If you’re a student in Singapore, you may be aware of the various financial assistance schemes available to you. One such scheme is the Yayasan Mendaki Study Loan, which aims to provide interest-free loans to Muslim students who require financial aid. This loan is designed to uplift the educational performance of the Muslim community in Singapore.
To be eligible for the Yayasan Mendaki Study Loan, you must be a Muslim Singaporean or Permanent Resident enrolled in a full-time diploma or degree course in a local institution. You must also have a household income of less than $4,000 per month or a per capita income of less than $1,500 per month. The loan covers tuition fees, textbooks, and living expenses.
If you’re considering applying for the Yayasan Mendaki Study Loan, the application process is straightforward. You’ll need to submit your application online and provide supporting documents such as your NRIC, academic transcripts, and income statements. Once your application is approved, you’ll be required to sign a loan agreement and attend a briefing session.
Key Takeaways
- The Yayasan Mendaki Study Loan provides interest-free loans to Muslim students in Singapore who require financial aid.
- To be eligible, you must be a Muslim Singaporean or Permanent Resident with a household income of less than $4,000 per month.
- The application process is straightforward and requires supporting documents such as your NRIC, academic transcripts, and income statements.
Understanding Yayasan Mendaki Study Loan
If you are a Singaporean student looking for financial assistance to pursue a full-time diploma or degree course, the Yayasan Mendaki Study Loan might be the solution you need. The loan is interest-free and open to all Muslim Singaporeans and permanent residents.
Yayasan Mendaki is a non-profit organization that aims to uplift the educational performance of the Muslim community in Singapore. The organization provides various forms of financial assistance to eligible students, including the Mendaki Study Loan.
The Mendaki Study Loan is an interest-free loan scheme that is available to all Muslim Singaporeans and permanent residents. The loan is designed to help students pursue full-time diploma or degree courses in Singapore or overseas. The loan covers tuition fees, living expenses, and other related expenses. The loan amount varies depending on the needs of the student.
To be eligible for the Mendaki Study Loan, you must meet certain criteria. You must be a Muslim Singaporean or permanent resident, and you must have been accepted into a full-time diploma or degree course in Singapore or overseas. You must also demonstrate financial need and academic potential.
In conclusion, the Yayasan Mendaki Study Loan is a great opportunity for Muslim Singaporean students who require financial assistance to pursue their education. The interest-free loan covers tuition fees, living expenses, and other related expenses. If you meet the eligibility criteria, you should consider applying for the loan to help you achieve your academic goals.
Eligibility and Application Process
If you are a Singaporean Muslim student looking for financial assistance to pursue your full-time diploma or degree course of study at a local government tertiary institution, the Yayasan MENDAKI Study Loan Full-Time (Local National) might be the answer to your prayers.
Here is what you need to know about the eligibility criteria and application process for the study loan:
Criteria for Eligibility
To be eligible for the study loan, you must meet the following criteria:
- You must be a Singaporean citizen or a Singapore Permanent Resident.
- You must have gained an unconditional admission for a full-time diploma or degree at a local government tertiary institution.
- You must not be receiving financial assistance under the Tertiary Tuition Fee Subsidy (TTFS) or the Supplementary Assistance Loan Scheme (SAS).
- You must have a guarantor who is a Singaporean citizen, residing in Singapore, between the ages of 21 and 55 years old, with a basic monthly income of at least $2,000 and not an undischarged bankrupt.
- You must maintain satisfactory educational performance throughout the course of study.
Application Procedure and Timeline
You can apply for the study loan online at the Yayasan MENDAKI website during the application period. The application period usually opens in April and closes in June.
Make sure you submit a complete application with all the required documents, including your NRIC, admission letter, and tuition fee statement. Incomplete applications will not be processed.
Once your application is approved, you will be required to sign a loan agreement with Yayasan MENDAKI. The loan quantum and disbursement will be based on the yearly disbursements from the Education Trust Fund.
Loan Quantum and Disbursement
The study loan offers interest-free loans of up to $10,000 per academic year for full-time diploma courses and up to $15,000 per academic year for full-time degree courses. The loans are disbursed directly to the tertiary institution.
Guarantor and Repayment Terms
Your guarantor will be required to sign the loan agreement with you and will be responsible for the loan repayment if you are unable to do so. The loan repayment can be made through DBS/POSB GIRO or by cheque.
You will be required to submit your CPF statement annually to ensure that you are not exceeding the loan quantum. The loan repayment period is up to 10 years after graduation.
Support Beyond Loans
In addition to the study loan, Yayasan MENDAKI also offers scholarships, bursaries, and other forms of financial aid to eligible students. You can contact the organisation for more information.
Important Contacts and Locations
If you have any questions or need assistance with your application, you can contact Yayasan MENDAKI at:
- Tel: 6551 2842
- Email: [email protected]
You can also visit the Yayasan MENDAKI headquarters at Wisma MENDAKI, located at 51 Kee Sun Avenue, Singapore 457056. Other locations include Suratman Markasan and Kongres MENDAKI.
Now that you know the eligibility criteria and application process for the study loan, you can take the first step towards achieving your educational goals with the support of Yayasan MENDAKI.
Additional Financial Aid and Subsidies
If you require additional financial aid to pursue your education, Yayasan Mendaki offers several options beyond the Study Loan Full-Time (Local National) programme. These options include the Tertiary Tuition Fee Subsidy (TTFS) and Supplementary Assistance Loan Scheme (SAS).
The Tertiary Tuition Fee Subsidy (TTFS) is designed to provide financial assistance to Malay Singaporeans and Singapore Permanent Residents who are pursuing diploma or degree courses at local polytechnics and universities. The subsidy is available to students who are not receiving any subsidy or are in receipt of partial subsidy (75% and 50%) under the TTFS. The amount of subsidy provided is based on the course fees payable by the student after deducting any other grants or subsidies received.
In addition to the TTFS, Yayasan Mendaki offers the Supplementary Assistance Loan Scheme (SAS). This scheme provides interest-free loans to students who are eligible for the TTFS but require additional financial assistance to cover their education expenses. The loan amount is up to $5,000 per academic year and is repayable in monthly instalments over a period of up to 5 years.
If you are pursuing a part-time diploma or degree course, you may also be eligible for the Study Loan Part-Time Diploma or Study Loan Part-Time Degree programmes offered by Yayasan Mendaki. These programmes provide interest-free loans to students who require financial aid to cover their education expenses.
Yayasan Mendaki also offers the Study Loan Full-Time Degree (Overseas) programme for students who are pursuing their degree courses overseas. The loan amount is up to $50,000 per academic year and is repayable in monthly instalments over a period of up to 10 years.
Overall, Yayasan Mendaki provides a range of financial assistance options to help you pursue your education and achieve your career goals. Whether you are studying at a local polytechnic or university, or pursuing your degree overseas, there are options available to help you fund your education and achieve your dreams.
Community Impact and Success Stories
If you are a student in Singapore looking for financial aid to pursue your education, Yayasan Mendaki’s Study Loan might be the perfect solution for you. Not only does it provide interest-free loans to Muslim students who require financial aid, but it also aims to uplift the educational performance of the Muslim community in Singapore.
The mission of Yayasan Mendaki is to empower the Malay/Muslim community in Singapore through education and lifelong learning. The organization has been successful in achieving this mission by providing various educational programs and initiatives that have helped students achieve their academic goals.
One of the most significant impacts of Yayasan Mendaki’s Study Loan is the success stories of its beneficiaries. Many students who have received the loan have gone on to achieve great success in their careers and personal lives. The loan has helped them overcome financial barriers and pursue their dreams of higher education.
Parents of students who have received the Study Loan have also reported positive impacts on their families. The loan has allowed their children to pursue higher education without the financial burden that would have otherwise been a significant obstacle to their success.
Yayasan Mendaki’s Study Loan has also had a positive impact on the Masyarakat Melayu/Islam community in Singapore. It has helped uplift the educational performance of the community by providing financial aid to those who need it the most. The loan has also encouraged many students to pursue higher education, which will undoubtedly benefit the community in the long run.
In conclusion, Yayasan Mendaki’s Study Loan has been a significant contributor to the success of many students in Singapore. Its mission to uplift the educational performance of the Malay/Muslim community in Singapore has been successful, and its impact has been felt by many families and the community as a whole. If you are a student in Singapore looking for financial aid to pursue your education, the Study Loan provided by Yayasan Mendaki might be the perfect solution for you.
Navigating Changes and Challenges
When it comes to pursuing higher education, changes and challenges are inevitable. Fortunately, with the Yayasan MENDAKI Study Loan, you can navigate these obstacles with ease.
One of the most common challenges that students face is financial circumstances. If you find yourself struggling to pay for your education, the Study Loan can help. With an interest-free loan, you can focus on your studies without worrying about the financial burden.
Another challenge that students may encounter is the need to withdraw or defer their studies. While this can be a difficult decision, the Study Loan provides flexibility in such situations. If you need to take a break from your studies, you can defer your loan repayment until you resume your studies.
Planning and commitment are also crucial when pursuing higher education. With the Study Loan, you can plan for your studies without worrying about financial constraints. Furthermore, the loan agreement requires you to maintain your commitment to your studies by passing all subjects and completing your course of study within the agreed period.
The Study Loan is available for students pursuing full-time degree courses at government or accredited private tertiary institutions. This means that you can pursue your education at the institution of your choice, without worrying about the financial burden.
Finally, the Study Loan is also available for students who wish to pursue their studies overseas. This provides an excellent opportunity to broaden your horizons and gain valuable experience in a different environment.
In conclusion, the Yayasan MENDAKI Study Loan is an excellent option for those who wish to pursue higher education without worrying about financial constraints. With flexibility, commitment, and planning, you can navigate changes and challenges with ease.
Conclusion
Congratulations! You now know all about the Yayasan Mendaki Study Loan in Singapore. This interest-free loan is available to all Muslim Singaporeans and permanent residents who are pursuing full-time diploma or degree courses at government or accredited private tertiary institutions.
By taking advantage of this loan, you can pursue your academic goals without worrying about financial constraints. The loan is flexible, and you can use it to cover various expenses such as tuition fees, living expenses, and study materials.
Remember, the Mendaki Study Loan is just one of the many resources available to you in Singapore. Make sure you explore all your options and find the best fit for your needs.
We hope you found this guide helpful and informative. If you have any questions or concerns, don’t hesitate to reach out to Yayasan Mendaki for more information. Good luck on your academic journey!
Frequently Asked Questions
Who is eligible to apply for the MENDAKI Study Loan in Singapore?
The MENDAKI Study Loan Scheme is open to all Muslim Singaporeans and Singapore permanent residents who require financial aid to pursue their full-time or part-time diploma or degree courses at government or accredited private tertiary institutions.
Can I apply for a MENDAKI Study Loan for a private educational institution?
No, the MENDAKI Study Loan Scheme is only applicable for students who are pursuing their studies at government or accredited private tertiary institutions in Singapore.
How can I get in touch with MENDAKI for study loan enquiries?
You can contact MENDAKI through their official website or call their hotline at +65 6245 5555. Alternatively, you can visit their office at 51 Kee Sun Avenue, Singapore 457056 during their operating hours.
Is it possible to use the MENDAKI Study Loan for studying abroad?
No, the MENDAKI Study Loan Scheme is only applicable for students who are pursuing their studies at government or accredited private tertiary institutions in Singapore.
Are part-time students eligible for the MENDAKI Study Loan Part-Time Scheme?
Yes, the MENDAKI Study Loan Part-Time Scheme is open to all Muslim Singaporeans and Singapore permanent residents who require financial aid to pursue their part-time diploma or degree courses at government or accredited private tertiary institutions in Singapore.
What are the repayment terms for the MENDAKI Study Loan?
The MENDAKI Study Loan Scheme is an interest-free loan scheme. You are required to start repaying the loan six months after graduation or upon securing employment, whichever is earlier. The loan must be fully repaid within five years from the date of disbursement. The repayment amount is based on a fixed monthly instalment, which includes both the principal loan amount and the administrative charges.
We hope that these frequently asked questions have answered some of your queries on the MENDAKI Study Loan Scheme in Singapore.