| Understand | What is the CPF Education Scheme? | <p>The CPF Education Scheme is a loan scheme which allows you to use your Ordinary Account (OA) savings to pay for your own, children’s or spouse’s subsidised tuition fees. Applications to use CPF savings to pay for your sibling’s or relative’s subsidised tuition fees will be assessed on a case-by-case basis.</p><p>Only
<a href="/Members/FAQ/schemes/other-matters/cpf-education-scheme#faq2196412">full-time subsidised diploma/degree courses at Approved Educational Institutions (AEIs)</a> are covered under this scheme. The student would need to start repaying the principal amount withdrawn plus the accrued interest in cash to your CPF account, one year after graduation or termination of studies whichever is earlier.</p><p>If the institution or course does not fall under this scheme, you and the student can consider taking up a loan with the commercial banks or approaching the institution for other financial assistance options.</p> | CPF Education Scheme | 1512 | 1512 |
| Understand | Who can apply for the CPF Education Scheme? | <p>You and the student can apply for this scheme if you meet the following conditions:</p><ul><li style="margin-bottom:5pt;">You are using your Ordinary Account (OA) savings to pay for your own, children’s, spouse’s, siblings’ or relatives’ tuition fees. </li><li style="margin-bottom:5pt;">You have sufficient OA savings and Available Withdrawal Limit to be used under the CPF Education Scheme. </li><li>The course registered is a full-time subsidised diploma/degree course at an
<a href="/Members/FAQ/schemes/other-matters/cpf-education-scheme#faq2196412">Approved Educational Institution (AEI)</a>.</li></ul><p>There is no need for a guarantor, unless the student is a foreigner. Please refer to the
<a href="/members/general/member-pages/apply-education-scheme">Terms and Conditions for Use of CPF Savings under the CPF Education Scheme</a> on the guarantor eligibility criteria.</p> | CPF Education Scheme | 1513 | 1513 |
| Understand | How much Ordinary Account (OA) savings can I use under the CPF Education Scheme? | <p>You can use your OA savings up to the Available Withdrawal Limit under the Education Scheme. The Available Withdrawal Limit is either 40% of your accumulated OA savings<sup>1</sup>, or your remaining OA balance<sup>2</sup>, whichever is lower. The amount that can be used is also subjected to the tuition fees payable.</p><p>If you are 55 years old or older, you need to set aside the Full Retirement Sum (FRS) in the Retirement Account before you can use the remaining savings in the OA up to the Available Withdrawal Limit. The FRS can be set aside fully with cash, or with cash (i.e. at least the Basic Retirement Sum) and property.</p>
<p>The Available Withdrawal Limit will change if there is a new withdrawal, repayment or refund in your OA. To check your Available Withdrawal Limit and its working details, you can log in to the CPF website using your
<a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices" target="_blank">SingPass</a> and view under My Statement.</p><p>
<sup style="font-size:0.8em;">1 </sup>
<span style="font-size:0.9em;">Made up of your current OA balance plus any OA savings that were previously withdrawn for education and investment, excluding the amount used for housing.</span></p><p>
<sup style="font-size:0.8em;">2 </sup>
<span style="font-size:0.9em;">After setting aside any amounts reserved for housing or other schemes (if any).</span></p> | CPF Education Scheme | 1514 | 1514 |
| Understand | How much of the tuition fees can be paid using OA savings? | <p>Your OA savings can be used to pay up to 100% of the tuition fees. However, if you are paying for your relatives’ tuition fees, the percentage of tuition fees that can be paid using your OA savings is:</p><ul><li style="margin-bottom:5pt;">
<strong>10%</strong> if your relative(s) is studying at a university; </li>
<li style="margin-bottom:5pt;">
<strong>25%</strong> if your relative(s) is studying at a polytechnic or pursuing a Technical Engineer Diploma (TED) or a Technical Diploma in Culinary Arts at Institute of Technical Education (ITE); or </li><li style="margin-bottom:5pt;">
<strong>50%</strong> if your relative(s) is studying at an art college.</li></ul><p>To pay the remaining tuition fees, the student can consider the MOE Tuition Fee Loan Scheme, subject to eligibility.</p> | CPF Education Scheme | 1508 | 1508 |
| Understand | How does the education loan repayment work? | <p>The student has to start repaying the loan one year after graduation or termination of studies, whichever is earlier. The student will receive a letter from us with the loan repayment details about three months before it commences. If the student intends to start the repayment earlier, the student can contact us through the
<a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices" target="_blank">e-Concierge service</a> under My Request.</p><p>Repayment must be made in
<strong>cash</strong> either in one lump sum or via monthly instalment over a maximum of 12 years. The monthly instalment rate will be computed for the student based on the loan amount and repayment period.</p><p>Students are encouraged to repay the full loan as early as possible to save on the interest payable and to allow the account holder to use these monies for his/her housing and retirement needs. This can be done by making lump sum repayments or repaying at a higher monthly instalment amount.</p><p>Students can use the
<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/EducationLoanRepaymentPeriodCalculator/EducationLoanRepaymentPeriodCalculate" target="_blank">CPF Education Loan Repayment Period Calculator</a> to compute how long it will take for them to repay the loan or the
<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/EducationMonthlyInstalmentRateCalculator/EducationMonthlyInstalmentRateCalculate" target="_blank">Monthly Instalment Rate Calculator</a> to work out a suitable loan repayment plan.</p> | CPF Education Scheme | 1510 | 1510 |
| Understand | What is the interest rate and how is it computed for the education loan? | <p>The interest for the education loan will start to accrue from the time the OA savings are withdrawn until the education loan is fully paid. It is pegged to the
<a href="/Members/AboutUs/about-us-info/cpf-interest-rates">OA interest rate</a>, which is adjusted quarterly. The loan interest is calculated on a monthly basis.</p> | CPF Education Scheme | 1516 | 1516 |
| Understand | Can the student defer the education loan repayment? | <p>The student can apply to defer the repayment for the CPF savings withdrawn for the following reasons:</p><ul><li style="margin-bottom:3pt;">Serving full-time National Service (NS); or </li><li style="margin-bottom:3pt;">Studying full-time; or </li><li style="margin-bottom:3pt;">Currently unemployed.</li></ul><p>You can find more information on
<a href="/Members/FAQ/schemes/other-matters/cpf-education-scheme#faq2196652">deferment of repayment</a>.</p> | CPF Education Scheme | 1517 | 1517 |
| Understand | Can I waive the repayment of the education loan? | <p>You can
<a href="/Assets/members/Documents/FORM_AES_W1.pdf">apply to waive the loan repayment</a> (PDF, 0.8MB) if you are 55 years old and above and have set aside the <a href="/Members/Schemes/schemes/retirement/retirement-sum-scheme">Full Retirement Sum (FRS)</a> in the Retirement Account. The FRS can be set aside fully with cash, or with cash (i.e. at least the Basic Retirement Sum) and property. You can only apply for waiver after the student has graduated or left the institution, whichever is earlier.
</p><p>For CPF members who are able to withdraw some of your CPF savings under medical grounds or leaving Singapore and West Malaysia permanently, you can approach us to check whether you are able to waive the repayment.</p><p>You can find more information on
<a href="/Members/FAQ/schemes/other-matters/cpf-education-scheme#faq2196658">waiver of repayment</a>.<br></p> | CPF Education Scheme | 1518 | 1518 |
| Decide | What do I need to consider before deciding which education loan to take? | <p>Besides the CPF Education Scheme, there are other ways to finance a tertiary education in Singapore.</p><p>Consider the following before deciding on a loan type:</p><ul><li style="margin-bottom:5pt;">What other loan options are you and the student eligible for besides the CPF Education Scheme? </li><li style="margin-bottom:5pt;">How much CPF savings can you use under the CPF Education Scheme? Is it sufficient to fully finance the course? </li><li style="margin-bottom:5pt;">If using CPF, how would it affect your housing needs (if any) and retirement planning? </li><li style="margin-bottom:5pt;">How does the estimated loan repayment period affect the total interest to be paid?</li></ul><p>The table below shows a quick comparison between the CPF Education Loan and the MOE Tuition Fee Loan.<br></p><p>
<img src="/Assets/members/PublishingImages/ComparisonBetweenCPFEducationLoanAndMOETuitionFeeLoan.png" alt="Comparison between CPF Education Loan and MOE Tuition Fee Loan" style="width:65%;height:auto;" />
</p><p>You can also refer to some
<a href="/Assets/members/Documents/Comparison_EDNSchemeandMOETuitionFeeLoanScheme.pdf" target="_blank">examples</a> (PDF, 74KB) which compares between the CPF Education Scheme with the MOE Tuition Fee Loan Scheme.</p> | CPF Education Scheme | 1519 | 1519 |
| Apply | How does the student apply for CPF Education Scheme? | <p>
<strong>When is the loan application period?</strong></p><p>The application period for each Approved Educational Institution (AEI) varies as it depends on the start date of the academic semester. You can refer to the
<a href="https://www.cpf.gov.sg/eSvc/Web/Miscellaneous/ApplicationScheduleToUseCpfSavings/ViewApplicationSchedule" target="_blank"> application schedule</a> to check the dates before applying for the loan. No application will be accepted after the cut-off date.</p><p>
<strong>Online using
<em><strong>my cpf</strong></em></strong></p><p>The student and you will be involved in the application process.</p><ol><li style="margin-bottom:5pt;">The student must login with
<a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices" target="_blank"> SingPass</a> and submit the application via My Requests. </li><li style="margin-bottom:5pt;">An email with an URL will be sent to your email address provided by the student in the application form within two days. </li><li>You must login with your
<a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices" target="_blank"> SingPass</a> within 14 days from the date of the application, to agree to the use of your CPF savings. Otherwise the application would be rejected.</li></ol><p>
<strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">For foreign students, you will need to send the completed hardcopy
<a href="/Assets/members/Documents/FORM_AES_F1.pdf" target="_blank"> FORM AES/F1: Use CPF Savings for Education Scheme</a> (PDF, 3.2MB) together with any supporting documents where applicable, to the student’s institution by the given deadline.</li></ol><p>The student can login with their
<a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices" target="_blank"> SingPass</a> at the CPF website to check the loan application status under My Activities.</p><p>The application will be processed according to the
<a href="/Members/AboutUs/about-us-info/service-standards-for-members/other-matters#education"> service standards</a>.</p> | CPF Education Scheme | 1520 | 1520 |
| Apply | How does a student make a repayment? | <p>The student can make repayment via GIRO or other
<a href="/Members/FAQ/schemes/other-matters/cpf-education-scheme#faq2196528">modes of repayment</a> approved by CPF Board. It can be in a lumpsum or monthly instalments.</p><p>For monthly instalments, GIRO repayment is the most convenient and preferred mode of repayment, as it automatically deducts the amount required each month. To do so, please submit the completed
<a href="/Assets/members/Documents/FORM_EDN_GIRO.pdf" target="_blank">GIRO application form</a> (PDF, 0.5MB).</p> | CPF Education Scheme | 1525 | 1525 |
| Apply | How does a student apply to defer the repayment? | <p>
<strong>Online using
<em>
<strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login with your
<a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li style="margin-bottom:5pt;">Submit a deferment application via My Requests.</li></ol><p>
<strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and complete the
<a href="/Assets/members/Documents/FORM_AES_D1.pdf" target="_blank">FORM AES/D1: Apply to Defer Repayment under CPF Education Scheme</a> (PDF, 0.7MB). </li><li style="margin-bottom:5pt;">Mail it to:<br>Central Provident Fund Board<br>Education Scheme Section<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060</li></ol><p>An online application is recommended as it requires a shorter processing time. The student can login with
<a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a> at the CPF website to check the deferment application status under My Activities.</p><p>The application will be processed according to the
<a href="/Members/AboutUs/about-us-info/service-standards-for-members/other-matters#education">service standards</a>.</p> | CPF Education Scheme | 1523 | 1523 |
| Apply | How do I apply to waive the repayment of the CPF Education Loan? | <p>
<strong>Online using
<em>
<strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login with your
<a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li style="margin-bottom:5pt;">Submit a waiver application via My Requests.</li></ol><p>
<strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and complete
<a href="/Assets/members/Documents/FORM_AES_W1.pdf" target="_blank">FORM AES/W1: Apply for Waiver of Repayment Of CPF Savings Withdrawn Under The CPF Education Scheme</a> (PDF, 0.8MB). </li><li style="margin-bottom:5pt;">Mail it to:<br>Central Provident Fund Board<br>Education Scheme Section<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060</li></ol><p>An online application is recommended as it requires a shorter processing time. The member can login with the
<a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a> at the CPF website to check the waiver application status under “My Activities”.</p><p>The application will be processed according to the
<a href="/Members/AboutUs/about-us-info/service-standards-for-members/other-matters#education">service standards</a>.</p> | CPF Education Scheme | 1693 | 1693 |