Introduction
The MENDAKI Study Loan Part Time Local Degree/Diploma is available for all Muslim students. It aims to uplift the educational performance of the Muslim Community by providing interest-free loans to Muslim students who require financial aid. It helps to partly finance students who are pursuing a part-time degree or diploma course at accredited private tertiary institutions locally.
Application Period
13 January 2025 – 28 February 2025
1 April 2025 – 31 July 2025
1 September 2025 – 31 October 2025
Click here to apply
Applicants must meet the following requirements:
- Muslim Singaporeans / Singapore Permanent Residents
- Have gained an unconditional admission for a part-time diploma at any Edutrust accredited local private institution of higher learning with Edutrust and Edutrust Star certifications only. Applicants may check for their institutions’ Edutrust status here.
- Applicants will be referred to MENDAKI Care Advisors for career advisory. Applicants will be required to use up their Skills Future Credit or other related government grants before applying for MENDAKI study loan.
- Applicants are required to furnish two (2) guarantors acceptable to MENDAKI. The acceptability of the two (2) guarantors will be at the discretion of the Loans Committee. The guarantors must fulfil the following requirements:
- Singaporeans and residing in Singapore
- Between the age of 21 and 55 years old
- Basic monthly income of at least $2,000 and above, and not an undischarged bankrupt
- One out of the two guarantors must not be anyone staying in the same household
- Must not be an existing MENDAKI loan holder or existing guarantor for other MENDAKI loan accounts
- The first and second guarantor must not be from the same household
- Guarantors must submit a copy of their NRIC and recent income slip. Self-employed guarantors must submit their latest IRAS form or CPF statement
Loan Agreement
An email will be sent out to successful applicants once the loan is approved. Once the loan holder decides to accept the grant of the study loan, both loan holder and guarantors are required to electronically sign the loan agreement within one week of the date of agreement. Should the loan holder or guarantor fail to sign the loan agreement within the stipulated deadline, the conditional approval will be duly revoked and a new application for the study loan will have to be made.
As per the loan agreement, the applicant (borrower) needs to observe and fulfil the following conditions:
- Pass all subjects taken during the course of study
- No changes in the agreed period of study
- No changes in the course of study
- No withdrawal or termination from the course of study/school
- No deferment without any valid reasons
If the loan holder does not fulfil any of the above condition or any of the term in the loan agreement, he will be considered to have breached the contract of the loan agreement. The full amount of the loan would have to be repaid immediately.
Loan Quantum
| Type of Institutions |
Loan Amount for Yearly Disbursements |
Local Private Institutions
|
PCI > $750 : up to $2,500 each year
PCI ≤ $750 : up to $4,000 each year |
The loan amount is at the discretion of the Loans Committee after taking into consideration the financial circumstances of the applicant, the course of study, accreditation of institution and other relevant criteria. The decision of the Loans Committee is final.
Loan Disbursement
Loan disbursements will be made yearly to successful applicants. Applicants are required to submit a photocopy of their exam results and bank statement in MyMENDAKI portal at the end of each academic year as proof of progression to the next year of study.
Loan Repayment
Repayment of the loan will commence 1 month after the first loan disbursement at $50 per month. 6 months after the completion of your course, the repayment amount will increase to $100 monthly for diploma level, $250 monthly for normal degree level and $500 monthly for medicine courses. There will be an annual progressive increment of $100.
{Click here for more details on loan repayment}
Application Procedure
Applications can only be made online. Processing of the applications will take up to 7 weeks from complete submission of your application with the necessary attachments. Incomplete applications, applications not accepted by guarantors and applications that do not meet the eligibility criteria will not be processed. Applicants and guarantors are reminded to check your emails regularly for the progress of your application.
Enquiries? Click here to contact us
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EDU ASSISTANCE ELIGIBILITY CALCULATOR (FOR TERTIARY)
