You are here
Resilience Budget: Government freezes all fees and charges for a year till March 2021
The government is freezing all government fees and charges for one year starting from April 1, 2020, in a bid to offer greater flexibility on its fees and loans amid the novel coronavirus pandemic, Deputy Prime Minister and Finance Minister Heng Swee Keat said on Thurday.
During his Resilience Budget speech in parliament, Mr Heng said this applies to all fees for government services until March 31, 2021.
"To help graduates who are worried about having to pay off their student loans while finding jobs in this economic climate, I will suspend all loan repayment and interest charges for one year," Mr Heng said. This will be from June 1, 2020 to to May 31, 2021, and will apply to all graduates who have taken a government loan for their university and polytechnic studies.
In addition, Mr Heng said late payment charges on Housing Board mortgages will be suspended for three months. This is to help those who are struggling with their mortgage payments during this difficult period.
"HDB will continue to exercise flexibility when providing assistance during this period, through existing measures such as deferring payment of loan instalments for six months," he added.