Financial Assistance (Bursaries, etc.)

Financial Assistance

Bursaries

BURSARIES

Government and/or private funded bursaries are available to the following groups of students:

Government-Funded Bursaries for Full-time Diploma & PFP Students

Eligibility Criteria

Singapore Citizens
Full time diploma students with Per Capita Income (PCI) ≤ $2,250 OR Gross Household Income ≤ $9,000
PFP students with Per Capita Income (PCI) ≤ $690 OR Gross Household Income ≤ $2,750
Not a recipient of full scholarship (cover tuition fees and allowance) or sponsorship in the same academic year.
Students on Mendaki Tertiary Tuition Fee Subsidy scheme are eligible to apply.

Bursary Name	Quantum per Academic Year	Income Eligibility Criteria			Application period *(Estimated Disbursement Period)*	Disbursement Arrangement
Bursary Name	Quantum per Academic Year	Per Capita Income (PCI)	OR	Gross Household Income (GHI)		Disbursement Arrangement
Higher Education Community Bursary (HECB) Tier 1	$2,750	≤ $690		≤ $2,750	1) 13 Apr - 29 Apr 2020 (Jul/Aug 2020) 2) 22 Jun – 3 Jul 2020 (Oct/Nov 2020) 3) 12 Oct - 25 Oct 2020 (Mar/Apr 2021)	Successful applicants will be notified by a Community Centre nearest to their residential address to collect the bursary cheque. Click here for more information.
Higher Education Community Bursary (HECB) Tier 2	$2,400	$691 to $1,000		$2,751 to $4,000
Higher Education Bursary (HEB) Tier 1	$1,900	$1,001 to $1,725		$4,001 to $6,900	1) 13 Apr - 29 Apr 2020 (Jul-2020) 2) 22 Jun – 3 Jul 2020 (Oct-2020) 3) 12 Oct - 25 Oct 2020 (Jan-2021)	Bursary will be used to offset any outstanding fees before disbursement of any balance. Click here for more information.
Higher Education Bursary (HEB) Tier 2	$850	$1,726 to $2,250		$6,901 to $9,000
Diploma Foundation Programme (DFP) Bursary	$970	≤ $690		≤ $2,750

Private-Funded Bursaries for Full-time Diploma Students

Eligibility Criteria

Singapore citizens or Singapore Permanent Residents
Full time diploma students with Per Capita Income (PCI) ≤ $2,250 OR Gross Household Income ≤ $9,000
Not a recipient of full scholarship (cover tuition fees and allowance) or sponsorship in the same academic year.

Bursary Name

Quantum per Academic Year

Income Eligibility Criteria

Application period

(Estimated disbursement period)

Disbursement arrangement

Per Capita Income (PCI)

Gross Household Income

(GHI)

Private-Funded Bursaries

Ranges from $500 to $3,500

≤ $2,250

≤ $9,000

12 Oct - 25 Oct, 2020

(Jan 2021)

Bursary will be used to offset any outstanding fees before disbursement of any balance.

Click here for more information.

How to apply

1. Apply online at Student Portal

2. Go to BursaryEbox to upload the declaration form and scanned documents prepared in steps below within FIVE days after applying online:

A) Fill up the Declaration Form

B) Prepare and scan the relevant supporting documents to be uploaded. To ensure that the documents are clearly captured, we recommend the use of Microsoft Office Lens – PDF Scanner (recommended app to use for scanning the documents- refer to step-by-step guide

Note

Full-time diploma students who need financial assistance are encouraged to apply for bursary as early as possible. Some private donor bursaries will be available as a top up bursary in early semester 1 (Apr to Jun) and will be awarded to selected government bursary recipients.
Applicants are to submit only ONE application in any application period, and they are not required to specify the bursary type or bursary name in the application.

Siblings studying in NYP and applying for bursary are strongly encouraged to submit their supporting documents together.
Students who are successfully in their applications will receive only ONE bursary in the academic year, be it a government or private funded bursary.

• Bursary award is tenable for one academic year only. Students will have to submit a new application if they wish to be considered for the bursary again in the subsequent academic year.

Students are to remain contactable via NYP email or mobile phone number after submission. NYP bursary team will contact you if further clarifications are required.

Study Loan Scheme

Who are eligible and how much can I loan up to?

All full-time subsidised diploma students (not applicable to Polytechnic Foundation Programme students) wh o are Singapore Citizen or a Permanent Resident of Singapore can apply for the loan which comprises of TWO components:

Component A: A loan of up to 25% of tuition fees payable

Student must already be on one of the following 4 schemes to cover at least 75% of tuition fees:

Tuition Fee Loan Scheme
CPF Approved Education Scheme
Mendaki Tertiary Fee Subsidy Scheme
Post Secondary Education Account (PSEA)

Component B: A loan of up to $2,000 for any 2 consecutive semesters to meet living expenses

Applications for Component B alone are permissible only if tuition fees have been paid in full. If you have tuition fees of up to 25% still owing to the Polytechnic at the point of application for the above, you will have to apply for Component A first before applying for Component B.

Will I be charged interest?

Your family income determines which loan (interest-free/with interest) you will be awarded.

Tier 1 (Interest-free)	Tier 2 (With Interest)
@Gross Monthly Per Capita Family Income Ceiling	@Gross Monthly Per Capita Family Income Ceiling
≤ $950	≤ $2,700

@: Gross Income of all family members in the same household / No. of Dependents in same household

Interest on the Tier 2 loan will be charged upon graduation at the same rate as the Tuition Fee Loan Scheme; i.e., average of prime rate of DBS, OCBC and UOB.

What is the repayment period and when do I start to pay?

The repayment of the loan can be made in one lump sum payment or by monthly instalments commencing 6 months after graduation or on graduate securing employment, whichever is earlier. Students who are required to perform National Service are however allowed to commence repayment of the loan 2 months after ORD.

The maximum repayment period in respect of the loans under the 2-tier loan system is:
Tier 1 (interest-free): 2 years
*Tier 2 (with interest): 5 years

The minimum monthly instalment payment is $100. Penalty interest will be charged at the rate of 1% per month on instalments in arrears.

If a student leaves the Polytechnic without completing the course of study, the loan amount will immediately become due and payable. He may repay the outstanding sum by monthly instalments on such terms and conditions as the Polytechnic may, on a case-by-case basis, determine.

The repayment of instalment amounts shall be made through Interbank GIRO.

Where can I obtain an application form?

Please apply online by clicking here.

Student Support