540,000 young S'poreans to get $200 top-up next month
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About 540,000 Singaporeans aged seven to 20 this year will each receive a one-off top-up of $200 to their Edusave account or Post-Secondary Education Account (PSEA) next month.
In a joint statement yesterday, the Ministry of Finance and Ministry of Education said the top-up is part of the Household Support Package announced at Budget 2022, which provides support for expenditure on utilities, household necessities and education.
It comes on top of the annual Edusave contribution that the Government makes.
Funds in the Edusave account and PSEA can be used to pay for approved fees and programmes, including enrichment programmes organised by schools and miscellaneous fees.
Edusave funds can be used to cover some expenses in primary and secondary school, junior college or at Millennia Institute. PSEA funds are meant to help defray post-secondary education expenses, including in polytechnics, the Institute of Technical Education, as well as the six local universities.
The top-up will be credited directly into recipients' Edusave account or PSEA by end-May.
No action is required from recipients and those with inquiries about account balances can call MOE's Edusave and PSEA hotline on 6260-0777, submit inquiries to MOE's "Ask MOE" virtual assistant or refer to the frequently asked questions section on MOE's website.
