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6.7 We want to help families with the costs of their children’s post-secondary education. As I mentioned earlier, we will open Post-Secondary Education Accounts (PSEA) for all Singapore citizen children aged from seven to 20 from next year. We will top up these accounts from time to time, when our surpluses allow, and give more to those who are less well-off. I will credit the accounts of those in secondary school or older with $400 in 2008, and another $400 in 2009. Those of primary school age will get less as they can get more PSEA top-ups in future years if we are able to share surpluses.
6.8 The PSEA top-ups will cost $400 million and benefit around 650,000 children.
Table 3 - Structure of PSEA Top-ups (each year)
| Age of Child in Year of Payout |
Annual Value of Home less or equal to $10,000 |
Annual Value of Home more than $10,000 |
| 7 to 12 | $200 | $100 | | 13 to 20 | $400 | $200 |
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