Bursaries for needy students?

I refer to the article “S’pore Polytechnic grads’ fund helps needy students” (Straits Times, Aug 9).

It states that “Mr Tan is one of the first 25 financially needy students to benefit from the fund, which was established in July last year by school alumni to help students who have fallen through the cracks of existing bursary schemes.

They received the fund award last month and will have a bursary of at least $1,800 each year.

Less than half of needy students get help?

The school is only able to help fewer than half the applicants who require financial assistance every year.

Many cannot benefit from the other financial schemes because their academic grades do not meet the requirements.”

No student denied education because can’t afford?

The Minister of Education said during the Committee of Supply debate on education in Parliament in 2011, that “Let me assure this house that enabling social mobility will continue to be a hallmark of our education system. MOE believes that education can and should uplift individuals and families. I agree with MPs too that in doing so, we cannot aim for equality of outcomes, because students are inherently different. What we must ensure is that opportunities abound for all students and that no student is denied a high quality education because he or she cannot afford it.

Bursaries?

According to the Polytechnic’s web site:

“There is a wide range of bursaries and grants available for students to apply for to defray their living expenses.

Students who need financial assistance may apply for:

BURSARIES
NEEDY FUNDS
MOE STUDY LOAN

1. BURSARIES

SP-Administered Bursaries/ Scholarships/ Grants

Donor-Sponsored Bursaries
CDC/CCC-Polytechnic Bursary
MOE Bursary
Eligibility criteria

Singaporeans
Full-time Diploma or Part-time Diploma students
Gross monthly household per capita income (PCI*) of $1,700 and below
Not in receipt of the CDC/CCC-Polytechnic Bursary in the same Academic Year

For Full-time Diploma students
PCI* Quantum
$1,200 or less:   $1,350
$1,201-$1,700:  $450

For Part-time Diploma students
PCI* Quantum
$1,200 or less:   $800
$1,201-$1,700:  $240

External Bursaries

Singapore Buddhist Lodge Bursary
Quantum: $1,200/ Academic Year

Eligibility criteria

Singaporean or PR
Full-time Diploma students
Good academic results and conduct
Financially needy (PCI*<$850)
Not in receipt of any other bursary/ scholarship award
Limited numbers of application are usually given out on a first-come-first-serve basis in August.

PMBM Scholarship Fund Bursary

2. NEEDY FUNDS

Needy Fund by Respective Schools
SP Needy Fund

3. MOE STUDY LOAN

MOE Diploma Study Loan
*Monthly Per Capita Income (PCI) =

(Total gross monthly household income) divide by (No. of household members living with applicant)

eg. PCI = $4000 (Total of father and mother’s income) divide by 5 (People in the house)

= $800

Financial matters

You can enjoy a high quality tertiary education without having to worry about school fees.”

Why less than half helped?

In view of the above, why is it that “The school is only able to help fewer than half the applicants who require financial assistance every year”?

What is the total number of students in the polytechnics who apply for bursaries?

$113 a month?

Also, is the bursary amount of $1,350 or about $113 a month, which I understand is the most common bursary amount, enough for a needy student? Has the quantum of bursaries increased over the years to account for inflation?

Other polytechnics too?

As the subject news report pertains to only the Singapore Polytechnic, do the other polytechnics have this similar  issue?

Foreign students’ scholarships?

I estimate that we spend more than $160 million a year to fund foreign students on scholarships in our public tertiary institutions (“Foreign scholars: Missing statistics?“, Feb 22, 2012).

If we can spend so much on foreign students, why are we apparently so stingy in helping Singaporean needy students in the polytechnics?

How many non-Singaporean students?

How many non-Singaporean (foreigners and PRs) undergraduate and graduate students are there in the local universities?

My estimate – about 40% (“AIM debate in Parliament: (Round  – its all about transparency?“, May 30).

How much foreign students’ tuition grants?

• How much money is being spent a year on foreign students’ tuition grants, etc, in addition to the foreign students’ scholarships mentioned above?
• How many foreign students who were given scholarships, tuition grants, etc, have left Singapore?

How much lost in foreign university tie-ups?

• How much money have we lost in total for the 5 failed tie-ups with foreign universities in Singapore – University of Chicago, NYU-NUS dual graduate law degree programme, Tisch, UNSW and John Hopkins?

Previously 4 in 10 bursaries went to foreigners?

According to a Straits Times article on 21 November 2006 – “Foreigners get 4 in 10 bursaries given by NUS this year”

But S’pore students come first, it says in response to some rumblings.

Previously only 46% of needy students get bursaries?

NUS came under fire last year when it revealed that only 492 out of 1,074 bursary applicants had received funds. It responded by pledging to top up alumni donations with its own money.”

Problem still persists after 7 years?

So, does it mean that things may not have improved much for needy Singaporean students in the polytechnic now vis-a-vis university students in 2006?

Leong Sze Hian

Leong Sze Hian is the Past President of the Society of Financial Service Professionals, an alumnus of Harvard University, Wharton Fellow, SEACeM Fellow and an author of 4 books. He is frequently quoted in the media. He has also been invited to speak more than 100 times in 25 countries on 5 continents. He has served as Honorary Consul of Jamaica, Chairman of the Institute of Administrative Management, and founding advisor to the Financial Planning Associations of Brunei and Indonesia. He has 3 Masters, 2 Bachelors degrees and 13 professional qualifications. He blogs at http://www.leongszehian.com.