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Last Updated:  15 Apr 2026

Higher Education Student Loan

Eligible students in post-secondary education institutions (PSEIs) can apply for the Higher Education Student Loan (HESL). Find out more.

Overview

Students taking MOE-subsidised diploma, undergraduate or postgraduate programmes in the following PSEIs can apply for the HESL:

  • Institute of Technical Education (ITE)
  • Polytechnics
  • Arts institutions - LASALLE College of the Arts (LASALLE), Nanyang Academy of Fine Arts (NAFA), University of the Arts Singapore (UAS)
  • Autonomous Universities

The HESL can cover certain percentage of their tuition fees, living allowance, overseas student programme.

 
Note: If you are currently taking a Tuition Fee Loan (TFL) or Study Loan (SL) and you do not intend to adjust your borrowings, you can continue to receive the loan provision based on what you have taken up . You are not required to apply for HESL.

The Higher Education Student Loan (HESL) comprises 2 components:

1. Base provision

  • For eligible Singapore Citizens (SC), Singapore Permanent Residents (SPRs) and International Students (IS), it covers up to 90% of the subsidised tuition fees payable, depending on your citizenship.

2. Means-tested provision

  • For eligible Singapore Citizens (SC), it covers the balance of your subsidised tuition fees not covered by the base provision and loan for living allowance. For undergraduates, it also covers the cost of overseas student programmes.
  • For eligible Singapore Permanent Residents (SPR) and international students (IS), it covers living allowance only.

Who is eligible for means-tested provision

To be eligible for means-tested provision, you must be:

  • An SC or a SPR with gross monthly household per capita income (PCI) of $3,500 or less.
  • An IS with gross monthly household PCI of $1,875 or less.
 
Gross monthly household PCI = Gross monthly household income divided by number of family members living in the same household.

You will have flexibility to decide the components that you want to take up. Within the means-tested provision, SC students can also decide if they want the loan to cover the fee balance only, living allowance only, cost of overseas programme only, or a combination of any of these three.

Who is eligible for HESL

Interest Rate

The HESL is interest-free during course of study, and interest will start upon your graduation or when you leave the institution. The interest rate basis, which is the same as that for the existing loan schemes, are:

  • Standard interest
    3-month compounded Singapore Overnight Rate Average (3M SORA) plus 1.5 percentage points or such other rates as may be determined from time to time by the bank
  • Late payment interest for overdue and unpaid loans or loan instalments
    3M SORA plus 4.5 percentage points or such other rates as may be determined from time to time by the bank
Standard interest 3-month compounded Singapore Overnight Rate Average (3M SORA) plus 1.5 percentage points or such other rates as may be determined from time to time by the bank
Late payment interest for overdue and unpaid loans/loan instalment 3M SORA plus 4.5 percentage points or such other rates as may be determined from time to time by the bank

The interest rates are revised on a half-yearly basis based on the 3M SORA published on the Monetary Authority of Singapore's (MAS) website on:

  • 1 March for the period 1 April to 30 September
  • 1 September for the period 1 October to 31 March of the following calendar year

For instances where 1 March and/or 1 September falls on a weekend and/or a public holiday and rates are not published by MAS, the interest rate will take reference from the 3M SORA published on the Singapore business day before.

You may refer to the website of the agent bank (DBS or OCBC) administering the loan scheme for your institution for the prevailing interest rates for the HESL.

Loan Repayment

The maximum repayment period for the HESL is 10 years.

Upon graduation, you can opt to repay the HESL account either by a full lump-sum payment, partial payment or monthly instalments.

How to apply for HESL

 
Note:

Before taking up the HESL, you should first consider other financing options that may be available, such as government bursaries, Post-Secondary Education Account (PSEA) fund, institution-based financial aid schemes.

Approach the financial aid office of your institution or visit their websites to find out more about the available financing options and eligibility criteria.

For a start, these students can apply for HESL through the StudentLoanSG (SLSG) portal using their Singpass account:

  • Newly matriculated students in Academic Year (AY) 2026 intake.
  • Existing students (before AY2026 intake) who do not have TFL and SL for their current course of study.

To apply, log in to the SLSG portal using your Singpass from 10am on Wednesday, 1 July 2026.

If you have taken up TFL and/or SL, no action is required from you. However, if you wish to apply for new or additional loan provision under the HESL scheme, you should approach your institution for advice and needs assessment from Tuesday, 1 September 2026.

Institutions will assess if your current loans meet your financing needs and whether there are any available financing options including institution-based financial aid that you can tap on, instead of taking up loan provision under HESL. You may apply for HESL in the SLSG portal from Tuesday, 1 September 2026, if you are found to need the additional aid by your institutions. For more information, approach the respective institutions directly.

Student Loan Management Resource Guide

Whether you are starting your tertiary education journey or gearing up for graduation, you can read and download the resource guide to help you better understand and manage your student loans.