The Ministry of Education and the Ministry of Finance issued a joint statement earlier today (12 May), saying that all Singaporean children aged 7 to 20 will get a one-off $200 top up into their Edusave accounts (or Post Secondary Education Account – PSEA).
This is on top of the annual Edusave contribution made by the government, and it will be credited directly into their accounts, requiring no action from them.
This is part of the Household Support Package announced during Budget 2021 to provide additional support to families to alleviate their children’s education-related expenditure.
Letters informing them about the successful top up will be sent to eligible recipients from next month, and about 532,500 children and students will benefit from this.
Image source: Republic Polytechnic Facebook