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What happens if there are not enough savings in my Ordinary Account for payment of tuition fees?

You will be informed in writing if there are not enough savings in your Ordinary Account for the payment of the tuition fees. You will need to make alternative arrangement to pay the tuition fees in cash, or consider other financing options such as the Tuition Fee Loan or use of the student's Post-Secondary Education Account (PSEA) savings.

The TFL is available to all full-time students of the polytechnics and universities and covers up to 75% and 90% of the tuition fees payable respectively. It is also interest-free during the course of study, unlike the CPF loan where interest starts to accrue from the time of withdrawal.

Additionally, being a loan from MOE, the TFL repayment and interest can be suspended in periods of economic downturn. For instance, MOE has suspended the TFL repayment and interest from 1 June 2020 to 30 September 2021 to support households affected by Covid-19, and had done so in the past as well. On the other hand, repayment of the CPF education loan and interest cannot be suspended as it is to restore the member’s CPF savings for his retirement needs, and retirement security remains important, if not more so, during economic downturns.