WITHDRAWAL FROM EDUSAVE ACCOUNTS

Dr Kanwaljit Soin asked the Minister for Education why only 14% of the students have withdrawn money from their personal Edusave accounts to improve the quality of their education.

Mr Lee Yock Suan: The number of accounts withdrawn as at 31st December 1993 was 52,086. This works out to a participation rate of 15%.

As the Edusave scheme was launched only last year, the schools needed some time to familiarise themselves with it and to organise themselves before they could begin to tap the funds for enrichment programmes. Principals and school administrators were also prudent in the use of the Edusave funds as they wanted to ensure that they were getting value for money for the schools and their pupils. As they gain experience in evaluating and organising enrichment programmes for their pupils, schools will make more use of the Edusave funds and the participation rate is expected to increase. Money which is not spent will remain with the pupils for their future benefit. Some may well be saving for future use when they go to the polytechnic or university.