PSEA for uni or poly?

[salivaman]

hi i understand that for nsf our psea account will be topped up with 3k before we ord. would it be better to use this for our poly fees (7k) or for our future uni fees (20k)?

currently the poly fees are loaned by cpf using my father's account but with my savings in my bank account i can make a one time full payment of 7k for my poly fees and then use the psea funds for my future uni fees.

if u are in this situation would u use the PSEA funds for ur uni or poly fees?

 

[foo9883]

hi i understand that for nsf our psea account will be topped up with 3k before we ord. would it be better to use this for our poly fees (7k) or for our future uni fees (20k)?

currently the poly fees are loaned by cpf using my father's account but with my savings in my bank account i can make a one time full payment of 7k for my poly fees and then use the psea funds for my future uni fees.

if u are in this situation would u use the PSEA funds for ur uni or poly fees?

Use it for poly first. PSEA can only be withdrawn and used for approved programmes and institutions (link). You will not be able to use the funds if you choose to take up courses after poly from institutions not supported by the list.

And who knows, maybe you will do well enough in future and end up getting scholarships for uni leaving the PSEA funds transferred to your CPF

 

[Hungry4more]

hi i understand that for nsf our psea account will be topped up with 3k before we ord. would it be better to use this for our poly fees (7k) or for our future uni fees (20k)?

currently the poly fees are loaned by cpf using my father's account but with my savings in my bank account i can make a one time full payment of 7k for my poly fees and then use the psea funds for my future uni fees.

if u are in this situation would u use the PSEA funds for ur uni or poly fees?

Hi, I would like to know what is the process of using your PSEA funds to pay for your poly fees, did they send you a letter regarding it?

Cuz i'm more incline to using the $ to pay for my poly fees as I will be studying in a private insititution for my Uni.

 

[salivaman]

Use it for poly first. PSEA can only be withdrawn and used for approved programmes and institutions (link). You will not be able to use the funds if you choose to take up courses after poly from institutions not supported by the list.

And who knows, maybe you will do well enough in future and end up getting scholarships for uni leaving the PSEA funds transferred to your CPF

Oh i see. That makes sense. I will be studying in a local uni thats why i know the psea can be used in future as well. Thanks.

 

[salivaman]

Hi, I would like to know what is the process of using your PSEA funds to pay for your poly fees, did they send you a letter regarding it?

Cuz i'm more incline to using the $ to pay for my poly fees as I will be studying in a private insititution for my Uni.

Yes they sent the letter but they didnt mention the process of using the funds so might have to call them up regarding this.

 

[rollbread]

Yes, you can. I just used them for my uni tuition fee. But not alot, I only left around $3k plus I guess....

 

[salivaman]

i have just come across this thread regarding the psea funds:
http://forums.hardwarezone.com.sg/e...ry-education-account-use-pay-off-3624702.html

just to confirm i have graduated 3 years ago and the fees are paid by the cpf loan. it seems like i can't use the psea funds to pay off the loan as the application for the psea is during the poly enrollment period, which is already over?

wouldn't it be stupid if i can't use the psea to pay off the CPF loan for my poly fees as neither my parents or I was even informed there was this psea account until I am about to ORD as a NSF.

can anyone confirm?

 

[TKR1992]

Hi,

I understand that you have already used your (parents) CPF funds to pay for your poly school fees.

You cannot use your PSEA account to repay your CPF which was used to pay for your poly fees.

You can still use it for university fees.

i have just come across this thread regarding the psea funds:
http://forums.hardwarezone.com.sg/e...ry-education-account-use-pay-off-3624702.html

just to confirm i have graduated 3 years ago and the fees are paid by the cpf loan. it seems like i can't use the psea funds to pay off the loan as the application for the psea is during the poly enrollment period, which is already over?

wouldn't it be stupid if i can't use the psea to pay off the CPF loan for my poly fees as neither my parents or I was even informed there was this psea account until I am about to ORD as a NSF.

can anyone confirm?

 

[TKR1992]

wouldn't it be stupid if i can't use the psea to pay off the CPF loan for my poly fees as neither my parents or I was even informed there was this psea account until I am about to ORD as a NSF.

The PSEA can only be withdrawn to make payments for approved institutions - including Polytechnics and Universities.

Try to think of the CPF loan scheme as a Bank Loan. You took a bank loan to pay for your poly fees. You can't now use your PSEA to pay back the bank loan.

 

[salivaman]

Oh i see..that makes sense. Thanks for clarifying.

 

[McFadden]

When will psea expire?i like got $0 in my psea.dont know how I use.i just only diploma.

 

[Havok_ex]

When will psea expire?i like got $0 in my psea.dont know how I use.i just only diploma.

PSEA does not expire. It will be transferred into your CPF at the age of 30. Yes, it is possible that you could have exhausted your PSEA. In the first place, PSEA also not that much to begin with. Its not even enough to cover your whole diploma actually.

 

[LesPhantom]

It can be use for any local tertiary program before you hit 30yrs old. you can use ur siblings ones if they never use.

I personally used it for my postgraduate, although not much, can deduct 1/2 a semester worth also song right?

i actually forgotten about it until recently my fiancee told me it actually can be use for tertiary studies~

 

[akloaklo]

weird question...

Use later or sooner also same right.

Like someone said, use for poly first because don't know if you will be able to use psea for your future uni or not.

 

[ChocolateCat]

So good... guys got free money to pay for their uni fees.

 

[Havok_ex]

So good... guys got free money to pay for their uni fees.

Never mistake ns as a privilege. It is by far and away not a good thing. The money we get for the psea account is literally peanuts compared to the blood sweat and tears that are shed. Moreover, two years of our prime goes down the drain just like that. 5k for 2 years of sacrifice. Not to mention some of servicemen end up dead or with permanent injuries. Do you think its worth it now?

 

[Kyoji83]

If the guy cannot even enter local Uni or Poly, what so good about PSEA?

Since I am going to MR soon, can I give back PSEA to Singapore Government in exchange for my Son do not needs to serve NS?

So good... guys got free money to pay for their uni fees.