PM Gives Another Half Million Dollars To Education

Two new Lee Hsien Loong Awards will be given out to outstanding students starting next year after the Prime Minister gave an additional half a million dollars to the endowment fund he set up last year.

One award recognises post-secondary students who have attained outstanding all-round achievements, while the other recognises excellent students undertaking bicultural or regional studies.
 

Last year, the Prime Minister set up a $300,000 endowment fund for two education awards with the $1.04 million dollar pay increase he received.

He is contributing an additional half a million dollars to the fund this year so it can generate enough returns for the two new awards.

He said he intends to make further contributions over the next few years to build up the endowment.

STATEMENT FROM THE PRIME MINISTER ON NEW SPECIAL AWARDS FOR STUDENTS

1.             Last year, I set up an endowment fund for two education awards, to recognise students who have persevered and done well, and schools which have found effective ways to help these students.

2.             This year, after discussing with MOE, I will create two more education awards. One award will recognise students who have done well both academically and non-academically, and have contributed to the community in enterprising ways, whether they have studied in the Junior Colleges, ITE, Polytechnics or Universities. The other award will recognise top students from the Bicultural Studies Programme (Chinese) and the Regional Studies Programme.
  

3.             I am contributing an additional $500,000 into the endowment fund this year[1]. This will enable the endowment to generate enough returns to fund all four awards. Over the next few years, I intend to make further contributions to build up the endowment.

4.             Education is the key to success in Singapore. It gives students the opportunity to acquire the skills and knowledge to create better lives for themselves. I hope that the awards will encourage students to do their best and excel, and help to foster an inclusive education system that nurtures students of all talents and abilities. 

[1] The amount comes from the salary increase of $1,040,000 I received in 2008, as a result of the salary adjustments in April 2007. I have donated the rest of the salary increase to a range of community, grassroots, arts and welfare organisations.