Edusave
The Government started the scheme in
1993 by setting up the Edusave Endowment Fund with an initial
contribution of $1 billion. The capital sum reached the targeted $5
billion by 1997. This fund is invested and the interest earned is
disbursed as grants and awards to schools and students to pay for
enrichment programmes and fund additional resources.
After
the National Day Rally announcement, any Singaporean child who is
studying
full-time in a government, government-aided or independent school,
junior college, centralised institute, Institute of Technical
Education or special education school, or enrolled in madrasahs,
privately-funded schools, as well as children who are home-schooled
or
residing
overseas, can benefit from Edusave.
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