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Financial Matters

1. How much will be refunded to me if I apply for a leave of absence after the start of term?

Students who need to manage long-term health, family or personal problems may apply for LOA from their studies. The LOA is usually for duration of one term, commencing from Term 1 or Term 2.

Longer extensions may be considered in special circumstances. However, with effect from Academic Year 2009-10, please note that the cumulative total of requests for LOA (including leave taken to-date) cannot exceed 4 regular terms.

Students are required to remain contactable while on LOA. Students who repeatedly do not respond to the university's attempts to contact them (e.g. via official email, phone) are liable to have their student registration status terminated. Accordingly, they will be withdrawn from the university.

Refund Policy

If the LOA is effected within the first 2 weeks of the term, there will be 100% refund of that term tuition fees paid*. If the LOA is effected from week 3 onwards, there will be no refund**.

The effective date for all applications will be based on the application date. Students who are granted LOA must settle all outstanding fees at Office of Finance before going for their leave.

The above refund policy applies whether you are enrolled in Term 2 or Modified Term 2 or both.

* Students are liable to pay fees upon commencement of an academic school term.

** Students will have to clear any outstanding amounts due.

 

2. How much will be refunded to me if I withdraw after the start of term?

A formal withdrawal must be filed with the Registrar. The effective date of an immediate withdrawal is the date of the receipt of the formal withdrawal letter/form. No courses or grades for that term will appear on the record of the student, if the withdrawal takes place before the University final written examination. Grade(s) for the registered course(s) will be recorded and reflected in the transcript, if the withdrawal takes place after the University final written examination has begun. The rules for refund of tuition fees are as follows, based on the effective withdrawal date.

Refund Policy

If the withdrawal is effected within the first 2 weeks of the term, there will be 100% refund of that term tuition fees paid*. If the withdrawal is effected from week 3 onwards, there will be no refund**.

The above refund policy applies whether you are enrolled in Term 2 or Modified Term 2 or both.

* Students are liable to pay fees upon commencement of an academic school term.

** Students will haveto clear any outstanding amounts due including student loans.

The university also reserves the right to initiate withdrawal in any of the following cases:

  1. A student who skips classes for an extended period of 3 weeks or longer within a term (please see Class Attendance) will be deemed to have withdrawn from the university.
  2. A student who has not completed the coursework requirements and is not on approved leave of absence (please see Leave of Absence) will be deemed to have withdrawn from the university, if there are no courses enrolled after BOSS 2A (third week) of the regular term.
  3. A student who has completed the coursework requirements but not the non-coursework requirement(s) will be deemed to have withdrawn from the university, if the outstanding non-coursework requirement(s) is/are not in progress by the next regular term.

 

3. Will my fees be adjusted if I have changed my nationality/citizenship?

The effective date will be the date which students present their official documents to Office of Registrar. Any adjustment on the tuition fees will be made if the effective date falls before the start of academic term. Otherwise, the fee adjustment will take effect from the following academic term(s).

4. When do I have to pay my term fees or where can I view my Online Statement of Account?

Students will be notified via email of any charges (and its payment due date) posted to their online Statement of Account. Students may view their online Statement of Account by logging in to OASIS> Personal & Finances> Account> Account Inquiry.

5. Are the annual fees compulsory?

The Annual Fees are compulsory for all matriculated students and will be charged in every Term 1 of each new Academic Year, together with the Term 1 Tuition Fees. Annual Fees are subjected to vary yearly.

6. Is there any fees difference if I am on a double degree programme?

Students on a double degree programme will be required to pay the higher tuition fee if both degree programmes are priced differently.

7. Will my fees be affected if I change my primary program in year 2?

If you are applying to change your primary degree programme in year 2, you shall be liable for payment of the prevailing rate of tuition fees applicable to the new programme if approved. National Servicemen will lose the fee privilege granted for admission to the previous programme.

The Office of Registrar will inform you on the outcome of your application.

 

8. What are the financial assistance schemes available to the undergraduates?

There are several financial assistance schemes available at SMU to assist undergraduates in managing their educational expenses, from financing of tuition fees, daily expenses to participating in overseas student programmes.

Please click HERE for further details.

9. Am I allowed to receive a scholarship and a bursary in the same year?

Generally, concurrent receipt of two awards in the same year of study may not be allowed.  However, this may vary between awards.  You would need to refer to the eligibility criteria and/or the terms and conditions of award.  If you wish to seek further clarification, you may send your email to the Centre for Student Financial Assistance (finasst@smu.edu.sg), providing details of the schemes you are enquiring on.

10. If I am approved of my application for leave of absence, can I still apply for bursary?

You are not restricted to apply for bursary should you be contemplating to apply for leave of absence.  Your bursary application, if approved, is awarded for one year of your academic studies.  Payment is made in each regular term of your study and subject to you being in active term of study.

11. If I am approved of my bursary application this year, do I need to submit a new application for my subsequent year of study?

Generally, a bursary is tenable for one year of the recipient’s academic studies.  To continue to receive such financial assistance, a new application is required to consider the applicant’s eligibility for a subsequent year’s award.

12. I am receiving a number of financial aid(s) for my tuition fee, in what order will my tuition fee be deducted?

Your tuition fee will be deducted by the following order of priority as stipulated by MOE.

(With 1 being the highest priority and shall be disbursed first)

13. If I am approved of financial assistance by the University, how would the money be paid to me?

Payments from the University to the students are managed via interbank giro.  You must, therefore, register your receiving bank account information with the University.  A bank account registered and not belonging to you (singly or you not being a joint account holder) will not be accepted.

14. How do register my receiving bank account information to receive payment from the University?
If you are a successful applicant who have accepted SMU's offer and are required to register as a student of the University, you must complete the “Update Bank Information” activity, one of the registration formalities required of all students commencing their studies in August.
 
If you are a matriculated student, proceed to login to OASIS (select “Personal & Finances” tab) with your assigned student computer account to register your receiving bank account information
15. I have applied for Financial Aid(s) (e.g. Mendaki, CPF Loan, Tuition Fee Loan, Study Loan, Post Secondary Education Account) and/or Scholarship(s) before the start of term. Why is it not shown in my statement of Account? Do I need to pay on due date?

The approved Financial Aid(s) and/or Scholarship(s) payments will be posted to your online Statement of Account in due course depending on the approval date. If the Financial Aid(s) and/or Scholarship(s) do not cover 100% of your Tuition Fees, please arrange for the remaining balance to be paid by the other available payment modes below.

Please take note that you are still required to pay the mandatory Annual Miscellaneous Fees if it is not covered by any of your Approved Financial Aid(s) and/or Scholarship(s).

16. What is the maximum loan quantum I can obtain for Tuition Fee Loan (TFL) and Study Loan (SL)?

Tuition Fee Loan (TFL) finances up to 90% of the subsidized tuition fee payable by Singaporean students.  Subject to meeting the eligibility criteria, a student may apply to Study Loan (SL) to finance the remaining 10% and/or annual living allowance of $3,600.

For further information and application, please go to: http://www.smu.edu.sg/about/financial/tuition-fee-financing-loan-schemes

17. If I am approved of my application for Tuition Fee Loan and Study Loan, do I need to submit a new application for my subsequent year of study?

Application for financing under the Tuition Fee Loan and Study Loan Schemes is one-time only.  If you are approved of your application, you do not need to submit a new application in your subsequent year of study.  Once granted, the financing will take effect from the approved term and shall remain for the remaining tenure of your course of study (including summer term).

18. I qualify for Tuition Fee Loan and Study Loan. However, I still require further financial assistance to pay my tuition fee/living expenses. Is there another loan scheme I can consider?

If you have exhausted your means under the TFL and SL schemes and would still require further financial assistance, you may consider the SMU Education Loan.

For further information and application, please go to: http://www.smu.edu.sg/about/financial/smu-education-loan

19. How do I make tuition fees and miscellaneous charges payment and what are the available payment modes?

Students are encouraged to pay their fees through Interbank GIRO. The application for payment by Interbank GIRO is secured and convenient by logging in to OASIS> Personal & Finances> Maintain Bank Accounts> Account> Debit Bank Account.

Please note that deduction of term fees through Interbank GIRO will only commence from the term following the current term of application for the successful applicants. Thereafter payment will be debited automatically from your designated bank account on the payment due date of the charges. In the meantime, while waiting for your application to be processed, please arrange for payment by the other available payment modes below:

Payment by Cheque

All cheque payment shall be made payable to “SMU” and in Singapore Dollars only. Please indicate clearly your Full Name, Matriculation Number (NRIC/SMU/Campus ID Number) and Contact Number on the back of the cheque and deposit it into the Finance drop box available below.

  • 1st or 12th floor, Administrative Building

Any fee-related forms which address to Finance can be deposited in the two drop boxes available at the above mentioned locations. Please note that no cash payment is to be deposited into the drop box. Finance personnel will collect from the boxes every morning of the working day.

Payment by Online Credit Card

Only Visa or Mastercard will be accepted. Credit Card payment is subject to the credit limit as granted by your bank. Please log in to OASIS> Personal & Finances> Account> Account Inquiry or Make a Payment page to view and make payment online via your credit card.

20. When and how do I make loans repayment and what are the available payment modes?

Repayment of loans starts upon your graduation according to your Terms and conditions per your signed loan agreement. You will be notified upon graduation on your loan repayment commencement. You will need to fill up a reply slip to submit your payment instructions to Office of Finance. Please be reminded that all payments by cheque/cashier’s order must be accompanied with a reply slip for each loan.

PAYMENT METHODS ARE AS STATED BELOW:

1.   PAYMENT BY CHEQUE/CASHIER’S ORDER

All cheque payment shall be made payable to “SMU” and in Singapore Dollars only. Please indicate clearly your Full Name, Matriculation Number (NRIC/FIN/Campus ID Number),  loan account number and Contact Number on the back of the cheque and

Deposit it into the Finance drop box available below:
Level 1 or 12, SMU Administration Building (to the left of the main entrance) 
Finance personnel will collect from the boxes every morning of the working day.

Mail it to

Singapore Management University
Office of Finance
Level 12
SMU Administration Building
81 Victoria Street
Singapore 188065

Finance Counter

Operating hours: 11 am to 2 pm, Tuesdays to Thursdays (except public holidays)

 

2.   PAYMENT BY GIRO

If you have maintained bank account with POSB/DBS you may apply for GIRO Online or via NETS terminal at Office of Finance. If you do not have POSB/DBS account, you may fill up the manual GIRO form. Please be informed that manual GIRO application will take about 1 month to take effect.

o    Instructions on Giro Application via DBS internet Banking

o    Select "Payments", "GIRO: Manage GIRO Arrangements" and “Add GIRO Arrangement”.

o    Under "From Account", choose your preferred account for this payment.

o    Under "To Billing Organisation", select the “SMU”.

o    Under "Bill Reference No.", please key in your Campus ID in BLOCK LETTERS and alphanumeric (e.g. S1234567X / G0123456X) for the Billing Organisation. For the explanatory guide on "Bill Reference No", please click "View More Info".

o    Under "Payment Limit", please key in "0".

o    Click "Submit".

o    Check your information again before you click "Confirm".

o    When you get to the next page, please wait for the OTP (one-time password) to be sent to you through SMS. Key the OTP into your token and follow the instructions given on the website.

o    After submitting the OTP, the GIRO arrangement is then complete.

21. May I know the type of fees and the exact outstanding amount I have to pay for the term?

Students will be notified via email of any charges (and its payment due date) made to their online Statement of Account. Students may view their online Statement of Account for details on the charges and its outstanding amount by logging in to OASIS> Personal & Finances> Account> Account Inquiry.

22. I need to purchase a notebook computer. Are there loan schemes which I can apply for?

You may apply to the SMU Student Computer Loan which seeks to assist students with financial needs in acquiring a notebook computer from one of the University-appointed Notebook Vendors for their study activities.

For further information and application, please go to: http://www.smu.edu.sg/about/financial/student-computer-loan

23. I'm interested to apply for the SMU Student Computer Loan. However, can I purchase the notebook computer from other sources?

The SMU Student Computer Loan requires the applicant to purchase the notebook computer from one of the University-appointed Notebook Vendors.

For information on the Notebook Vendors, please go to: http://iits.smu.edu.sg/service/annual-pc-and-notebook-bulk-tender

24. If I'm being approved of the SMU Computer Loan, when would I receive the money?

The approved loan amount will not be disbursed to you.  The University will settle your invoice on your behalf with the Notebook Vendor, subject to maximum of the approved amount.  You will be given a Letter of Approval indicating the approved loan amount on the day you and your guarantor sign your loan agreement with SMU. This Letter of Approval is to be handed over to the Notebook Vendor with both parties duly acknowledging the release and receipt of the notebook computer.

In the event your invoice value is higher than the approved loan amount, the excess is at your responsibility to settle with the Notebook Vendor.