Studying is viewed as an indispensable stepping stone towards a secured career and stable financial status. Many will grab the chance just to get a diploma, however, not everybody can afford the tuition fees. Here are some ways to get your university education paid.
A lot of banks and moneylenders offer student loans. These loans have various terms depending on the financial institution you choose. Most of these vary with the interest rates and what they call the grace period since student loans are expected to be paid after leaving or finishing school. These loans are also expected to paid in a year or more after the repayments started. Grace period is the length of time when the students have to start paying after leaving school or graduating.
While some financial institutions give six months, others are willing to give a year for students to get jobs. What if you haven’t got a job when you have to pay your first repayments? Do not hesitate to give your Singapore moneylender a call, because most probably you repayment scheme will be adjusted.
Institution’s Financial Aid
Different scholarships have various criteria and requirements.
- Howe Yoon Chong PSA Scholarships
There are no specific course restrictions but it should be acknowledged by MOE tuition grant subsidy. If you are interested for this scholarship, you be enrolled in local universities such as SIM and Singapore Institute of Technology, the various polytechnics and ITEs.
There is no amount specified on the scholarship as the courses have different costs, yet it is clear that the scholarship will cover the tuition fees, additional compulsory fees, living allowance and book allowance. This scholarship are for students with household income of not more than $750 a month, with grade not lower than B, good entrepreneurial skills, innovative contributions in science and technology, leadership skills, and active community involvement.
- MENDAKI Scholarship
The MENDAKI Scholarship (Univesity) is for Muslims who are Singaporeans and preferably under the course related to Medicine, Health & Life Sciences, Multimedia Design, and Engineering. it supports students in:
- National University of Singapore
- Nanyang Technological University
- Singapore Management University
- Singapore Institute of Technology
- Singapore University of Technology and Design
- Singapore Institute of Management
If you are interested, you must have 5 distinctions in GCE ‘O’ level examination and 3 in the GCE ‘A’ level examination. The minimum aggregate points for International Baccalaureate Diploma must be 37. You must have participated in co-curricular activities (CCA), and if you are a male, you should have first completed your National Service. The $4000 grant is given yearly to those who are able to keep up satisfactory performance.
- LBKM (Lembaga Biasiswa Kenangan Maulud) Bursary
Despite being a scholarship grant to pay tribute to Prophet Muhammad, this grant is for students of any race and religion who are aspiring to study in both local or overseas universities, JC and polytechnics.
This Prophet Muhammad’s Birthday Memorial Scholarship Fund has been granted to students since 1966. Students for Junior Certs receive $500, those striving for a diploma get $800, and a total amount of $1,800 are given to each undergrad in local universities. The amount of bursaries may change depending on the curses taken, though postgraduates and overseas students get larger amounts. The grant also supports part-time degree students and gives $1,200 for each. Applicants must have a household income of not exceeding $1.800 and must not have any other grant or scholarship.
- Singapore Buddhist Lodge Education Foundation Bursary
Though it is a grant from the Buddhists, this scholarship is given regardless of race and religion. This is for those who are interested to study in local universities, JCs, ITEs and polytechnics regardless of the chosen course. The amount usually depends on the school, though usually it is about $1,000 and $1,200 a year,
- AMP Education Bursary
Association of Muslim Professionals is a grant for all races as long as they are willing to study in the local universities, ITEs and polytechnics. The students can take any course they want. While the diploma students receive $500, the degree students can get $1000. The students must not have a household income of higher than $3500 a month. Part time student below age 40 are welcome to apply. There is no required bond, but scholars are requested to do a community work of 90 days.
MOE teaching scholarship
This scholarship is given to Singapore citizens or Singapore Permanent Residents with good character, strong leadership qualities, excellent (CCA) records, outstanding interpersonal, communication skills and with GCE ‘A’ levels.
CPF Education Scheme
The Ordinary Account (OA) savings of your own, parents or spouse can be used to subsidize your tuition fees. In case you are going to use you siblings or other relative’s OA, the improvement will defend on the assessment.
Sign Up as an SAF Regular
If you are interested to serve in SAF, then you can hit two birds in one stone. The SAF will fund your tertiary studies and you will even get an allowance of about $2,000 a month. You are required to serve for 6 years as a bond, however if you have served the National service for 2 years, this will be deducted from the bond.
If you are in need of instant cash loans with short term periods to pay for your studies now, you should start your loan process in Cash Mart. visit Cash Mart’s website to know why its loans are the ones that can best fit your needs.
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