Local & Overseas Education Loans Singapore
Accredit provides education loans in Singapore for local and foreign students for college and university fees. Finance school fees for each semester with flexible repayment terms and interest rates below 4%.
With over 20 years as Singapore’s leading licensed moneylender, Accredit provide education financing with maximum borrowing amounts of up to 6 times your monthly income. Don’t let financial constraints stop you from accessing quality education in Singapore or abroad – we’ll provide an education loan tailored to meet the needs of tuition fees and financial circumstances.
2,500+ Five Star Google Reviews
4 Convenient Locations Across Singapore
Transparent Loan Terms & No Hidden Fees
How it works
Just 3 Simple Steps
to get you started on your way to fast cash loans!
Get a Quote
Submit your loan application information online, where ever you are! Get an indicative pricing to have an estimate about the loan repayment terms available
Get Your Approval
Our Credit Systems makes approval a fast and instantaneous process. Our officers will contact you to make an appointment if your application is successful.
Get Your Money
Visit our branch with the necessary documents and get your money immediately! No waiting around and get your cash on the same day.
How Does An Education Loan Work?
If you are a Singapore Citizen, Permanent Resident, or a foreign student studying in a Ministry of Education (MOE) -subsidised institution, you may be eligible for the Tuition Fee Loan scheme. The Tuition Fee Loan scheme provides interest-free loans for up to 90% of course fees.
Students who require additional financial support after the Tuition Fee Loan scheme is applied can apply for an education loan with Accredit. Our loan officers will discuss the educational institution and the study fees for the course to determine the right borrowing amount. The education loan will disburse funds to cover one semester of study at a time, keeping repayments manageable.
If you are going to study abroad, the application will require details on the educational institution, the study course, and the applicable tuition fees. Accredit’s education financing can also be used to fund overseas study.
Once the funds are approved and deposited, it can be used to finance tuition fees for the semester. You will need to make regular repayments on a weekly or monthly basis to repay the loan by the end of the term.
What Can An Education Loan Be Used For?
Local Study
Education loans can be used to cover tuition fees for:
- Local polytechnics
- Undergraduate and postgraduate programmes at public and private universities
- Local campuses of foreign universities
Overseas Study
Education loans can cover the tuition fees of tertiary institutions abroad, as well as living expenses for students.
Part-Time Study
Educational loans are available for part-time study. Funds can be used to pay for course fees, whether for one-off payments or on a per-semester basis.
What You Need To Apply For An Education Loan
To apply for an education loan in Singapore with Accredit, you must:
- Be at least 21 years old
- Be a Singapore Citizen, Permanent Resident, or hold a valid visa that indicates the right to live and work in Singapore
- Have a minimum annual income of $10,000
The education loan application will require the following documents:
- Proof of identification (NRIC, FIN, Passport)
- Income payslips from the past 3 months
- An employment letter as proof of your employment status
- CPF contribution statement from the past 6 months
- A document with your residential address, such as a phone bill
- A document outlining the study course details, including the name of the institution and the course fees per semester
- A letter of acceptance from the educational institute (if applicable)
Finance Tuition Fees with Accredit
Accredit is a licensed moneylender in Singapore registered under the Ministry of Law with over 2,500 five-star reviews on Google.
- Borrow up to six times monthly income for tuition fees
- Access low interest rates under 4%, lower than most study loans from Singapore banks
- Same-day approvals for education loans – receive funds within 15 minutes of completing the required signing and loan agreement process
- Genuine financial advice from loan officers on the best loan arrangement for your study needs
- Flexible repayment terms with capped late fees to make the cost of repayment as manageable as possible
Frequently Asked Questions
Which schools can an education loan be used for?
Accredit’s education loans can be applied to most schools and educational institutions in Singapore and overseas. Applying for an education loan to study at an EduTrust-certified educational institution will generally be easier than applying to a school that does not have EduTrust certification.
How long is the repayment period for an education loan?
There is a maximum loan period of 12 months for education loans – you can select a repayment period that best suits your financial circumstances.
What is the interest rate for an education loan?
Our Singapore education loans offer interest rates under 4%, which are lower than those typically provided by most banks. The specific interest rate for your education loan will depend on your existing debts, income level, and borrowing history.
Can I apply for an education loan if I am not currently earning income?
If you do not have a consistent proof of income, you will require a guarantor to apply for the education loan. A parent, guardian, or sponsor can apply for the education loan on your behalf and make repayments for the loan.
Can I include overseas living expenses in an education loan?
Yes, you can borrow additional funds to provide for overseas living expenses. We will require a breakdown of living expenses to calculate a suitable loan amount.
