May 12, 2021, 04:30 PM
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Every Singaporean child aged seven to 20 will receive a one-time top-up of S$200 to their Edusave account or Post-Secondary Education Account (PSEA) by the end of this month.
This was announced by the Ministry of Finance (MOF) and the Ministry of Education (MOE) in a joint statement today, May 12.
Credited directly into recipients' accounts
No action is required from recipients', as the top-up will be credited directly into recipients' Edusave or PSEA account.
Eligible recipients will then receive letters informing them of the successful top-up in June 2021.
The top-up is expected to benefit about 532,500 children, and is a part of the Household Support Package announced at Budget 2021.
The funds in the Edusave account and PSEA can be used to pay for approved fees and enrichment programmes.
Top image from MOE/FB
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