Post-Secondary Education Account: Who Qualifies and What You Get
Learn how the Post-Secondary Education Account helps Singaporean students pay for tertiary education fees.
The Post-Secondary Education Account is a dedicated fund designed to help students manage the costs of their tertiary education.
Who it's for
To qualify for this scheme, you must be a Singaporean citizen. The account is specifically intended for individuals between the ages of 17 and 30. This age range covers the typical period when a student moves into higher levels of learning and requires financial support for tuition and related educational expenses.
What you get
The primary benefit of this account is the availability of funds to help cover your tertiary education fees. By having these funds set aside, you have a financial resource to assist with the costs of pursuing further studies after you have completed your secondary school education.
What it costs you
There is no direct out-of-pocket expense or application fee required to access this scheme. The process is designed to be seamless, as the money is provided through an automatic transfer. Once you have completed your secondary school education, the funds are moved from your Edusave account into your Post-Secondary Education Account.
The catch to know
It is important to understand what happens to any money left in the account if you do not use it for its intended purpose. If there are unused funds remaining in your account when you reach the age of 31, those funds will be transferred to your CPF Ordinary Account. You should plan your education spending carefully to make the most of the funds available to you.
How to apply
- Complete your secondary school education to trigger the transfer.
- Confirm that your funds have been successfully moved from your Edusave account to your Post-Secondary Education Account.
- Use the available funds to pay for your tertiary education fees through the appropriate educational institution channels.