Facebook user Valerie Chan, asserted that she is unclear why CPF considers the amount she took out to fund her studies a 'loan' since she apparently withdrew the sum from her own CPF savings
action against her if she does not make payment with interest on a loan she took out to fund her post-secondary studies at a local polytechnic.
The CPF Education Scheme is a loan scheme that allows members to use their own savings from their Ordinary Account to fund their subsidised tuition fees at approved institutions like the local polytechnic schools.“would need to start repaying the principal amount withdrawn plus the accrued interest in cash to your CPF account, one year after graduation or termination of studies whichever is earlier.
Things didn’t go so well and after that I was in some trouble and had financial problems so did not pay back this education “loan”.”So they have been sending letters demanding for payment + interest.
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