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How does the education loan repayment work?

The student has to start repaying the education loan one year after graduation or termination of studies, whichever is earlier. The student will receive a notification on the loan repayment details generally about three months before it commences. If the student intends to start the repayment earlier, the student can contact us through My Mailbox using his/her Singpass.

Repayment must be made either in one lump sum or via monthly instalments over a maximum of 12 years. The monthly instalment rate will be computed for the student based on the loan amount and repayment period. The student cannot use his own CPF savings for the repayments to the CPF member's CPF Account.

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 a higher monthly instalment amount.

Students can use the CPF education loan repayment calculator to compute how long it will take for them to repay the loan or work out a suitable loan repayment plan.