Suspension of repayments and interest for Government loans from 1 June 2020 to 31 May 2021
As part of the Government's Resilience Budget to support workers, businesses and households affected by the COVID-19 pandemic as announced on 26 March 2020, MOE will suspend the repayment and interest for Tuition Fee Loans, Study Loans and Overseas Student Programme Loans for all autonomous university and polytechnic graduates for 1 year, from 1 June 2020 to 31 May 2021.
During this period, all loan repayments due will be suspended and no standard or penalty interest will be levied on any outstanding loan.
All individuals with outstanding Tuition Fee Loans, Study Loans and Overseas Student Programme Loans will be automatically granted the suspension of loan repayment and interest during the suspension period. This includes graduates who have already started on their loan repayments and students with outstanding government loans who will be graduating during the suspension period. Individuals who wish to continue repaying their loans can do so by informing their respective institutions and agent banks to make the necessary arrangements.