Interest Free Study Loan

SIET interest free study loan is granted to deserving students who are aspiring to attain their tertiary qualification or working adults aspiring to upgrade themselves within their respective employment sector.

Eligibility

  • Singapore Citizens or Permanent Residents of Indian descent/other South Asian origin (Sri Lanka, Pakistan, Bangladesh, Nepal).
  • Have gained admission for a full-time/part-time Diploma/Degree programme at any government or government-aided institution or a private Edutrust-accredited institution operating locally.
  • Per Capita Income (PCI) of $1,600 per month or less (PCI is the total monthly nett combined income of all family members, divided by the total number of family members in the same household).
  • Must provide two sureties and they must meet the following:
    • Singapore Citizen/ Singapore Permanent Resident.
    • Aged 21-55.
    • Monthly income of at least $2,000 and above, and not an undischarged bankrupt.
    • Only 1 surety can be a family member, 2nd surety should be a relative or friend.
  • Must apply for financial assistance from your school or other institutions before applying for the SIET interest-free study loan.
  • Must provide a funding plan showing how they will fund their course, including any bursaries, scholarships, or loans they have secured.
  • Must submit a detailed write-up outlining their educational goals, career objectives, personal motivation, and how the SIET loan will support them in achieving their aspirations.

Loan Quantums

  • Diploma Programme – Up to $18,000
  • Degree Programme – Up to $30,000

Loan amount to be disbursed is at the discretion of the management committee, taking into consideration the applicant’s circumstances. The management committee’s decision will be final.

Repayment of Loan

  • Full-Time Programme: Repayment commences 6 months after graduation.
  • Part-Time Programme: Repayment commences 3 months after the study loan disbursement.

All applicants are required to attend a panel interview. The decision of the panel is final.

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