CPF Education Scheme

Use your CPF Ordinary Account to finance tertiary education at approved institutions. Help yourself or your children pursue higher education.

Eligible Institutions Book Consultation

CPF Education Scheme Overview

The CPF Education Scheme allows CPF members to use their Ordinary Account (OA) savings to pay for their own or their children's approved tertiary education in Singapore. It's an interest-free way to finance education during the study period.

40%

Max withdrawal from OA balance

0%

Interest during study period

12 Years

Max repayment period

Who Can Use This Scheme?

  • Use your own CPF OA for your own education
  • Use your CPF OA for your child's/adopted child's education
  • Use your spouse's CPF OA (with consent) for your child's education

Eligible Institutions & Courses

Approved Local Institutions

Universities

  • National University of Singapore (NUS)
  • Nanyang Technological University (NTU)
  • Singapore Management University (SMU)
  • Singapore University of Technology and Design (SUTD)
  • Singapore Institute of Technology (SIT)
  • Singapore University of Social Sciences (SUSS)

Polytechnics

  • Singapore Polytechnic
  • Ngee Ann Polytechnic
  • Temasek Polytechnic
  • Nanyang Polytechnic
  • Republic Polytechnic

Approved Courses

  • Full-time diploma courses at polytechnics
  • Full-time undergraduate degree courses
  • Approved postgraduate courses (some)

Not Eligible

  • Overseas institutions (generally not covered)
  • Private education institutions (most not covered)
  • Part-time courses (generally not covered)
  • Short courses and certificates

Check with CPF Board for the latest list of approved institutions and courses.

Withdrawal Limits

Scenario Withdrawal Limit
Using own CPF for own educationUp to 40% of OA balance at time of withdrawal
Using CPF for child's educationUp to 40% of OA balance at time of withdrawal
Combined (if using for multiple children)40% limit applies to each withdrawal request

What Can Be Paid?

  • Tuition fees (main component)
  • Compulsory fees charged by the institution
  • Does NOT cover: Living expenses, books, transport, accommodation

Example Calculation

If your CPF OA balance is $100,000, you can withdraw up to $40,000 for education. If annual fees are $10,000 for a 4-year course ($40,000 total), you'd be able to cover the full amount using CPF.

Repayment Rules

During Study Period

  • No interest charged on the amount withdrawn
  • No repayment required during study

After Graduation/Leaving School

  • Interest starts accruing at CPF OA rate (currently 2.5% p.a.)
  • Must repay principal + interest within 12 years
  • Repayment goes back to the CPF account that was used

Repayment Methods

  • Cash repayment to CPF OA
  • Transfer from own CPF OA (for child's education loan)
  • Automatic deduction from monthly CPF contributions (if arranged)

How to Apply

1

Check Eligibility

Verify that the institution and course are approved under the CPF Education Scheme. Check with the institution or CPF Board.

2

Check OA Balance

Ensure you have sufficient OA balance. Remember the 40% withdrawal limit.

3

Apply Through Institution

Most approved institutions have a CPF education application process. Apply through the school's financial aid office.

4

CPF Processes Withdrawal

CPF Board will process the withdrawal and pay the institution directly for tuition fees.

Direct Payment

CPF pays the institution directly. You don't receive the money in cash. This ensures the funds are used for education purposes only.

Frequently Asked Questions

Can I use CPF for overseas education?

Generally no. The CPF Education Scheme is primarily for approved local institutions in Singapore. Some exceptions may apply for specific programs. Check with CPF Board.

What if I drop out of school?

You must still repay the amount withdrawn plus accrued interest. The repayment schedule will be based on when you left school.

Can I use CPF for postgraduate studies?

Some approved postgraduate courses are covered. Check with the institution and CPF Board for the specific course eligibility.

What if I can't repay?

The debt remains and interest continues to accrue. It affects your CPF savings available for retirement and housing. Contact CPF Board to discuss repayment options if facing difficulties.

Should I use CPF for education or take a bank loan?

CPF Education Scheme has no interest during study and lower interest after (2.5% vs bank rates of 4-6%). However, using CPF reduces your retirement savings. Consider your overall financial situation and future earning potential.

Sources and further reading

Official sources and references for rules, rates, and schemes discussed on this page. Numbers on this site may be rounded or illustrative; confirm current terms with the relevant agency, CPF Board, insurer, or lender.