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We screen every lending partner before they join the platform. If an offer reaches you, the lender behind it is licensed and has been checked.
When a study loan is not enough
Student Loan Singapore: Financing for Tuition, Fees and Study Costs
Credible.sg is a loan-matching platform, not a lender or MOE. If you need financing beyond what an MOE Tuition Fee Loan or bank study loan covers, such as living expenses, an overseas exchange, or a self-funded course, licensed lenders on Credible.sg can help you compare offers.
- Government and bank study loans cover eligible full-time diplomas and degrees; not every course or cost qualifies
- Compare personal loan offers from licensed lenders for the gap: fees, accommodation, exchange programmes, or short courses
- Applying is free, takes about five minutes, and you are never obligated to accept an offer
Photo for illustration purposes only.
S$1k–100k typical loan range
100% licensed lending partners
< 5 min to complete one application
S$0 cost to compare offers
How it works
From one application to money in hand
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Check what MOE or your bank already covers
The MOE Tuition Fee Loan and bank study loans cover eligible full-time diploma and degree tuition. Confirm what is and is not included before you look elsewhere.
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Work out the actual gap
Living expenses, overseas exchange costs, part-time or short courses, and non-eligible programmes usually fall outside a study loan.
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Compare licensed lenders for the gap
Apply once on Credible.sg and get matched with licensed lending partners whose criteria fit your, or your guarantor’s, profile.
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Compare offers and choose
Review interest rates, fees, and repayment schedules side by side before you accept anything.
Plan before you borrow
Estimate your monthly repayments
Move the sliders to get a feel for what a loan would cost each month. The calculator tops out at 4% a month because that is the legal cap for licensed moneylenders in Singapore. Your actual offers will state their exact rates and fees.
Get real offers insteadGet A Credible Loan
Estimated Monthly Payment SGD 337
What study financing actually costs
Government loans, bank study loans, and personal loans compared
Government-backed and bank study loans are the cheapest way to fund eligible tuition, but they are narrow in scope. A personal loan is more flexible and more expensive, and works best for the costs a study loan does not touch.
| Financing type | Typical rate | Covers | Best suited for |
|---|---|---|---|
| MOE Tuition Fee Loan | Subsidised, low fixed rate set by MOE | Up to 90% of subsidised tuition fees at eligible institutions | Singapore Citizens and PRs on eligible full-time diploma or degree programmes |
| Bank study loan | Around 4.5%–5.5% p.a., often with a moratorium during study | Tuition and sometimes a living allowance, up to a set cap | Students at approved local or overseas institutions who meet the bank’s income or guarantor criteria |
| Personal loan (licensed lender) | Up to 4% per month, capped by law | Anything: fees, accommodation, exchange programmes, short courses | Costs that fall outside a study loan, or when you need funds quickly |
These figures are examples, not an offer. MOE and bank study loan rates, caps, and eligible institutions are set by MOE and individual banks and change periodically. Licensed moneylenders are capped by law at 4% interest per month, 4% late interest per month, an admin fee of up to 10% of the principal, and late fees of up to S$60 a month, with total charges never exceeding the amount borrowed. Confirm current study loan terms with MOE or your bank, and check any moneylender on the Ministry of Law registry before signing.
Who can apply, and what you will need
You can apply if you are…
- At least 21 years old to apply directly; younger applicants typically need a guarantor, such as a parent
- Singapore Citizen, Permanent Resident, or a foreigner holding a valid pass
- Proof of enrolment or an offer letter from your institution, if the loan is for study-related costs
Documents to have ready
- NRIC or passport, and your guarantor’s NRIC if applicable
- Proof of enrolment, offer letter, or tuition invoice
- Recent payslips, CPF contribution statements, or a guarantor’s income documents
- Proof of residential address
Why Credible.sg
Borrowing, with the guesswork removed
One application, multiple offers
No need to apply to lenders one by one and repeat the same paperwork each time. Apply once and let the offers come to you.
Flexible enough for the gap MOE misses
Living costs, exchange programmes, and self-funded courses rarely fit inside a government or bank study loan. A personal loan can.
What government and bank study loans actually cover
The MOE Tuition Fee Loan covers up to 90% of subsidised tuition fees for eligible full-time diploma and degree programmes at institutions like the polytechnics, ITE, and the autonomous universities. Repayment typically starts after graduation, and the subsidised rate is set by MOE.
Bank study loans extend further, often covering local or overseas universities outside the government scheme, and sometimes a living allowance up to a cap. Most require a guarantor and assess income the same way a personal loan would, and interest can still accrue during any moratorium period even if repayment is deferred.
What falls outside a study loan
Living expenses and rent while studying overseas, part-time or short professional courses, certifications, and programmes at institutions outside the eligible list commonly fall outside both the MOE loan and most bank study loans.
Students who do not meet a bank’s income or guarantor criteria are also left without that option, even for an otherwise eligible course. In either case, a personal loan from a licensed lender can bridge the specific gap rather than fund the whole cost of study.
Using a personal loan responsibly for study costs
Compare the effective interest rate (EIR), not the advertised flat rate, and borrow only the actual gap rather than rounding up the whole course cost. A personal loan works best as a bridge for a specific shortfall, not as your primary source of education funding.
Align your repayment tenure with when your income is likely to start, typically after graduation, and avoid taking on a moneylender loan that requires income you do not yet have while still studying full-time.
Common questions
Student Loan FAQs
Still unsure about something? Message us on WhatsApp and a real person will walk you through it.
Does the MOE Tuition Fee Loan cover all my school fees?
No. It covers up to 90% of subsidised tuition fees at eligible institutions and programmes. The remaining 10%, plus non-tuition costs like living expenses, are out of pocket.
Can I get a personal loan for a private diploma or short course?
Yes, if it does not qualify for an MOE or bank study loan. Licensed lenders on Credible.sg assess your application based on your, or your guarantor’s, income and ability to repay.
Do I need a guarantor to apply?
If you are under 21 or do not have independent income, most lenders will require a guarantor, typically a parent, to co-sign the application.
Can a personal loan cover living expenses while studying overseas?
Yes, this is a common use case, since bank study loans usually do not cover the full cost of living abroad. Compare offers to see how much you can borrow toward that gap.
When should I start repaying a personal loan taken for study costs?
Personal loan repayment usually starts the month after disbursement, unlike a study loan, which often has a moratorium during your course. Factor this into your budget before you borrow.
Is it safe and legal to apply through Credible.sg?
Yes. Credible.sg is a loan-matching platform run by Simple Stack Pte Ltd. We are not a lender ourselves. The financing always comes from licensed lending partners that we have vetted. Applying is free, and you never have to accept an offer.
Learn with Credible
Guides to read before you borrow
Personal Loan Singapore: Compare Offers From Licensed Lenders
Read the guide →Best Personal Loan Rates in Singapore: Compare and Choose
Read the guide →Financial Planning in Singapore: CPF, SRS and Where to Start
Read the guide →Understanding Your Credit Score in Singapore: CBS Explained
Read the guide →Loan Terms Explained: A Singaporean’s Guide to Financial Jargon
Read the guide →Browse by topic
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Need to bridge a study cost gap?
MOE and bank study loans do not cover everything. One free application puts offers from licensed lenders in front of you, with no obligation to accept any of them.
