MOE: Student loan default rate low, write-offs done only as a last resort (Amended)

Singapore

THE default rate of student loans in Singapore is low compared to other countries, and these loans are written off only as a last resort, said Acting Education Minister (Higher Education and Skills) Ong Ye Kung in Parliament on Monday.

He was responding to questions by Denise Phua (MP for Jalan Besar GRC) who wanted to know the purpose of the government's tertiary education study loan schemes, and the Ministry of Education's (MOE) response to the recent findings by the Auditor-General's Office (AGO) on outstanding student loans.