Why do I still receive notifications from CPF Board regarding my education loan arrears even though I have made repayment via PayNow?
You will receive notifications if there are arrears on your education loan due to missed payments for past and current months. Notifications are sent in 2 situations:
- If you are not on GIRO or your GIRO application is still being processed, any payments made will be used to offset your current month’s payment before offsetting arrears. If the payment is insufficient to cover the total outstanding arrears, you will receive a notification for payment of the outstanding arrears.
- If you are on GIRO and there are insufficient funds in your bank account to repay your current month’s instalment, the notification will nudge you to pay for your current month’s instalment and arrears (if any).
All payments received will be used to offset the outstanding education loan and there are no penalties charged for any missed payments.
