SINGAPORE - A $1 million bursary fund was launched on Friday (Jan 22) to help financially challenged students at Nanyang Technological University (NTU).
The money will come from local traditional Chinese medicine (TCM) charity clinic the Sian Chay Medical Institution.
It is making the contribution in partnership with NTU's Graduation Giving programme, where graduating students are encouraged to make a donation in an area of their choosing.
Sian Chay Medical Institution is matching the donations dollar for dollar up to $100,000 a year for 10 years. It will top up the remainder even if the target is not met, said executive chairman Toh Choon Huat.
The aim of the fund is to relieve financial pressure on needy students and to foster a spirit of giving back to the community in those who are graduating, he added.
Sian Chay Medical Institution operates a network of 13 non-profit TCM clinics here, providing the public with free consultations and low-cost treatment options.
"In alignment with Sian Chay's spirit of service and philanthropy, we at NTU aim to inculcate the culture of giving in every student," said Ms Lien Siaou-Sze, NTU's vice-president for university advancement, at the signing ceremony on Friday.
Witnessing the ceremony was guest of honour Alvin Tan, the Minister of State for Culture, Community and Youth. He said: "The gift of education should be available to all students in Singapore, regardless of background."
Mr Tan, who is also the Minister of State for Trade and Industry, added: "I hope that our youth will continue to grow the spirit of SG Cares as they enter the workforce and give back to society in meaningful ways."
The Sian Chay Medical Institution Bursary Fund will be open to applications from all financially challenged NTU undergraduates. Its first recipient will be in 2022.
"One in five NTU undergraduate students seeks financial aid from the university every year," said Ms Lien.
"With this new bursary fund, Sian Chay will enable these students in getting a good education to become leaders of tomorrow and to serve the community."