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

 

Repayment must be made in cash 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 borrower cannot use his own CPF savings for the repayments to the CPF lender's CPF Account.

 

Borrowers 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 via "Manage Education Loan Repayments".

Borrowers 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.

 

Check out the video to learn more on how repayment helps secure your loved ones’ retirement!