funds have flowed in from PSEA, the school will issue a cheque to you. This process will take about 2-3 months. You may want to contact the school for further information.

Reply

Save

Write your thoughts

Related Posts

With sufficient savings, will it be better to pay for University tuition fees using cash instead of using balance from my PSEA account (which unused will be credited into CPF)?

I graduated from uni 2 years ago. I took a tuition fee loan from a bank. Can I use my CPF to repay the loan now?

Should I be using my PSEA funds for the payment of my university tuition fees, or should I make use of the interest free loans?

What to invest in with the money set to pay for uni assuming I took a tuition fee loan and I Wan to make use of the 0% interest when studying. Length of study is 3 years?

I manage to save up $25k and will be taking my degree, should i: 1. use it to pay tuition fees? 2. take up student loan (with interest that adds up) and invest this money instead (like REITs/ETFs etc)?

Related Posts

With sufficient savings, will it be better to pay for University tuition fees using cash instead of using balance from my PSEA account (which unused will be credited into CPF)?

I graduated from uni 2 years ago. I took a tuition fee loan from a bank. Can I use my CPF to repay the loan now?

Should I be using my PSEA funds for the payment of my university tuition fees, or should I make use of the interest free loans?

What to invest in with the money set to pay for uni assuming I took a tuition fee loan and I Wan to make use of the 0% interest when studying. Length of study is 3 years?

I manage to save up $25k and will be taking my degree, should i: 1. use it to pay tuition fees? 2. take up student loan (with interest that adds up) and invest this money instead (like REITs/ETFs etc)?

Advertisement