SMU Infographics: Financial Aid Guide 2014

SMU SINGAPORE MANACHINT LUNIVERTY FINANCIAL AID2014 For Undergraduate Students NO DESERVING STUDENTS WILL BE DENIED AN SMU EDUCATION BECAUSE OF FINANCIAL DIFFICULTY Accountancy • Business Economics Information Systems Law • Social Sciences SMU NO DESERVING UNDERGRADUATE STUDENTS WILL BE DENIED AN SMU EDUCATION BECAUSE FINANCIAL DIFFICULTY We have in place a comprehensive financial initiative to help students meet their tuition fees and living expenses. Students will be offered financial aid as long as they meet the stipulated minimum requirements. Through this, we hope that you will have the peace of mind to focus on your studies at SMU. UNDERSTANDING THE FINANCIAL AID PROCESS IS SIMPLE AND INVOLVES ONLY 3 STEPS 1 2 KNOW THE DIFFERENT TYPES OF FINANCIAL AID CНECK IF YOU QUALIFY FOR FINANCIAL AID HOW TO APPLY FOR FINANCIAL AID KNOW THE DIFFERENT TYPES OF FINANCIAL AID Know and understand the different types of financial aid before you begin your financial planning. You may apply through a combination of these schemes, subject to meeting the conditions and criteria. TYPES OF FINANCIAL AD TUITION FEE LOAN MINIMUM REPAYMENT SUM PER MONTH. MAXIMUM REPAYMENT PERIOD: $100 20 YEARS • Guaranteed for all students paying subsidised tuition fees • Loan covers up to 90% of the subsidised tuition fees payable by Singapore citizens * Monthly per capita income (PCI)= Total monthly gross family income/ Tatal number of family members • Interest-free loan while studying at SMU CPF EDUCATION SCHEME STUDY LOAN MINIMUM REPAYMENT MINIMUM REPAYMENT SUM PER MONTH MAXIMUM REPAYMENT PERIOD. SUM PER MONTH REPAYMENT PERIOD. $100 12 YEARS $100 20 YEARS • Loan scheme allowing students to use their own CPF savings or that of their parents lo pay for their tuition fees • For needy students who have taken up the Tuition Fee Loan • Monthly per capita family income (PCI)" of not more than $2.400 for Singapore citizens and permanent residents: not more than $1.200 for foreign nationals • Loan covers the remaining 10% of subsidised tuition fees • Annual allowance of $3.600 to cover living expenses • Interest-free loan while studying at SMU SMU FINANCIAL GRANT MAXIMUM BURSARY AMOUNT: MONTHLY PER CAPITA FAMILY INCOME (PCI)": $1,500 $850 and below $1,200 $351-$1.200 $1.000 $1.201-$1.7:0 • For needy students who have utilised all available loan schemes or subsidies, and with per capita income (PCI)* of not more than $1,700 • Bursary is tenable for one year of study • No repayment is required if student completes studies MENDAKI TERTIARY TUITION FEE SUBSIDY • Open to Malay students who are Singapore citizens SUBSIDY QUANTUM: MONTHLY PER CAPITA FAMILY INCOME (PCI)": • Monthly per capita income (PCI)* of not more than $1,500 100% $1,000 and below • Subsidy covers 50%, 75% or 100% of annual subsidised tuition fees, depending on family income 75% $1,001-$1,200 50% $1.201-$1,500 • No repayment is required SMU EDUCATION LOAN MAXIMUM REPAYMENT PERIOD: MINIMUM REPAYMENT SUM PER MONTH: $100 3 YEARS • For needy students who have utilised all loan schemes and with monthly per capita income (PCI)* of not more than $2.400 •L:aris terable for cne year of study • Interest-free loan while studying at SMU SMU WORK-STUDY GRANT • For needy students who require further financial aid to finance their studies and/or overseas exposure trips • Up to $2,400 for 200 hours of work • No repayment is required