SINGAPORE (Feb 19): Starting from Jan 2019, annual Edusave contributions for each Singaporean primary and secondary school student will be raised to $230 and $290, respectively, from $200 and $240 previously.

The aim is to provide support for individuals and families to better prepare for the future and care for another, said Finance Minister Heng Swee Keat in its Budget 2018 announcement.

To benefit more students from lower-to-middle income families, the government is planning to update the income eligibility criteria for the Edusave Merit Bursary and the Independent School Bursary, while also covering more meals for secondary schools under the School Meals Programme.

The MOE Financial Assistance Scheme for pre-university students will also be enhanced by raising the annual bursary quantum to $900 from $750, while its income eligibility criteria will be updated as well.

Lastly, the Ministry of Education is to pilot a new Financial Education curriculum at its polytechnics and Institutes of Technical Education (ITEs) in its bid to enhance financial literacy.