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

  • Enrolled in a full time/part time Diploma or Degree programme.
  • Singapore Citizen or Permanent Resident of Indian and others of South Asian origin (Sri Lankan, Pakistan, Bangladesh, Nepal)
  • Student and/or family currently contributing to SINDA
  • Per-capita household NETT income (PCI) of $1,000 per month or less**
  • Currently receiving or have applied for other financial assistance prior to applying with SIET
  • Provide 2 sureties with annual income of minimum $24,000; ($2,000/month)

** PCI is nett income of all family members, divided by the total number of family members in the same household.

Quantum & Repayment

  • Diploma Courses – Up to $5,000 per academic year repayable in interest-free monthly instalments. Maximum $10,000.
  • Degree Courses – Up to $8,000 per academic year repayable in interest-free monthly instalments. Maximum $24,000.

Estimated monthly instalments will be based on student’s financial circumstances

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

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