SINGAPORE – More families will be able to apply for The Straits Times School Pocket Money Fund (STSPMF) from 2024 when the gross monthly per capita household income eligibility criterion is raised from $690 to $750.
The raising of the income ceiling for eligibility was announced on Friday during an annual event held to thank the fund’s donors, partners, disbursing agencies and schools who have supported it.
This is in line with the revised income ceiling for the Ministry of Education’s financial assistance scheme, which took effect in January.
STSPMF’s income eligibility criterion was last revised in 2020, from $625 to $690 a person a month.
STSPMF is a community project by The Straits Times that provides pocket money to children from low-income families, to help them with school expenses as well as their social and educational development.
Every month, primary school pupils, secondary school and post-secondary students will receive $65, $100 and $125 respectively, from the fund. Beneficiaries apply for the fund once or twice yearly.
Since its inception in 2000, the fund has disbursed $97 million to more than 210,000 children and youth.
During Friday’s event held at SPH News Centre in Toa Payoh, businessman Mohamed Abdul Jaleel donated $500,000.
Mr Jaleel has been a long-time supporter of the STSPMF, contributing about $5.5 million since 2010.
Seventeen-year-old student J’den Teo, who also attended the event, raised $43,969 for the fund through his most recent fund-raising art exhibition in June. He said: “I hope these funds can provide youth with the ability to take the first leap and chase their passions.”
J’den is the founder of Tad Charity, which is dedicated to raising funds for the less fortunate, even in small ways.
Addressing donors at the event, the fund’s chairman, Straits Times editor Jaime Ho, said that it aims to alleviate the struggles of needy families by providing children in need with resources to do well in school.
“Together, we try to level the playing field for the education of the less privileged,” he added.
Secondary 2 student De Silva Ayra Chantel Taculod, who has been receiving help from the fund over the past three years, said she plans to use the money to buy clothing and equipment for her choir activities and swimming lessons.
