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Post-Secondary Education Account (PSEA): Overview
What the PSEA is about
The Post-Secondary Education Account (PSEA) is part of the Post-Secondary Education Scheme to help parents save for their children's post-secondary education. The PSEA is administered by MOE and is opened automatically for all eligible Singapore Citizens.
The PSEA funds can be used to:
- Pay for your child's or their siblings' approved programmes at approved institutions.
- Repay government education loans and financial schemes.
Find out where and how the funds can be used.
The PSEA balance will earn interest pegged to the CPF Ordinary Account (CPF-OA), which is currently 2.5% per annum.
When the PSEA will be created
A PSEA will be created for Singapore Citizens when there is a transfer of remaining balance from either their:
- Child Development Account (CDA) in the year they turn 13 years old.
- Edusave Account in the year they turn 17 years old, or no longer studying in an MOE-funded school, whichever is later.
It will also be opened for Singapore Citizens who are eligible for:
- PSEA top-ups by the Government.
- The first payment of the National Service Housing, Medical and Education (NS HOME) Awards.
Learn more about fund transfers and contributions to a PSEA.
When the PSEA will be closed
The account holder's PSEA will be closed around the middle of the year in which they turn 31.
Account holders will receive an e-notification from the Student Finance System (SFS) informing them of the closure. Account holders can opt to:
- Retain their PSEA for one more year.
- Transfer the balance to their sibling's PSEA.
- Donate to the Education Fund.
For account holders who did not opt in, their PSEA will be closed and any unused PSEA funds will be transferred to their CPF-OA. This transfer is non-reversible and the funds will be subjected to CPF-OA usage rules.
How to access the PSEA
You can access your PSEA online via the Student Finance System (SFS)