Financial Assistance Schemes
If you are able to qualify for a place in the Polytechnic but need financial help, there are a number of financial assistance schemes to help you.
(a) Mendaki Tuition Fee Subsidy
Malay Muslim students who are Singapore citizens and who are attending a full-time course, may apply through Yayasan Mendaki for tuition fee subsidies. You can get the application forms from the Admissions Offices of the Polytechnics. Mendaki only subsidises the tuition fees. All other fees are to be borne by the students. More information can be found at http://www.mendaki.org.sg.
(b) Post-Secondary Education Account (PSEA) Scheme
The PSEA scheme helps parents save for their children's post-secondary education by maintaining a Post-Secondary Education Account (PSEA) for each eligible child. This is part of the Government's efforts to encourage every Singaporean to complete his post-secondary education. It also underscores the Government's commitment to support families in investing in the future education of their children, and to prepare them for the economy of the future. PSEA is not a bank account. It is administered by the Ministry of Education and is opened automatically for all eligible Singaporeans. More information can be found at http://www.moe.gov.sg/initiatives/post-secondary-education-account/.
(c) CPF Approved Education Scheme
Full-time students have the option of using Central Provident Fund (CPF) savings to pay the tuition fee for their course. They can use either their own CPF (if any), or savings of their parents' CPF account under the above scheme. The scheme covers only tuition fees. Other fees such as examinations, sports, and insurance fees have to be paid by the students from their own funds. More information can be found at http://mycpf.cpf.gov.sg/Members/home.htm.
(d) Tuition Fee Loan Scheme
A Tuition Fee Loan Scheme is also available to all students pursuing full-time diploma courses at the polytechnics. Under this scheme a student can apply for a loan of up to 75% of the tuition fees payable for the whole course of study.
(e) Tuition Grant Scheme
Students' education at the polytechnics is subsidised by the Government of Singapore. The Singapore Government, through the Ministry of Education (MOE) provides full-time students with tuition grants to assist them in paying the full tuition fees. Students only pay the difference between the training cost and the tuition grant - a nominal sum in relation to the recurrent cost of providing such an education.
Details of the different financial schemes are available at the website of the respective polytechnics.