How does the MOE Tuition Fee Loan work? - Seedly

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Asked by Anonymous

Asked 4w ago

How does the MOE Tuition Fee Loan work?

If I have a total tuition fee of let's say 32k and I take the 90% loan, do I receive the full amount loaned in cash? Or does the bank just pay off the tuition fee anually for me? I've read that you can pay off the loan using your PSEA but in the event that your PSEA doesn't have enough can you also use your siblings PSEA balance to pay, just like if you had paid your tuition fees without a loan?

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Zen Rogue Xuan
Zen Rogue Xuan

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Level 5. Genius
Updated 3w ago

Hi OP,

The bank will liaise with the school directly. What happens is that the school will issue you with the school bill, which would reflect that the bank will pay for 90% of your school fees - the remainder would most likely be covered by the bursary. Yes, PSEA can be used to pay off your school fees, and indeed you can tap on your siblings' PSEA. I would advocate for PSEA to be used for the last semester as it would earn a 2.5% interest annually, whereas the Tuition Fee Loan is 0%.

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Zen Rogue Xuan
Zen Rogue Xuan

3w ago

Most should qualify. Check your school's website under financial aid for details. PSEA can be used to pay off loan as per http://www.ntu.edu.sg/NSS/NSSFinance/FinancialAssistance/Pages/faq-psea.aspx
Question Poster

3w ago

Alright, thank you for the information!