Singapore Indian Education Trust
SIET Interest Free Study Loan
An interest-free study loan by the Singapore Indian Education Trust (SIET) for eligible Singaporean/PR applicants of Indian or South Asian origin pursuing diploma or degree studies locally. Offers up to $30,000 with structured, post-study repayment.
Overview
An interest-free study loan that helps eligible students and working adults finance diploma or degree studies at local public institutions or private EduTrust-accredited schools.
Key benefits:
- Interest-free financing for approved post-secondary and tertiary courses
- Loan caps of up to $18,000 for diploma and $30,000 for degree programmes
- Repayment begins after a grace period (6 months post-graduation for full-time; 3 months after first disbursement for part-time)
- Assessment tailored to individual circumstances by a management committee
Who it helps:
- Singapore Citizens/Permanent Residents of Indian or South Asian heritage who face financial constraints
- Students (full-time or part-time) and working adults seeking to upgrade skills within their current sector
Scheme type
Education SupportFinancial Assistance
Who qualifies
Eligibility groups
Young adults
Students
Low income
Indian community
What you receive
Financial assistance for education
Eligibility details
- Singapore Citizen or Permanent Resident of Indian descent or other South Asian origins (Sri Lanka, Pakistan, Bangladesh, Nepal)
- Admitted to a full-time or part-time Diploma/Degree programme at a government/government-aided institution or a private EduTrust-accredited institution operating in Singapore
- Per Capita Income (PCI) ≤ $1,600/month (PCI = total monthly nett combined household income ÷ number of household members)
- Two sureties required: Singapore Citizen/PR; aged 21–55; minimum monthly gross income $3,500 or $2,500 nett; not an undischarged bankrupt; 1 must be a family member, the other can be a relative or friend
- Must apply for available school/other institutional financial assistance and/or grants before applying to SIET
- Must provide a funding plan showing how the course will be financed (including any bursaries, scholarships, loans, and how any shortfall will be covered)
- Must submit a detailed write-up on educational goals, career objectives, motivation, and how the SIET loan supports these
- All applicants must attend a panel interview.
How to apply
- Apply for your school’s financial assistance and/or available grants first.
- Prepare required materials: a funding plan covering all financing sources and any shortfall, and a detailed personal write-up on goals and motivation. Arrange two eligible sureties.
- Submit the SIET Interest-Free Study Loan application (via the SIET website’s “Apply Now” link) with supporting documents as required.
- Attend the mandatory panel interview.
Agency details
Service area
Singapore
Important Information
Scheme details may change. Check the official agency website for the latest eligibility, benefits, and application information.
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