financial aid schemes for undergraduate studies 2014 … · financial aid schemes for undergraduate...

FINANCIAL AID SCHEMESFOR UNDERGRADUATE STUDIES

2014-2015

P09016'12_NUS Financial Aid Broc.indd 3 3/3/14 12:11 pm

OUR COMMITMENTThe National University of Singapore understands the challenge of financing your undergraduate studies, and is committed to ensuring that no deserving student is denied admissions because of fi nancial diffi culty. While you are ultimately responsible for your tuition fees and living expenses, we strive to help you tap on all the available resources.

Our Financial Aid schemes are designed to help meet the educational and living expenses of fi nancially-needy students in the form of loans, bursaries and work-study opportunities, and are administered by the Offi ce of Financial Aid (OFA).

HOW MUCH IS THE COST OF ATTENDANCE?

1. Tuition Fee

Undergraduate education at NUS is highly subsidised by the Government of Singapore, which pays for the bulk of the University’s infrastructural and operating costs. The University’s fees are reviewed and adjusted periodically to refl ect the cost of providing quality education to students. Today, NUS’ fees remain very competitive in comparison with other leading universities worldwide.

The Government of Singapore provides a substantial tuition fee subsidy in the form of a tuition grant which is administered by the Ministry of Education (MOE), Singapore and offered to all admitted students. Students who opt to apply for the tuition grant will only need to pay subsidised fees.

For more information on the tuition fee payable for undergraduate studies in NUS, please visit the Registrar’s Offi ce website at: http://www.nus.edu.sg/registrar/edu/UG/fees.html

2. Estimated Living ExpensesWe estimate that full-time undergraduate students studying in NUS will incur about $6,000 of living expenses and $4,000 of accommodation expenses per year. The costs have been derived based on a conservative estimate of expenses required for a reasonably comfortable lifestyle. The actual amount can be higher or lower depending on individual student’s expenditure and lifestyle.

For more information on the cost of living in Singapore, please visit our website at: http://www.nus.edu.sg/oam/fi nancialaid/fi nancial-tuition-fees.html

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WHAT TYPES OF FINANCIAL AID ARE AVAILABLE?

NUS partners MOE and external organisations to provide a wide spectrum of financial aid for needy undergraduates in NUS. For NUS-administered fi nancial aid schemes, you will be assessed based on indicators such as the assessed fi nancial neediness of your family and any other mitigating factors.

* Tuition fee payable after acceptance of MOE Tuition Grant.** The quantum of the schemes is based on Singapore Citizens’ tuition fee rate. For example, if the tuition fee payable for

a course is SGD$10,000 per annum for Singapore Citizens and SGD$20,000 for international students, the coverage of the scheme will be based on the Singapore Citizen’s tuition fee of SGD$10,000.

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SC: Singapore Citizen

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MOE Tuition GrantMOE offers the tuition grant to help subsidise approximately 60% to 80% of your total tuition fee in NUS. The remaining fee payable ranges from about $7,700 to $46,000 per annum, depending on your nationality and course of study.

While there is no repayment required for the tuition grant, non-Singapore citizens in receipt of the grant will be required to undertake a service bond by working for any Singapore-registered company for three years (four to six years for Medical and Dental students) upon completion of their undergraduate degrees so as to discharge some of their obligations to the Singapore public for the high subsidy to their university education.

For more information on the MOE Tuition Grant, please visit the Registrar’s Offi ce website at: http://www.nus.edu.sg/registrar/edu/UG/fees.html

Financial Aid from External OrganisationsThe following are the four main externally-administered fi nancial aid schemes which can help cover up to 100% of the subsidised* tuition fee payable by Singapore Citizens**. Except for the TTFS, the other three schemes are needs-blind, i.e. applicants do not need to be fi nancially needy.

• Tuition Fee Loan (TFL)• CPF Education Scheme (CES)• MENDAKI Tertiary Tuition Fee Subsidy (TTFS)• Post-Secondary Education Account (PSEA)

Details of these schemes can be found in page 4 of the brochure.

Financial Aid from NUSThe following are the existing NUS-administered financial aid schemes which financially needy students may apply for in addition to the fi nancial aid schemes mentioned above. Only one application is required via the Undergraduate Financial Aid Portal for the student to be considered for all the following schemes.

• NUS Study Loan• NUS / Faculty Bursary• MOE Bursary• CDC/CCC Bursary • Residential Programme / UTown Bursaries• NUS Student Assistance Loan• Work-Study Assistance

HOW CAN MY FINANCIAL NEEDS BE MET?NUS Financial Aid Package

Student’s Annual Financial Needs

Tuition Fee Loan/CPF Education Scheme/ Mendaki Tertiary

Tuition Fee Subsidy

(quantum of 50% to 100% of SC tuition

fee rate)

NUS Study Loan (with Living Allowance)

(quantum of 10% or 20% of SC tuition fee rate plus $3,600 living

allowance loan)

NUS/Faculty CDC/CCC/

MOE Bursary(quantum from

$800)

Residential Programme Bursaries/UTown

Bursaries/NUS Student Assistance Loan

(quantum from $400)

TUITION FEE ACCOMMODATION FEES

LIVING EXPENSES


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NUS FINANCIAL AID SCHEMES

A. Externally Administered Schemes

SCHEME WHO CAN APPLY?QUANTUM & GUARANTOR CRITERIA (LOANS ONLY) APPLICATION

Tuition Fee Loan1,3 (TFL)

All full-time undergraduate students except international students who do not take up the MOE Tuition Grant.

The loan quantum is up to 90% of the tuition fee payable by Singapore citizens for the same course2. The loan can cover recipients for the entire course of study.

A guarantor who is not a bankrupt and between 21 – 60 years old is required. Only Singaporean guarantors are acceptable for Singaporean students; Singaporean/ SPR guarantors are acceptable for SPR students and Singaporean/SPR/non- Singaporean guarantors are acceptable for international students.

The application form is available at the Offi ce of Financial Aid website: http://www.nus.edu.sg/fi nancialaid/ The completed form is to be submitted to either DBS or OCBC Bank for processing by mid July for local students and end July for international students.

CPF Education Scheme1,3 (CES)

Full-time undergraduate students who have and/or whose parents have suffi cient CPF funds except students who do not take up the MOE Tuition Grant.

The loan quantum is up to 100% of the tuition fee payable and the CPF member may only use up to 40% of accumulated savings in the ordinary account, excluding amounts withdrawn for housing. The loan can cover recipients for the entire course of study.

Apply online via the CPF Board website at: http://www.cpf.gov.sg/ by end July or the deadline as stipulated in the website, whichever is earlier.

Mendaki Tertiary Tuition Fee Subsidy1,3 (TTFS)

Financially needy Malay undergraduate students who are Singapore Citizens and have enjoyed free secondary and pre-university education. Monthly gross family per capita income (PCI) does not exceed $1,500.

The quantum is as follows:a) 100% subsidy of tuition fees if PCI4 is

$1,000 and below;b) 75% subsidy of tuition fees if PCI4 is

between $1,001 and $1,200; andc) 50% subsidy of tuition fees if PCI4 is

between $1,201 and $1,500.

Download the application form at the Offi ce of Financial Aid website: http://www.nus.edu.sg/fi nancialaid/ from mid July onwards and the completed form must be submitted together with the required supporting documents to the Offi ce of Financial Aid by end July.

Post- Secondary Education Account (PSEA)1

Singapore Citizens who have a PSEA account

The quantum varies according to the funds available in each individual’s PSEA account. The PSEA can be used for payment of tuition fees (inclusive of miscellaneous student fees), University Town College Programme and University Scholars Programme college fees as well as enrichment programmes approved and endorsed by the University.

Download the application form at the Offi ce of Financial Aid website: http://www.nus.edu.sg/fi nancialaid/ and submit or mail the completed form to the Offi ce of Financial Aid between 4 and 8 August.

1 Application for these schemes may be carried out upon acceptance of NUS’ offer of admission.

2 The loan quantum is based on the tuition fee rate for Singapore Citizens. For example, if the tuition fee payable for a course is SGD$10,000 per annum for Singapore Citizens and SGD$20,000 for international students, the coverage of the scheme will be based on the Singapore Citizen’s tuition fee of SGD$10,000.

3 Disbursement of funds is done at the beginning of Semester 1 and 2 provided that tuition fees are charged for that semester.

4 PCI refers to per capita income which is derived from taking the total monthly gross income of all working family members and dividing it by the total no. of family members living in the same household.


B. NUS - Administered Schemes

SCHEME WHO CAN APPLY?QUANTUM & GUARANTOR CRITERIA (LOANS ONLY) APPLICATION

NUS StudyLoan2

(NSL)

Needy undergraduate students who have taken the maximum coverage under the TFL and/orCES and/or TTFS and/or PSEA and/or such other similar schemes for the tuition fee payable by Singapore citizens for the same course of study1.

Local and international students whose gross monthly per capita household income is not more than $2,400 and $1,200 respectively.

The loan quantum is 10% or 20% of the tuition fee payable by Singapore Citizens for the same course of study1 and/or annual living allowance loan of $3,600. The loan can cover recipients for the entire course of study.

A guarantor who is not a bankrupt and between 21 – 60 years old is required. Only Singaporean guarantors are acceptable for Singaporean students; Singaporean/SPR guarantors are acceptable for SPR students and Singaporean/SPR/non-Singaporean guarantors are acceptable for international students.

Existing and prospective students may apply online via the Undergraduate Financial Aid Portal from 15 October to 1 April (prospective students) or 1 February to 1 April (existing students).

Supporting documents must be submitted or mailed to the Offi ce of Financial Aid within two weeks of the online application date.

Applications should be made (1) as soon as possible after your application for admission and regardless of whether you have been offered admission to NUS and (2) regardless of whether you intend to apply for scholarships and/or other forms of fi nancial assistance offered or administered by other sources.

Only one application is required for the student to be considered for the NUS Study Loan, MOE Bursary, NUS /Faculty Bursary, CDC/CCC Bursary, Residential Programme /UTown Bursaries, NUS Student Assistance Loan and Work-study Assistance schemes.

MOE Bursary2 Singapore Citizens whose gross monthly per capita household income is not more than $1,900.

The quantum is up to $2,600 per annum.

Re-application is required every year.

NUS / Faculty Bursary2

Needy undergraduates who have obtained maximum fi nancing under the TFL, CES, TTFS, PSEA and such other similar schemes and the NUS Study Loan may be considered.

The bursary quantum is at least $1,000 per annum and varies according to the assessed fi nancial need and nationality of the applicant.


CDC/CCC Bursary

Singapore Citizens whose gross monthly per capita household income is not more than $850.

The quantum is $3,600 per annum.


Residential Programme / UTown Bursaries2

Needy Singaporean Citizens who are staying at one of the three residential colleges4 at the University Town or one of the six Halls of Residences5 may be considered.

The quantum of each award is at least $400 per annum and varies according to the assessed fi nancial need of the applicant.


NUS Student Assistance Loan(SAL)

Needy undergraduate students who are in receipt of the NUS Study Loan with the living allowance component.

Recipients of the ASEAN/NUS Undergraduate Scholarship, Kent Ridge Undergraduate Scholarship, University Engineering Scholarship and such other scholarships are also eligible to apply for this loan.

The loan quantum varies according to the fi nancial need and nationality of the applicant, and the availability of funds. The loan can cover recipients for the entire course of study.

A guarantor who is not a bankrupt and between 21 – 60 years old is required. He or she must be a Singapore Citizen or Singapore Permanent Resident and must not be a party (borrower/guarantor) to more than one other loan agreement.

Work-StudyAssistance

Needy full-time undergraduate students may be considered.

Successful applicants will be issued a letter by OFA requesting for prospective employers to accord them priority during job placement and also receive email notifi cations on job vacancies. An international student must not work more than 16 hours per week during term time. There is no such restriction during vacation time. Re-application is required every year.

For more information on the above, please visit the NUS Financial Aid website at: http://www.nus.edu.sg/fi nancialaid/.

For bursaries and loans administered by the other NUS Offi ces, faculties/schools and Halls/University Town/Residential Colleges, please refer to the website of the respective administrating parties for details.

1 The loan quantum is based on the tuition fee rate for Singapore Citizens. For example, if the tuition fee payable for a course is SGD$10,000 per annum for Singapore Citizens and SGD$20,000 for international students, the coverage of the scheme will be based on the Singapore Citizen’s tuition fee of SGD$10,000.

2 Disbursement of funds is done at the beginning of Semester 1 and 2 provided that tuition fees are charged for that semester.

3 PCI refers to per capita income which is derived from taking the total monthly gross income of all working family members and divide it by the total no. of family members living in the same household.

4 Only includes College of Alice & Peter Tan, Cinnamon College (USP) and Tembusu College

5 Only includes Eusoff Hall, Kent Ridge Hall, King Edward VII Hall, Raffl es Hall, Sheares Hall and Temasek Hall5


HOW SHOULD I APPLY FOR NUS-ADMINISTERED FINANCIAL AID SCHEMES?

1. Get ready your Admission Application Number and PIN for prospective students (obtained after submission of your online admission application) or NUSNET ID and Password if you are an NUS student.

2. Submit your Financial Aid online application via the Undergraduate Financial Aid Portal at www.nus.edu.sg/fi nancialaid/ from 15 October to 1 April (prospective students) or 1 February to 1 April (existing students).

3. Print out the Application Form (Summary) [AFS] at the end of your Financial Aid online application. Gather all the necessary supporting documents as listed in the AFS. The documents are as follows:

a. Photocopies of your identifi cation document as well as photocopies of identifi cation documents of all the household members staying with you in your home country indicating their nationalities and existing home addresses.

b. Photocopies of the income statements of all employed salaried family members in the following sequence of priority in case of unavailability of documents:(1) Latest month salary slip(2) Employer’s letter stating current gross monthly income(3) Latest IR8A Form or income tax statement for 2013

c. Other supporting documents as indicated in the AFS according to each applicant’s fi nancial circumstance.d. Submit or mail the AFS and all supporting documents to the Offi ce of Financial Aid within 2 weeks

of the online application date.

WHEN WILL I RECEIVE MY FINANCIAL AID OFFER AND FUNDS?

Prospective and existing students can check the status of your fi nancial aid application via the Undergraduate Financial Aid Portal from March and May onwards respectively. Please check your email regularly to avoid missing our notifi cation on your application outcome or our requests for additional/missing documents.

CHECKLIST

ACTIVITY APPLICABLE TO? DATEApply for NUS-administeredFinancial Aid

All interested needy undergraduate students, including prospective students who have applied for admission to NUS

15 October to 1 April (prospective students) or 1 February to 1 April (existing students)

Submit supporting documents to the Offi ce of Financial Aid

All fi nancial aid applicants Within 2 weeks of online application date

Offer and acceptance of Financial Aid (Acceptance Guide available at http://www.nus.edu.sg/fi nancialaid/)

All eligible fi nancial aid applicants Mar – Jun

Apply for TFL/CES All interested undergraduate students, including fi nancial aid applicants

After acceptance of admission offers and by mid July

Apply for TTFS All interested Singaporean Malay students, including fi nancial aid applicants

After acceptance of admission offers and by end July

Sign NUS Study Loan and/orStudent Assistance Loan agreement(s)

All recipients under the respective schemes after receiving email notifi cation on the signing schedule

Jul – Sep

Receive proceeds of fi nancial aid funds* All fi nancial aid recipients Sep (before GIRO deduction of fees)

* Note that disbursement of funds depends on satisfactory compliance of pre-conditions and documentary requirements. The date of disbursement may also vary depending on compliance to the terms and conditions of the various fi nancial aid schemes. All fees due to the University will be deducted from all approved fi nancial aid funds prior to crediting.

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OFFICE OF FINANCIAL AIDFinancial Aid Enquiries:Tel: (65) 6516 2870Fax: (65) 6774 4021Email: [email protected]: http://www.nus.edu.sg/financialaid/

Walk-in Enquiries:Office of Financial Aid(within Office of Admissions)University Town, 2 College Avenue West (Stephen Riady Centre)#01-03

Operating Hours:Mon - Thu: 8.30 am to 6.00 pmFri: 8.30 am to 5.30 pmClosed on Saturday, Sunday and Public Holidays

Mailing Address:Office of Admissions(Attn: Office of Financial Aid)National University of Singapore University Town, 2 College Avenue West (Stephen Riady Centre)#01-03 Singapore 138607

All information is correct at the time of printing in February 2014.Updates will be posted at www.nus.edu.sg/financialaid/

FINANCIAL AID SCHEMESFOR UNDERGRADUATE STUDIES

2014-2015


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