SINGAPORE - Every Singaporean child aged seven to 20 will get $200 in his Edusave account or Post-Secondary Education Account (PSEA) by the end of this month.
The one-off top-up will be credited directly to the recipients' accounts and no action is required from them, said the Ministry of Finance and Ministry of Education in a joint statement on Wednesday (May 12).
About 532,500 children will benefit from the top-up, which is part of the Household Support Package announced during Budget 2021 to provide families with additional support for their children's education-related expenses.
This is on top of the annual Edusave contribution that the Government makes, the authorities said.
The funds in the Edusave account and PSEA can be used to pay for approved fees and enrichment programmes.
Eligible recipients will receive letters informing them of the successful top-up next month.
More...