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Can I reduce the monthly instalment for my CPF education loan stated in my repayment notification?

Reducing the monthly instalment will mean a longer repayment period thus incurring more interest on the loan.

Under the Terms & Conditions of the CPF Education Loan Scheme, the loan must be fully repaid within 12 years, which starts one year after you graduate or leave the course of study. Any outstanding balance has to be paid in full before the end of the 12th year. Hence, if you repay at a lower monthly instalment, not only do you incur additional interest due to the prolonged repayment period, you may have to make a lump sum repayment of your outstanding loan at the end of the 12th year.

If you would like to reduce the monthly instalment (subject to a minimum repayment of $100), you may submit your application online via my cpf Online Services - My Requests using your Singpass.