3.4 Getting a top-rate school education provides a critical foundation for every Singaporean, and we will keep improving, keep helping our children to learn better in our schools. But good schools are not the end of the story. That is why we have also made our ITEs, polytechnics and universities world class. They are widely regarded internationally as being in the top tier.
3.5 We want as many Singaporeans as possible to obtain a post-secondary education, whether it be for a certificate, diploma, or degree. This is absolutely essential in the new innovation-driven economy. To help Singaporeans pursue their tertiary education, we will create a Post-Secondary Education Account (PSEA) for every Singaporean aged seven to 20. Students can use the PSEA at our publicly-funded universities, polytechnics, ITEs, and also at NAFA and LaSalle, our arts institutions.
3.6 We recognise, however, that some Singaporeans may miss out on an opportunity for post-secondary education. I will therefore allow the PSEA to also be used for UniSIM, which provides for an open-style university education for adult learners, and WDA-accredited lead training providers. Unused monies in an individual’s PSEA will be transferred to his CPF Ordinary Account when he turns 30. I will announce later the amount of top-ups that the Government will put into PSEA as part of this Budget.
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