The Edusave Scheme was launched in 1993 with the aim of maximising opportunities for Singaporean students in MOE-funded schools (e.g. government and government-aided schools, and government-funded independent and special education schools) by providing resources for school enrichment activities in support of their holistic development and to encourage students to excel in both academic and non-academic areas.
Where does the money for Edusave come from?
The Edusave Scheme is funded using income generated by the Edusave Endowment Fund, which is built up from Government contributions. 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 FY1997. With further top-ups of $0.2 billion in FY2012 and $0.3 billion in FY2013, the capital sum stands at $5.5 billion.
How can my child benefit from Edusave?
If your child is a Singapore Citizen and is studying in a MOE-funded school, he/she can benefit from the Edusave Scheme in the following ways:
- Edusave Contributions
- Edusave Grants
- Edusave Awards
From 2014, eligibility to receive Edusave contributions has been extended to all Singaporean children aged 7 to 16, including those not studying in MOE-funded schools.
As announced in Budget 2015, a top-up of $150 will be provided to the Edusave accounts of Singaporean children aged 7 to 16, on top of the annual contributions that they currently receive, as shown in the Table below. Students above the age of 16 who are still in secondary school will also receive the top-up.
Total Edusave contributions and top-ups for 2015
|Level ||Annual contribution per student ||One-off top-up per student in 2015 ||Total amount |
|Primary ||$200 ||$150 ||$350 |
|Secondary ||$240 ||$150 ||$390 |
The top-up will be done automatically.