The Singapore Government will increase its spending on bursaries for higher education, from S$148 million per year to S$198 million per year, said Finance Minister Heng Swee Keat.
Polytechnic, ITE and university students from low and middle-income families will receive higher education bursaries from 2020.
Cash bursaries for eligible students will be increased by up to S$200 a year.
On top of the cash bursary, students who come from households under the lowest-income tier will now also be given a 100% fee subsidy.
Heng also said the Government aims to help more local students in institutes of higher learning (IHL) gain overseas experiences to help them acquire cross-cultural skills.
A “70-70” target is set — for 70% of local IHL students to have an overseas experience, and 70% of this group to have exposure to ASEAN, China or India.
A new Asia-Ready Exposure Programme will be introduced to support this, while more support will be added for overseas internships under the existing Global Ready Talent Programme.
Featured Image Credit: NTUitive