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The Edusave (Chinese: 教育储蓄) programme is part of a scheme implemented for education in Singapore by the Ministry of Education for Singapore. Its stated aim is to maximise opportunities for all Singaporean children. The scheme aims to reward students who perform well or who make good progress in their academic and non-academic work, and provides students and schools who qualify with funds to pay for enrichment programmes or to purchase additional resources. It is applicable to Singaporeans between the age of 6 and 16 and studying full-time at government, government-aided or independent schools, junior colleges (JC) and Centralised Institutes (CI), Institute of Technical Education (ITE) or special education schools.
The Edusave Endowment Fund is built from various contributions from the government of Singapore. The fund is invested into by the government and the interest earned is used to finance the contributions, grants and awards given to schools and students.
There are 3 main aspects of Edusave, the Edusave Pupils Fund, Edusave Grants and Edusave Scholarships and Awards.
Edusave Pupils Fund
Singaporeans between the age of 6 and 16 at the point of school admission will automatically be given an Edusave account and receive a yearly contribution from the Government’s Edusave Pupils Fund until they reach 16. However, only the first, second and third child were eligible for the Edusave account prior to 2004. In 2005, the Government will contribute $170 and $200 to the Edusave account of each eligible student at primary and secondary level respectively.
Grants are given to schools so that they may organise common enrichment programmes or purchase additional resources which benefit students.
Edusave scholarships and awards
There are various reward programmes for students who meet certain academic rankings as well, some of which is targeted at low-income households. They include the Edusave Scholarships (ES), Edusave Merit Bursary (EMB), Good Progress Award (GPA ), Edusave Awards for Achievement and Good Leadership and Service (EAGLES) awards.
- Edusave Scheme (MOE website)