International Student Loans in Singapore for 2025

International students pursuing education in Singapore often encounter fewer local student loan options compared to Singaporean citizens or Permanent Residents (PRs). Unless you are an eligible noncitizen who can qualify for government-backed education schemes, you will likely need to explore private education loans.

Below, you'll find a breakdown of study loan options from local financial institutions, along with guidance on eligibility for alternative financial aid programmes available to international students in Singapore.

• Interest rate: 3M SORA + 1.5 percentage points (variable, updated half-yearly)

• Maximum loan amount: Up to 25% of subsidised tuition fees + annual living allowance (S$2,000 for Polytechnic, S$3,600 for University/NIE)

• Loan tenure: Up to 20 years (University), up to 5 years (Polytechnic)

Overview:

The DBS Study Loan provides financial assistance for students in MOE-recognised tertiary institutions in Singapore, with interest commencing post-graduation.

Pros: 

• Zero interest during the course of study.

• Flexible repayment options, starting from S$100 per month.

• Covers a portion of tuition fees and provides an annual living allowance.

Cons: 

• Interest rate is variable and subject to change.

• Loan quantum is limited to a percentage of subsidised tuition fees.

Qualifications: 

• Student must be enrolled in an MOE-recognised tertiary institution.

• Guarantor required, between 21 and 60 years old, and not bankrupt.

• For Polytechnic students: Guarantor must be a Singapore Citizen or Permanent Resident (PR).

• For University students: Guarantor can be a Singapore Citizen, Permanent Resident (PR), or a foreigner residing in Singapore.

• If the guarantor is a foreigner residing outside Singapore, digital application is not possible.

Available term lengths:

• Up to 20 years for University students.

• Up to 5 years for Polytechnic students.

Disclaimer:

Loan terms and conditions are subject to DBS Bank's approval. Interest rates are variable and updated half-yearly. Eligibility and loan amounts are determined based on the institution's guidelines and the applicant's financial situation. This loan is primarily designed for students with a Singaporean Citizen or PR guarantor. International students should verify eligibility and guarantor requirements with DBS directly.

• Interest rate: 3M SORA + 1.5 percentage points (variable, updated half-yearly)

• Maximum loan amount: Up to 90% of subsidised tuition fees (University), Up to 75% of subsidised tuition fees (Polytechnic)

• Loan tenure: Up to 20 years (University), Up to 10 years (Polytechnic)

Overview:

The DBS Tuition Fee Loan helps students cover a significant portion of their tuition fees at MOE-recognised tertiary institutions in Singapore, with interest commencing after graduation.

Pros: 

• Zero interest during the course of study.

• Covers a substantial portion of tuition fees.

• Flexible repayment options, starting from S$100 per month.

• Extended repayment periods available.

Cons: 

• Interest rate is variable and subject to change.

• Loan quantum is limited to a percentage of subsidised tuition fees.

Qualifications: 

• Student must be enrolled in a full-time subsidised course at an MOE-recognised tertiary institution.

• Guarantor required, between 21 and 60 years old, and not bankrupt.

• For Polytechnic students: Guarantor must be a Singapore Citizen or Permanent Resident (PR).

• For University students: Guarantor can be a Singapore Citizen, Permanent Resident (PR), or a foreigner residing in Singapore.

• If the guarantor is a foreigner residing outside Singapore, digital application is not possible.

Available term lengths:

• Up to 20 years for University students.

• Up to 10 years for Polytechnic students.

Disclaimer:

Loan terms and conditions are subject to DBS Bank's approval. Interest rates are variable and updated half-yearly. Eligibility and loan amounts are determined based on the institution's guidelines and the applicant's financial situation. This loan is primarily designed for students with a Singaporean Citizen or PR guarantor. International students should verify eligibility and guarantor requirements with DBS directly.

• Interest rate: MOE interest rates (Variable, revised half-yearly)

• Maximum loan amount: Up to 90% of tuition fees

• Loan tenure: Repayment commences post-graduation

Overview: 

The OCBC Tuition Fee Loan, administered by OCBC and provided by the MOE, funds up to 90% of tuition fees for eligible students, with interest accruing only after graduation.

Pros: 

• Funds up to 90% of tuition fees.

• Interest charges commence only after graduation.

• Minimum monthly repayment of S$100.

Cons: 

• Not available for international students paying full fees.

• Requires a Singaporean guarantor (for Singaporean students) or a guarantor of any nationality (for foreign students).

• Eligibility is restrictive.

• MOE Interest rates are variable.

Qualifications: 

• Full-time undergraduate and postgraduate students at NUS/NTU/SMU (selected programmes).

• NIE students in specific full-time research or subsidised coursework programmes.

• Guarantor aged 21-60, not bankrupt.

• Specific nationality requirements for guarantors (depending on student's nationality).

Available term lengths:

• Repayment begins post-graduation, with monthly instalments.

Disclaimer: 

Loan eligibility and interest rates are subject to OCBC's and the Ministry of Education's (MOE) discretion. The information provided is based on current guidelines and may be subject to change. International students should verify programme eligibility and guarantor requirements with OCBC directly.

Want to compare more options? Check out personal loans for foreigners and expats in Singapore.

For international students pursuing their studies in Singapore, private education loans are a common avenue to fund their academic journey. 

These loans often come with specific requirements, including the need for a co-signer. We'll also examine alternative financing options.

>> More: Guide to refinancing student loans in Singapore

To qualify for a private education loan, a co-signer, typically a Singaporean citizen or Permanent Resident (PR), is usually required. This co-signer must demonstrate a stable income and a strong credit history.

Potential co-signers can include family members residing in Singapore, university faculty members, or trusted mentors who meet the eligibility criteria.

It's crucial to understand that the co-signer is legally obligated to repay the loan if the primary borrower defaults.

While co-signers are often necessary, some financial institutions in Singapore may consider alternative factors when evaluating loan applications. These factors could include:

• The applicant's academic achievements and chosen programme of study.

• The applicant's potential career prospects and projected earnings post-graduation.

• Availability of financial aid through government or university programmes.

• Exploring education loan options from banks in the student's home country.

In Singapore, government-backed education financing schemes like the MOE Tuition Fee Loan and the CPF Education Scheme are exclusively available to Singaporean citizens and Permanent Residents (PRs). International students are not eligible for these schemes. However, they may explore the following options:

• Financial aid programmes offered directly by Singaporean universities.

• Private education loans provided by local banks.

Many universities in Singapore offer institutional financial aid and merit-based scholarships to international students. It is highly recommended that students contact their respective universities to inquire about available financial assistance programmes.

For most private education loans in Singapore, a co-signer who is a Singaporean citizen or PR is typically required. However, some lenders may consider alternative criteria in lieu of a co-signer, such as:

• The student's academic standing and chosen field of study.

• The student's potential future earnings and career prospects.

>> More: Best student loans in Singapore

Beyond traditional loans, international students in Singapore should explore various financial aid options to minimise their borrowing needs.

Before considering a loan, research scholarships, grants, and support programmes available to international students in Singapore. Begin by investigating funding opportunities offered by your home country's embassy or educational offices in Singapore. These may provide scholarships or grants specific to your nationality.

Additionally, explore scholarship databases and websites that list financial aid opportunities for international students in Singapore. Directly contact the universities or educational institutions you plan to attend to inquire about internal scholarships, grants, or financial aid programmes specifically designed for international students.

Consider seeking guidance from student advisory centres or international student support offices in Singapore. These resources can provide valuable information on navigating the financial aid process, visa requirements, and other relevant matters.

>> More: Best personal loans for foreigners in Singapore