{"id":6563,"date":"2017-08-30T11:35:47","date_gmt":"2017-08-30T03:35:47","guid":{"rendered":"http:\/\/www.investollo.com\/?p=6563"},"modified":"2017-08-30T11:35:47","modified_gmt":"2017-08-30T03:35:47","slug":"cpf-education-scheme-nus-ntu-smu","status":"publish","type":"post","link":"https:\/\/www.areyouready.sg\/cpf-education-scheme-nus-ntu-smu\/","title":{"rendered":"CPF Education Scheme for NUS, NTU and SMU"},"content":{"rendered":"
You would probably have used the CPF Education Scheme to fund for your tertiary education in NUS, NTU or SMU. In fact, from personal experience of a local grad, people will want to exploit this scheme as an alternative to “withdraw” funds from their CPF! This comes forth from the perspective that the CPF funds\u00a0indirectly belongs to you.<\/span><\/p>\n <\/p>\n Today, besides the usual stuffs that you already knew, we are going to tell you what you did not know about the CPF Education Scheme.<\/span><\/p>\n A short introduction: The CPF Education Scheme is an education loan scheme administered by the CPF where you can utilise your parents’, relatives’, siblings’ or your own CPF’s Ordinary Account (OA) to fund your education. However, there is a cap when utilising your relatives’ CPF for the Education Scheme, as summarised succinctly below.<\/span> The interest rate is pegged to the CPF OA’s interest rate and calculated on a\u00a0<\/span>monthly<\/span>\u00a0basis.<\/span><\/p>\n Now here are the things that I bet you did not know:<\/span><\/p>\n <\/p>\n Also do you know CPF Education Scheme was championed by Dr Tan Cheng Bock<\/a>.<\/p>\n
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\n<\/span>This means that it is generally\u00a0<\/span>more cost effective<\/span>\u00a0to subscribe to school-administered education loans compared to CPF Education Loan due to the lower interest bearing period, considering that the interest rates are the same.<\/span><\/li>\n\n