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 MOE Tuition Fee Loan (TFL) or use of the student's Post-Secondary Education Account (PSEA) savings.
The MOE 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.
If you are unable to repay your MOE TFL due to further studies or financial difficulties due to unemployment or medical condition, you may appeal to defer repayment and interest. Your appeal will be considered on a case-by-case basis. While CPF may also allow for deferment in challenging times, the interest continues to accrue as it is essential to completely restore the savings meant primarily for retirement. For more information on the MOE TFL, please refer to this link.
