Study Loan Singapore | Finance Local or Overseas Studies


Pursue Your Education Without Worrying About Your Finances

Having to put your study plans on hold due to a lack of savings? Eager to fully focus on your education without worrying about money? Taking out a study loan can allow you to pursue your education in peace. Apply for an affordable study loan

Why get a study loan with Goldstar Credit?

  • Low interest rates from 2.27% a month
  • Comfortable repayment period (up to 12 months)
  • Flexible loan terms

What is a study loan and how does a study loan work?

A study loan is a type of personal loan designed to help students pay for school-related fees such as tuition, school supplies and living expenses. Its sole purpose is to fund your education costs, thus taking the strain off your finances so you can focus on your studies. We understand that pursuing a higher education can unlock doors to rewarding and lucrative careers; but diploma and college fees are getting increasingly costly. Local universities have increased tuition fees by a whopping 38% since 2007. For those looking to pursue part-time courses to upskill or obtain a second degree or diploma to widen their field of study, it could also be an added financial burden especially if you have dependents and other commitments to take care of. Instead of draining your bank account to pay for your studies or picking up a part-time job which can be very taxing, a university study loan in Singapore can help you ease your financial burden so you have some cash on hand for emergencies and other commitments. You can also take a Singapore education loan for overseas studies, but do note that overseas studies are more expensive, and can cost $50,000 a year onwards. I want to pursue my education with a peace of mind.

Can’t qualify for other loans? Goldstar Credit is here for you

There are many ways to get a study loan in Singapore. A common one is MOE’s tuition fee loan program. The ministry conducts the program through banks like DBS and OCBC. However, these programs are often subject to strict approval. Though there are no minimum income and age requirements, applicants will need to have guarantors for these study loans. These guarantors must be between 21 and 60 years old and have a good credit history. If you don’t meet the requirements for an MOE tuition fee loan program or are considering a bank loan, do take note that the terms are different. Both options accrue an average interest of 5.10% to 5.25% a year. You should also find out if the loans cover miscellaneous expenses such as textbooks, supplies and other recurring costs. Taking out a traditional government or bank loan may be daunting with so many application procedures and approvals might be on a case-by-case basis. If your chosen course of study and school don’t qualify for a government loan, or if you only require a small amount of $1,000 for a vocational course but don’t meet the minimum loanable amount from banks, Goldstar Credit’s flexible loan and repayment scheme would come in handy. Get a study loan of up to $50,000. Apply with Goldstar now.

Who can apply for a study loan with Goldstar Credit?

Age criteria: At least 18 years old

If you are below 18 years old, your working parents or relatives can help to apply for the loan on your behalf.

Income criteria: Proof of stable income

To apply for a loan, you will need to provide a proof of income to verify your ability to repay the loan. If you are studying part-time, you will also have to provide proof that you have a stable monthly income. Otherwise, your working parents or next of kin can also apply for the loan on your behalf.

Tips on how to apply for the best study loans

1. Compare interest rates and fees

Before applying for any loan, you should consider choosing an option that has reasonable interest rates. Goldstar Credit is a certified money lender registered under the Ministry of Law. We offer interest rates from as low as 2.27% per month. You should also keep a lookout for other charges that could be incurred with the loan, such as processing fees, late payment and cancellation fees. These should be ironed out in detail before taking out any loan.

2. Find a loan with a repayment period you are comfortable with

Ensure that you will have sufficient time to pay off your loans without putting additional strain on your finances. Most importantly, make sure you can manage your study loan wisely! At Goldstar Credit, we provide a flexible loan repayment period of up to 12 months.

How to apply for a study loan with Goldstar Credit

  1. You can apply online or walk in to our office. Our loan officer will do a short interview with you to understand more about your financial situation.
  2. If you have applied online, wait for a call from our loan officer to schedule an appointment with you.
  3. When coming down to our office, bring the necessary documents with you.
  4. After the interview, if your loan is approved, the loan officer will go through the loan contract with you, explaining to you the loan terms such as the interest rates and loan repayment period.
  5. Once you have signed the loan contract, the money will be disbursed to you on the spot (cash or bank transfer).
Finance your studies with ease

How to repay your study loans?

The repayment period depends on the financial institution you are taking a loan from. Most banks allow you to start repaying your study loans once you have completed your course of study, without accumulating interest until you have graduated. Some might even offer interest-free loans. With banks, the repayment period is generally up to 5 years interest-free loans and up to 20 years for interest-bearing loans. However, they often have strict requirements of the applicant’s credit history. If your bank loan is not approved, you can apply for a study loan with licensed money lenders like Goldstar Credit. Our loan repayment period is up to 12 months, and we can customise the loan terms according to your financial needs. You can make monthly instalment payments either by cash or bank transfer.

Invest in your future today

As Warren Buffett said, “The best investment you can make is in yourself.” Speak to our friendly loan officers to find out more about your different loan options and repayment schemes. Reach out to us today.  

Apply now!

We charge competitive interest rates and fees, which is why so many of our customers keep returning to us.

As a Goldstar customer, you get to enjoy:
Loan interest rates of 1-4% a month*
A maximum of 5-10% in processing fees*