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)?

Question

Isabella Jo · Accepted Answer

I will utilize the balance in PSEA and only use cash to pay off the remaining amount.

Gabriel Tan Jun Wei · Answer

Hi there

Just use your PSEA account! Like Gabriel has mentioned, amount left in PSEA would definitely not be sufficient pay for your fees - it'll only offset a certain amount.

All the best!

Yeap Ming Feng · Answer

In my opinion, using of PSEA will be the way to go. There shouldn't be much anyway, but it can help offset a bit of those university fees. It will be credited into your CPF anyway, which means it lacks liquidity.

I believe since you are still clearing debts, it means graduation was not too long ago. Hence, having liquid savings as your emergency helps!

All the best clearing those tuition fees!

Gabriel Tham · Answer

Just use the PSEA account as much as possible. The unused amount will only be credited to CPF at 30 years old. But I would think that the PSEA will not have much left to pay much tuition fees. Mine personally was just a few cents left, after all the school activities, excursions etc.

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)?

Answers (4)