Hi everyone, there has been a
correction to the previous version of the FAQ.
Please read again for more accurate answers.
Have been asked by quite a few regarding finances and here are some of the questions and answers:
Can Edusave funds be used?
Yes, but up to a certain limit, and it works on a case by case basis as everyone would have used up their Edusave to different amounts. The admin office is able to check upon confirmation of your interest.
Can the Post Secondary Education Account (PSEA) funds be used?
No. This information can be obtained from the MOE Edusave website: http://www.moe.gov.sg/initiatives/post-secondary-education-account/eligibility-and-usage/ . Read under the heading titled "What can the PSEA funds be used for?". It is specifically mentioned earlier as well that the PSEA account is only usable for the mentioned list of institutes. Looking further into the FAQs:
Why can’t my child make use of the PSEA for his educational expenses at primary, secondary and junior college levels? PSEA is to be used for
higher education which is more expensive. Education at primary, secondary and junior college level is heavily subsidised by the Government. There are financial assistance schemes, scholarships and bursaries in place to help parents with the expenses.
Are there subsidies available?
The school has set aside a fund to subsidise students with financial difficulties, but this is again available on a case by case basis, based on family income and other factors. That is to say, you may or may not receive this subsidy and would need to put up a good case to secure the subsidy. This shouldn't deter anyone nonetheless as ultimately it is part of our principles to try to not deprive students of opportunities just because of financial issues.
Disclaimer though, that usage of Edusave and available subsidies are only applicable to Singapore citizens. PRs and non-citizens will unfortunately not be entitled to these funds.
Hope this helps!
