Anonymous
Anyone tried partial repayment of DBS tuition loan before?
I am currently about $30k in debt for tuition loan, in my final year now. Will end school around Apr 2019. I have some cash on hand, probably about half to pay off the student loan. I'm wondering will the interest rate still be applicable for the first half of the payment that I've made? Or just the remaining payment?
I'm thinking what are the odds of me being able to pay off the debt, interest free. I currently have a side income of about 1k a month. Any advice will be appreciated, thank you!
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Jim Ng
07 Jun 2019
Marketing Strategist at https://www.bestseo.sg
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Gabriel
10 Nov 2018
Undergraduate at National University of Singapore
Yes you can pay off the first half without incurring interest so long as you have not graduated yet since the interest only kicks in upon you graduate. In fact, try to clear off your student loan as soon as possible especially upon graduation so as to reduce the amount of interest payable.
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Hi, you can repay part of the loan as stated in the contract of the tuition loan.
The accrued interest will only apply on the remaining balance of the loan.
You can read more about the different modes of payment here:
https://www.dbs.com.sg/personal/loans/personal-...