As Singapore turned 50 and the National University of Singapore (NUS) celebrated its 110th anniversary in 2015, our Department is today one of the largest department of Economics in the world and the best in Asia according to one global ranking survey. Several of our alumni have helped write many of Singapore's biggest success stories.
To build on our achievements, the department need to stay committed to attracting and nurturing the best minds based partly on their ability, and based partly on their financial need. Since 2010, the Department has with the cooperation of NUS Economics Alumni, a subset of our department, set up an NUS Economics Alumni Bursary. Currently it is an expendable fund which is being steadily depleted. To date it has benefitted 16 students with bursaries worth S$2,000 each.
Jane Teo, a Class of 2015 graduate, received financial aid. Her father was the family's sole breadwinner, supporting two children at university. Thanks to the bursary, Jane was able to focus on her studies instead of having to take on multiple part-time jobs. Now she is working and is in a position to help her family.
To help more students like Jane on a permanent basis, we are setting up the NUS Economics Alumni Endowed Bursary. An endowed fund would have long-term impact as the principal amount is preserved in perpetuity with the interest earned annually going to the support of students. It will not be depleted as with the case with the present expendable fund.
We hope to raise $250,000 for the Fund. This sum will be eligible for a government matching grant and so could total as much as $562,500. At steady state, this Fund will help up to six needy students per year. We are very heartened that a few of our alumni have indicated their support of the Fund by pledging over $160,000. A quarter of this has already come in.
We would like to ask you, as an individual who knows the value of your education and the role it has played in your life and society, to join us in supporting this meaningful initiative. Non-alumni of the Department and the University are also welcome to contribute to the Fund. Your support will allow us to help more needy but able students for years to come. Applicants need to have a good gradepoint average which indicates that they can go on to an honours year.
In recognition of gifts of S$25,000 to the Fund, the University may offer a sub-naming opportunity for a bursary award. A sub-named bursary award will create your legacy in education, or allow you to honour a former lecturer, family member, a friend or an organisation..
Please consider supporting this initiative generously. Should you require more details about this initiative, please feel free to contact Ms K Zin Myo from the NUS Development Office at 6516 1443 or email@example.com.
Thank you in advance for your generous support in making a difference to the future of generations of Economics undergraduates.
Prof Julian Wright
Head of Department
Monica Chang Rui Hua
Economics Alumni Committee