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SINGAPORE : A S$15 million fund has been set up to provide scholarships for students from low-income families.
Called the "Howe Yoon Chong PSA Endowment Fund", it is named after the former Cabinet minister who was also the Chief of the Port of Singapore Authority (PSA).
The new scholarship is open to those pursuing post-secondary education.
The late Mr Howe held many key positions in his 30-year career at the civil service. In the 1970s, he also helmed the PSA.
So in his honour, PSA and Temasek Holdings have set up the endowment fund to provide bond-free scholarships for students from families with a per capita income of up to S$750.
The S$15 million cheque was received by Mrs Howe, who represented the Trailblazer Foundation, which will administer the money.
Unlike many other scholarships, students with a B average are encouraged to apply. Applicants must also have a strong co-curricular background.
"Mr Howe came from a family with modest means, and having known him well, I know that he would have greatly appreciated helping someone with creditable but not outstanding results to pursue post-secondary education," said S Dhanabalan, Chairman of Temasek Holdings.
Another thing that sets the scholarship apart is its scope. The money will be used to fund a whole range of studies, from a certificate at an Institute of Technical Eduation to an undergraduate degree at a local university.
The scholarship is also open to students who are aiming for a diploma at LASALLE College of the Arts, the Nanyang Academy of Fine Arts and the polytechnics.
The duration and quantum of each scholarship varies according to the chosen course, up to a maximum of four years. Apart from tuition fees, the money will provide recipients with a living and book allowance, as well as a laptop.
Organisers expect to give out 150 scholarships over the next five years. - CNA /ls
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