Apply for the Best Student Loans in Singapore

Student loans are offered by banks or financial institutions to help you with your tuition fee or any other expenses. Banks usually offer secured loans which requires collateral (such as a house or car) while others offer unsecured loans that do not require collateral.

Are you a fresh grad who is tight on cash but unsure of what to do?

Do you need cash urgently to get through this tough period but is afraid of getting unfair rates from financial institutions?

If you are reading this article, it means that you are concerned about your finances, which is good. Don’t get us wrong. We mean that you are a responsible person, planning for your finances and thinking of how to better your income. With monthly expenses to foot, you might have thought of getting a loan but is unsure of where to start. Perhaps, you just need some extra cash until your income rises in months to come. Or maybe you just need some extra cash to purchase a big-ticket item that you have been eyeing for months.

Your eyebrows might be furrowing right now as you recall the horror stories about loans and debts. How can loans be good? Shouldn’t we avoid them? What are the type of loans available and how can they help me?

We understand that thinking and planning for your finances is not easy. We all have bills to pay and responsibilities that fall upon us. It is especially tough for fresh grads as we step into this new phase of independence in life. There are just so many things to consider or pay for and your current income just don’t quite cover it.

To make things easier, we have come up with a list of questions and checklist just for you. This way, you will be able to determine if you truly need a loan, what kind of loan you should get and what is the best way to ensure that you attain the best rates.

“With Student Loan Care’s help, I am finally able to do animation and designing, something that I have always wanted to do!”

I always wanted to be part of an animation company like Lucasfilm Animation involving myself in stuff like the Star Wars. But due to circumstances, I studied accountancy. In order to pursue my dreams, I decided to look for financial help online and came across Student Loan Care. With their help, I managed to get a loan to further my studies and eventually get a job that I enjoy!
Wilson Toh
3D Animator and Motion Graphics Designer

What can we offer you?

Easy Application

No troublesome paperwork.

Low interest rates

Our rates are affordable for students.

Quick Approval

We will get back to you within 24 hours.

Securing your career

We want to help improve your studies and career.

Legal and reliable

We work with licensed moneylenders registered with the Ministry of Law.

Maintain your current lifestyle

Have the freedom to lead the lifestyle you want.

Flexible repayment plans

We offer flexible terms and customize a repayment plan just for you.

Guaranteed confidentiality

All your details will be safe with us.

How can a Personal Loan help me as a fresh grad?

Fresh grad personal loans can help you foot your bills, pay for your home repairs, get new furniture, new laptops, emergency situations or anything that you need funds for. You can also get a loan to go on a holiday with your friends or simply take a solo trip to relax. If you are interested in being an entrepreneur, then perhaps you can take a personal loan to start your own business.

For some of us, we are already on study loans or in credit card debts. You can also use personal loans for debt consolidation. Both banks and financial institutions offer debt consolidation plans where they help to combine and consolidate all of the borrower’s debts and offer a lower interest rate with monthly repayments. This means that you don’t have to put in that much effort to keep track of your loans and just make one monthly repayment.

Nonetheless, we strongly encourage you to only apply for loans that you truly need and to only get an amount that you are able to repay.

“ The truth is, no one really has it all figured out. But we can always try our best to make the fullest of our lives. What we can do is to get the right tools and help to make our lives better. ”

Singapore has one of the best education systems in the world and it is well-known that Singaporean parents spend thousands of dollars on their child’s education every year. Aside from the basic school fees, parents have to pay for the cost of study materials, stationaries and even extra tuition classes. Fees also increase as the child goes through primary school, secondary school, polytechnics and universities.

Singaporeans willingly spend huge amounts on education because we all know that it will be tough to secure a good job if one does not have a diploma or a degree. It won’t be easy to attain a good salary without the qualifications and being kiasu Singaporeans we don’t want to lose out. This was what encouraged many parents to send their children to diploma and degree courses despite the high tuition fees.

Here’s a breakdown of the average course fees of local and private universities in Singapore.

Local Schools

Average Total Tuition Fees

Name of SchoolAverage Total Tuition Fees
National University of Singapore (NUS)$27k
Nanyang Technological University of Singapore (NTU)$27k
Singapore Management University (SMU)$34k
Singapore University of Social Sciences (SUSS)$32k – $35k
Singapore Institute of Technology (SIT)$26k
Singapore University of Technology and Design (SUTD)$39k

Private Schools

Average Total Tuition Fees

Name of SchoolAverage Total Tuition Fees
Singapore Institute of Management (SIM)$28.5k – $77.5k
Management Development Institute of Singapore (MDIS)$20k – $39k
James Cook University Singapore (JCU)$54k – $60k
PSB Academy$41k – $48k
Nanyang Academy of Fine Arts (NAFA)$36k – $42k
Lasalle (College of the arts)$30k – $57k
Kaplan$18k – $35k

Education is expensive in Singapore.

Tertiary education requires thousands of dollars and sometimes it may be difficult to come up with the money for the fees or study programmes. Not only does one have to pay for the lessons, they have to include food expenses, transport, leisure and other expenses as well.

Stop frowning, we’ve got your back!

Student Loan Care understands how exasperating it can be when you don’t have enough funds to study or to live the lifestyle that you want. In other cases, we have seen students give up on their education because they were unable to afford the fees.

Student Loan Care, We care!

We aim to be all students’ partner and lend a helping hand by assisting with your finances. After evaluating the cost of education in Singapore, we have introduced a few products that may help you better your student life.

How much can I borrow? Is there a minimum or maximum amount?

Most banks and financial institutions in Singapore offer a loan of up to 10 times that of the borrower’s monthly salary, depending on individual profiles. 

The amount loaned depends on the borrower’s salary, risk profile and credit score. The higher the credit score, more reliable your profile is, and these increases the success rate of you getting a larger loan.

For example, if you are a Singaporean or PR earning a salary of $2500 per month, you can get a loan of up to 4 times your salary, which means you can borrow up to $10,000.

Am I eligible for a Student Loan? Who qualifies for the loans?

Regardless if you are a fresh graduate, an executive, a manager or a businessman, you can get a loan if you are 21 to 65 years old and employed.

Loan requirements will be stated on financial institutions’ websites. A live chat option is usually provided to answer your queries. They will assess each applicant’s risk profile and credit score.

If you are a foreigner working in Singapore, you are also eligible for loans by both banks and licensed lenders. However, it must be noted that the loan requirements for foreigners are stricter especially with banks.

How long is the application process? Is there a lot of paperwork?

The amount of time varies for each bank and financial institution. It is convenient as most of them offer both paper and online application. 

Banks generally have a longer processing time as they require the approval of many departments. It could take days or even weeks for the loan to be approved and for the money to be disbursed.

Licensed moneylenders also conduct checks but generally take a shorter period of time and offer quicker processes. If the application is successful (with all the necessary documents submitted), they should be able to approve and transfer the money within a few hours or a few days.

Other Types of Loans Available

Education in Singapore is really expensive. You might not be able to get a good job without a diploma or degree. If you have been postponing your studies due to the high costs, stop worrying. We can help you unlock endless opportunities with our study loan. 

We all need a little break once in a while. Perhaps you have been wanting to go on holiday to Thailand, Japan or even the UK with your friends but lack the funds to do so. Student Loan Care can help you by solving your financial issues. 

Exchange programmes to various countries are offered by many education institutions and these are exciting once-in-a-lifetime opportunities! Although the programmes can be rather expensive, Student Loan Care is here to help you achieve your goals. 

While you are studying, there will be bills to pay or things that you have always wanted to buy. With all these expenses, your finances might get a little tight. Student Loan Care’s lifestyle/ living expenses loan is here to help with just that! 

“If you are not willing to learn, no one can help you. If you are determined to learn,
no one can stop you.”
- Zig Ziglar