Minister Heng Swee Keat announced today the Government will exercise greater flexibility on its fees and loans during this period.
It will freeze all government fees and charges for one year from 1 April 2020 to 31 March 2021. This will apply to all fees for government services.
In addition, to help graduates who are worried about having to pay off their student loans while finding jobs in this economic climate, the Government will also suspend all loan repayment and interest charges for one year from 1 June 2020 to 31 May 2021.
This will apply to all graduates who have taken a government loan for their university and polytechnic studies.
All late payment charges on HDB mortgage arrears will be suspended for three months, for those who are struggling with their mortgage payments.
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.
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