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Education Loan or Self-Funding: Know Which is Better to Study in Singapore?

By Team Pardaphash 
Updated Date

Singapore is one of the few countries in the Asian continent, which boasts of being a developed country. The Education System in Singapore is highly developed and very fulfilling. As a developed nation, Singapore believes in spending immensely on their education system to create perfect leaders for the future. It is a popular destination for students who want to pursue MBA.

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Singapore hosts a large number of international students every year in the country. They also provide large assortments of financial assistance schemes for international students to find their path while studying in Singapore. Let us understand the different ways through which an international student can Study in Singapore. We can later decipher which method is better and more fulfilling.

Tuition Fee Grant

To study in a local university or polytechnic, the tuition fee grant administered by the Ministry of Education (MOE) subsidizes the fees up to 80%. It is eligible for all the students. For international students, the only caveat is that the same grant is available to you only after signing a deed with the Singapore Government. And according to it, the students have to work in a Singapore based company for at least three years after the completion of the program while studying in Singapore.

Study Loans

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Study loans help a lot of students who wish to study abroad. Many students who do not get scholarships or grants, apply for loans. It is an easier form of financing method. The loan is usually payable after the completion of the course. It does not have multiple stipulated points to be checked every semester, which is the case when a student studies in Singapore with a grant or scholarship. There are no added addendums in a loan other than the base requirement. It can help a student study at ease and perform better in the course. In some cases, the loan repayment is after getting employment. But, the budding and the more problematic issue is the hovering and very high-interest rates which keep capitulating.


Some international students who aspire to study in Singapore can apply to Bursaries to pay for their tuition fees and other expenses. These are awarded purely on the basis of the financial status of the family and the need of the international student who aspires to study in Singapore. They usually have a capping limit of Singaporean dollar 1500 per academic year and never exceed the above-mentioned amount for any student who studies in Singapore. These bursaries are usually under the educational institutions themselves. They govern them on their own. While applying a student should check if the university has a bursary.

Financing decision is not an easy one to make. It depends on many factors such as where the student studies, the course fee, the university ranking, the placement record, other expenses. With such a plethora of options, an international student who wants to study in Singapore will find it easier to manage his/her finances during the course duration.

It is essential to figure out the finances before going to study abroad. Keeping everything in mind, it seems taking an educational loan along with a bursary grant will be a great combination.

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Yet, there is another option of self-financing. This form of financing requires paying and arranging all of the money through your own self. Either your guardian sponsors you or some relative living in Singapore sponsors the student aspiring to study in Singapore. This method though is very reliable but it comes with an excessive burden and no rate of interest. It can create jeopardy in a student’s family finance. Therefore, an educational loan is a better option to take and study in Singapore, barring the interest rate, it is quite safe and secure. When the student is placed, paying off the loan will be a piece of cake without any additional burden on the family.

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