Wednesday, February 11, 2009

Use CPF to repay education loans

Dear Mr. Tan,

Govt have been urging us to upgrade our skill etc. Since the global market is so bad now, why can't we use our CPF funds for our educations fees? Some of us hv to resort to taking loan from bank to service our edcuation. I feel we should be allowed to use CPF to service our education loanm, since the Government has also dipped in the country reserve. Do you think we can bring this up?

REPLY
I suggest that you see your Member of Parliament.
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2 comments:

Anonymous said...

I thought CPF is allowed to be used for education. Maybe there are some restrictions on what type education.

Just like there are restrictions for housing and investment.

February 11, 2009 9:04 PM
Anonymous said...

Hi,
Housing withdrawal limits is the restriciton I hate the most. I bought my condo in 2001 and by right it should not be subjected to the CPF withdrawal limits. However when I refinanced my condo in 2005 to save my interest payment, the CPF board immediately classified me under the CPF withdrawal limits of 158%. I wrote in to them and even quarrelled with the so called high ranking officers but yet they could not give me a good explanantion why my refinance was equivalent to buying of a new property in 2005. Now I have already lost faith in our government!

February 12, 2009 1:23 PM

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