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Scholarships and Money in Singapore

Singapore has a reputation for being an epicentre of research, innovation and higher education. Singapore maintains and provides international students with a cooperative spirit and superb quality of life. Though more and more students aspire to pursue their higher education in Singapore, money always remains a huge question for all of them globally. Tuition fees are not inexpensive when it comes to studying internationally from top-ranked universities around the globe. The tuition fee for arts, architecture and law comes around S$17,000 to S$27,000. For business and accounting program the fees are S$20,000 to S$30,000. For engineering and science degree the fees are S$17,500 to S$37,000. Though the tuition fees are on a little higher end when compared to other Asian Universities, it is comparatively less when compared to the United States and the UK.

The estimated annual accommodation expenses for living on campus in Singapore comes at S$4,500 to S$8,300. However, these rental varies depending on the geographical area, type of accommodation, demand, number of people and facilities being provided. For off-campus facilities, the rental rates hover around S$3,700 to S$7,500. These figures again depend on the type of accommodation, the number of people sharing and other amenities involved. Data suggests that an international student in Singapore spends an average of S$750 to S$2000 monthly on living expenses.

Open a bank account is no difficult task in Singapore. Though few of the banks allow applicants to fill online applications, they are required to visit the branch ones. A couple of basic documents like passport and the study pass is required by the banks to open a bank account. Some banks might require a few additional documents like address proof, a recommendation from your home bank, tax and national insurance number, and an introduction from one of the bank’s existing customer.

Documents that are accepted as address proof includes phone bill, a bank statement (if you have one), rental agreement, a formal letter from the university. One can even open a bank account even before arriving in Singapore.

Being the financial hub in South East Asia, Singapore has the presence of many global financial institutions like ANZ, BNP Paribas, Citibank, Standard Chartered Bank. Thus if a student has an account in one of these banks in their home country, they can always ask the home bank branches to help them in setting up an account in Singapore. The minimum deposit requirement at most of the bank in Singapore is normally in between S$1,000 to S$3,000.

Few of the things that students are required to take care of before commencing their education in Singapore, is as follows.

1. Students ones enrolled in the university are required to undergo an obligatory medical test with Raffles Medical Group prior to commencing their studies.

2. Students must also make sure that they have a valid passport with at least 6 months of validity.

3. Students are also expected to bring all the original transcripts of their previous studies for verification.

Singapore is one of the greatest cities of the modern time, and living in greatest cities can be quite expensive. Not to forget the tuition fees which is already on the higher side of the scale. Thus getting a scholarship can help ease up the financial burden on the students. A number of different scholarships are available that students can grab, and live their Singaporean dream and Education.

1. Singapore Scholarship of the Embassy of the Republic of Singapore – This scholarship program offer support to the students who are enrolled in the undergraduate programs at the National University of Singapore, Singapore Management University and the Nanyang Technological University. This scholarship is available for all the fields except dentistry, medicine, architecture and law. Click here to find more information.  

2. ASEAN Foundation Research Scholarship – This program provides a scholarship to the ASEAN countries nationals in the field of arts and social sciences, design and law. This scholarship provides tuition fees and other funding over the period of two years. Click here to find more information.  

3. Lee Kong Chian Graduate Scholarships at the National University of Singapore – This scholarship cover tuition fees, travel expenses, books and laptops, and a monthly stipend for all of the PhD students over a period of four years. Click here to find more information.  

4. Science and Education for Agriculture and Development (SEARCA) Graduate Study Program: This scholarship provides support for international students who have good academic standings in their respective field of studies like agriculture, statistics, forestry and other fields that focus on global sustainable developmental issues. This funding is provided to MS and PhD candidates. Click here to find more information.  

5. INSEAD Syngenta Endowed Scholarship for Emerging Country Leadership – Under this program two scholarship of € 22,500 is offered every year to the MBA students at INSEAD. It is awarded on the basis of outstanding achievement, leadership potential, management aptitude and commitment to make a considerable contribution in developing their home countries economy in the future. Click here to find more information


Plenty of other scholarship options are available for the international students that they can apply to, and ensure that their education gets funded through it. It is also important for students to know that all these scholarships needs to apply well before the deadline date. The earlier you apply the better are the chances of you getting the funds. In addition to all these scholarships, students are also allowed to work part-time, provided they get the confirmation of it from their respective universities. Students can work a maximum of 16 hours per week. Working part-time can be really helpful for students to fund their education and at the same time gain some invaluable experience, which can be proven really fruitful once they complete their education and start working for various employers.

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