Overseas Education Loan

Lending Bee® overseas education loan helps you finance your child’s worldwide recognised degree abroad. We offer unsecured loans up to $300,000 SGD with longer loan tenures.

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What is an Overseas Education Loan?

The idea of furthering your studies overseas can be extremely thrilling. Your child gets to experience a different life out of Singapore, meet new friends and more importantly, experience what it is like to study in well-known institutions across the globe.


All this excitement also comes at a hefty cost. Overseas education costs go well into the six figures, and few can afford this just from their pocket.


This is why an overseas education loan can be a huge lifesaver.


An overseas education loan is a form of an education loan which helps your child fulfil his / her dreams of studying overseas. You will be able to use it to cater to your child’s tuition fees and living expenses overseas, amongst other things.


This way, your child will receive the education that they have always dreamed of, and you can pay for that education slowly over time.


Benefits of an Overseas Education Loan with Lending Bee®

Our overseas education loan stands out as we provide our borrowers with a wide range of unique benefits.

Better and improved
credit scores

Flexible
loan tenures

Ease of application
and approval

Increased
convenience

FAQ on Lending Bee's Overseas Education Loans

Frequently Asked Questions

How does an overseas education loan work?

An overseas education loan functions in about the same way as an education / study loan would.

The difference is that an overseas education loan is specifically tailored to cater for any spends that might occur during your time overseas.

These include your tuition fees and living expenses (food, accommodation, utilities, travel, etc.).

With so much to account for and being in a foreign land, an overseas education loan can help you take care of your overseas living and studying costs, while you better assimilate into life overseas.

What are some uses of an overseas education loan?

With a local education loan, you will be able to cover for the following, but not limited to:

  • Tuition fees
  • Accommodation
  • Food
  • Transport
  • Travel
  • Airline fares
  • Computer / laptop
  • Textbooks
  • Software licences
  • Special courses and training opportunities

 

How does your overseas education loan differ from those from banks?

The three main differentiating factors between our overseas education loan compared to banks are:

  • Speed
  • Ease of application
  • Service rendered

We believe in providing you with a personal loan in the shortest time possible.

This is why we have streamlined our borrowing process into 3 simple steps.

Moreover, we do not go through rigorous credit checks and also do not require much paperwork.

Ultimately, our experienced loan officers will be there to guide you on the best overseas education loan package for your needs and provide professional advice. This is so that you’ll be able to fulfil your dreams of studying overseas and living independently.

What are the tuition fees like for universities in Australia?

This is the top destination for Singaporean students going to study overseas due to its proximity to Singapore and large Asian culture.

Undergraduate education generally starts at $30,000 a year for international students.

This number will generally be higher for technical courses relating to science, medicine or law.

Below is a table depicting the average cost of a Bachelor Of Arts degree in the more popular Australian Universities:

*Tuition fees and currency exchange are as of 12 January 2021

What are the tuition fees like for universities in the United Kingdom?

This is another preferred destination for people looking for an overseas degree because of its high-ranking Universities and how it acts as the gateway to Europe.

Below is the cost of the average annual tuition fees you can expect to pay as an international student:

*Tuition fees and currency exchange are as of 12 January 2021

What are the tuition fees like for universities in the United States?

This is another preferred destination for people looking for an overseas degree because of its high-ranking Universities and how it acts as the gateway to Europe.

Below is the cost of the average annual tuition fees you can expect to pay as an international student:

*Tuition fees and currency exchange are as of 12 January 2021

Who is eligible for an overseas education loan?

To qualify for an overseas education loan for your child with Lending Bee®, you’ll simply have to:

  • Be a Singapore Citizen, Permanent Resident or a Foreigner with a valid work permit
  • Be at least 21 years old
  • Be permanently employed for at least 3 months

 

What documents are required to obtain an overseas education loan?

For Singaporeans / PRs:

  • Proof of identity (NRIC, passport)
  • Proof of income (CPF / bank statements)

For Foreigners

  • Work Permit / S Pass / E Pass
  • Proof of residence (Utility bills, phone bills, tenancy agreement, etc.)
  • Payslips / bank statements

 

What is the application process for an overseas education loan like?

At Lending Bee®, all applications for our overseas education loans are kept fast and simple.

  • Step 1: Submit your application via our online application form.
  • Step 2: We will drop you a call regarding your loan application status within the hour.
  • Step 3: Head down to your selected Lending Bee® branch, sign the contract and receive your loan.

How fast can I receive my loan?

We will disburse the funds to you immediately after you have accepted and signed our loan contract at any of our branches.

I have existing loans with other licensed moneylenders / Lending Bee®. Am I still eligible for a loan?

Yes, it is possible. However, do note that the loan will be subjected to approval, and it cannot be used to refinance your current loan(s).

I have a poor credit score. Can I still apply for an overseas education loan?

Yes, you can still apply for an overseas education loan with us. We aim to help our borrowers regardless of their credit scores.

This is why we do not have specific restrictions with regard to credit scores.

Will I be charged if I make early repayments?

No, we do not charge any fees for early loan repayments.

Outstanding interests, if any, will also be nullified once you have finished repaying your loan earlier than the date stipulated in your loan contract.

Will my loan documents and information be mailed to my home?

No, we do not mail any of your loan information to your home.

All loan details will be kept digital, and private with us, unless a physical copy is requested.

Additional Resources on Overseas Education Loans

Our Latest Customer Reviews

Borrow with confidence. Lending Bee® licensed moneylender has more than 1,900 positive customer reviews on Google Business.

Afir 79
Afir 79
November 23, 2022.
I was served by Samantha at Jurong Branch. She was very polite and explain every single detail clearly.Thank you very much for your help.
Frankie Huang Jianwei
Frankie Huang Jianwei
November 22, 2022.
HI lending Bee....can I enquire about a loan for 15K what is the processing fee and the interest rate on ur side? Previously sucessful Borrower/Return with GScredit.......
Nad Irah
Nad Irah
November 18, 2022.
Very understanding and does their best to accomodate and help you as much as they can. The ambience when you come in is not scary or judgey : very welcoming and calm. Thank you to Boon from JE outlet for helping me with my application!
Azmi Ali
Azmi Ali
November 14, 2022.
very professional & swiftly processed.thank you lending bee!
Ari Izza
Ari Izza
November 12, 2022.
friendly staff, assisted with the help i needed.. was assisted by Boon.
Nur Qistinaa
Nur Qistinaa
November 12, 2022.
understanding and explained every details needed.
Martin Tin87
Martin Tin87
November 10, 2022.
Thank you very much
KeanChang Chau
KeanChang Chau
November 7, 2022.
Very detailed explanation by boon, I'm clear to what are the rates and things to look out for taking up a loan. Definitely making me understand about my situation regarding the payout.
Mohammad Zulhaiqal
Mohammad Zulhaiqal
November 6, 2022.
Straight forward with the details, easy to understand and very friendly.

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