Overview of Edusave Scheme
In 1993, the Government started the Edusave Scheme to maximise opportunities for all Singaporean children. The Scheme rewards students who perform well or who make good progress in their academic and non-academic work, and provides students and schools with funds to pay for enrichment programmes or to purchase additional resources.
Where does the money for Edusave come from?
The Edusave Endowment Fund is built up from Government contributions. The fund is invested by the Government and the interest earned is used to finance the contributions, grants and awards given to schools and students. The Government contributed an initial capital sum of $1 billion to the fund in 1993. The capital sum reached the target of $5 billion in August 1997.
How can my child benefit from Edusave?
If your child is a Singapore citizen and is studying full-time in a government, government-aided or independent school, junior college (JC), centralised institute (CI), Institute of Technical Education (ITE) or special education school, he can benefit from Edusave in three ways: