FAQ
Resumption of Repayment and Interest Accrual of Government Loans
You can start your loan repayment from 1 October 2021 if you wish to do so. Nevertheless, in line with the usual repayment grace period, polytechnic graduates on Tuition Fee Loan will have up to 1 year from date of graduation to commence their loan repayment, while AU graduates will have up to 2 years to do so, without incurring any late payment interest charges.
AU and polytechnic graduates on Study Loan will have up to six months after graduation to commence their repayment without incurring any late payment interest charges. Standard interest will still accrue on all outstanding loans from 1 October 2021. The grace period for the commencement of loan repayment will start from the date of graduation and are not extended by the suspension period.
Borrowers who are already repaying their loans via GIRO before the loan suspension will have their existing GIRO arrangement with the banks reactivated from 1 October 2021. No further action is needed from you.