Complete guide to study abroad scholarships & financial aid for Singaporean students

You might be surprised by the sheer number of scholarships for studying abroad, and many of them are specifically designed for international students like you. Here's a breakdown of the different types of financial aid you can explore:  

Government scholarships 

Many overseas governments offer full study abroad scholarships to attract talented international students. Some popular ones include:  

• Chevening Scholarships (UK):  Funded by the UK Foreign, Commonwealth and Development Office, Chevening Scholarships are postgraduate scholarships in the UK awarded to outstanding individuals with leadership potential. They cover tuition fees, living expenses, and travel costs for master's degree programmes at any UK university. 

• Fulbright Scholarships (US): The Fulbright Program is an international educational exchange programme sponsored by the US government. It offers scholarships for graduate study, research, and teaching in the United States. 

• Australia Awards Scholarships: Australia Awards Scholarships are full scholarships for international students in Australia funded by the Australian government. They provide opportunities for students from developing countries to undertake undergraduate or postgraduate study in Australia and cover tuition fees, living expenses, and travel costs. 

You can also consider scholarships offered by your local government, which are typically bonded programmes that cover overseas study fees, living expenses, and other costs.  

Public Service Commission (PSC) Scholarship

The PSC offers scholarships for students committed to serving in the public sector. The PSC Scholarship (Foreign Service) supports outstanding Singaporean students pursuing undergraduate and postgraduate studies in various fields such as engineering, law, public finance, and teaching service at top universities worldwide. The scholarship covers tuition fees, maintenance allowances, and return airfare. Applicants must be Singapore citizens with strong leadership qualities and a solid academic record.  

Healthcare Merit Scholarship (HMS) 

Administered by Singapore's Ministry of Health, HMS supports students who are passionate about healthcare careers. It covers tuition fees, maintenance allowances, and return airfare for studies in fields like Medicine, Nursing, Pharmacy, Physiotherapy and other Allied Health disciplines at recognized universities overseas. Scholars commit to serving in Singapore’s public healthcare sector upon graduation. 

SAF Scholarship (SAFS) 

Offered by the Singapore Armed Forces (SAF), SAF Scholarship groom future leaders in Singapore’s defense sector. Recipients can pursue most disciplines at top universities abroad, with full coverage for tuition fees, maintenance allowances, and return airfare. Upon graduation, scholars are expected to serve in key roles in the SAF, contributing to national defense. 

Lee Kuan Yew Scholarship 

Lee Kuan Yew Scholarship supports postgraduate students who wish to pursue their studies at international or local universities. There are no restrictions on the course of study. While there is no bond associated with this scholarship, scholars are expected to actively contribute to Singapore’s development upon their return. 

University-specific scholarships 

Most universities have their own scholarships for international students, often based on academic merit, specific fields of study, financial need, or even extracurricular activities. 

Private scholarships and grants 

Various organisations and foundations offer scholarships and grants to students pursuing education abroad. These can be based on your background, field of study, or even your volunteer experience. A quick Google search for "free [your field of study] scholarships" or "[your country] study abroad scholarships" can uncover some hidden gems. However, be on the lookout for scholarship scams so that you don’t fall for any fraudulent or fake offers. 

International student loans 

If scholarships and grants don't cover everything, don't worry! You can consider exploring international student loans to help fund your studies. These loans are specifically designed to help bridge the funding gap for international students. However, it's crucial to research different loan providers, compare interest rates and repayment terms, and choose an option that suits your financial situation. 

Now that you know the types of overseas study scholarships available, it's time to start your search. Here's how to find and apply for scholarships effectively:  

1. Start early: The early bird catches the worm, or in this case, the scholarship! Start your search well in advance; ideally a year or more before your intended study abroad start date. This gives you ample time to research opportunities, gather the required documents, and craft compelling applications. 

2. Use online search engines: The internet is a treasure trove of scholarship information. Use online search engines and IDP’s dedicated scholarship database to find opportunities that match your profile and academic goals. 

3. Contact your university:  Don't underestimate the power of direct communication. Reach out to the international student office at your chosen university to inquire about scholarships, bursaries and other financial aid programmes they offer for international students. 

4. Network: Tap into your network of family, friends, teachers, and mentors. Someone you know might have valuable information about scholarships or connections to organisations that offer financial aid. 

 Key documents and requirements for scholarship applications:  

• Academic transcripts: Your academic transcripts are a crucial part of your application. They provide evidence of your academic achievements and potential. Make sure your transcripts are up-to-date and showcase your best grades. 

• Letters of Recommendation: Request letters of recommendation from teachers, mentors, or employers who can speak to your character, skills, and accomplishments. Choose recommenders who know you well and can provide specific examples to support their assessment. 

Example: "In my Advanced Biology class, [Student Name] consistently demonstrated a deep understanding of complex concepts. Their insightful questions and contributions to class discussions enriched the learning experience for everyone.  

• Statement of purpose: The statement of purpose is your opportunity to tell your story and explain why you deserve the scholarship.  Be authentic, passionate, and articulate your goals, aspirations, and how the scholarship will help you achieve them. 

Example: "Ever since I witnessed the devastating impact of [environmental issue] in my community, I've been driven to understand the science behind it and find solutions. This passion led me to pursue [your field of study], where I can contribute to creating a more sustainable future." 

• English language proficiency test scores: If you're applying to study in a primarily English-speaking country, you'll likely need to submit proof of your English language proficiency. IELTS scores are widely accepted by universities and scholarship providers worldwide across 12,500 institutions. Aim for a competitive band score to strengthen your application. 

 Tips for writing a compelling scholarship application  

• Tailor your application: Each scholarship has its own unique criteria and objectives.  Don't just use a generic essay for every application. Take the time to understand what the scholarship committee is looking for and tailor your application accordingly. Highlight your relevant skills, experiences, and aspirations to demonstrate why you're the ideal candidate. 

• Proofread carefully: Typos and grammatical errors can make a negative impression. Before submitting your application, proofread it carefully or have a friend or family member review it for you. 

• Follow instructions: It sounds obvious, but pay close attention to the application instructions and ensure you meet all the requirements. Missing a deadline or forgetting to include a required document can instantly disqualify you from consideration no matter how impressive your overall application.

Even if you're fortunate enough to receive a scholarship or other forms of financial support, it's essential to be financially responsible and manage your money wisely. Here are some tips to help you budget effectively and make the most of your resources during your study abroad experience: 

Estimate the cost of living in your city/country 

Research the typical cost of living in your chosen city through resources like Numbeo or Expatistan. Consider expenses such as accommodations, utilities, food, transportation, books, entertainment, and personal care. This will help you answer questions like “How much to study in Australia” or other destinations. 

Track your spending 

Always keep track of your income and expenses to ensure you're staying within your budget. Use a budgeting app, a spreadsheet, or a notebook to monitor your spending patterns. This will help you identify areas where you can cut back and save money. 

Here is a simple template and some categories to get you started: 

Best budgeting practices for international students 

Not sure how much to allocate for each expense? The 50/30/20 rule is a popular budgeting method that can work no matter where you are in the world. 

• 50% on Needs: This includes essential expenses like rent, utilities, groceries, transportation, and health insurance. 

• 30% on Wants: This covers discretionary spending like dining out, entertainment, shopping, and hobbies. 

• 20% on Savings and Debt Repayment: This portion goes towards building an emergency fund, paying off student loans (if applicable), or saving for future goals. 

Money-saving tips for international students  

Studying abroad is an incredible experience, but it can also be expensive. To make the most of your time while keeping your finances in check, try these money-saving tips:  

• Look for student discounts: Take advantage of student discounts for your study locations! Many businesses offer discounts on everything from movie tickets and museum entries to transportation and food. 

• Cook at home: Eating out frequently can be expensive. Learn some basic cooking skills and prepare your own meals at home. Not only will this save you money, but it can also be a fun way to explore new cuisines and connect with your housemates or fellow students. 

• Use public transportation: Public transportation is usually significantly cheaper than taxis or ride-sharing services. Familiarise yourself with the local bus and train network to save money on your daily commute. You can also save up to purchase a bicycle if your student city is cyclist-friendly. 

Opening a bank account and managing finances in a foreign country

Before you depart for your study abroad destination, research banks that offer services tailored to international students. Look for accounts with low fees, convenient online banking, and good customer support. You’ll typically need your passport, student visa, and proof of address (such as a dorm contract or rental agreement) when applying for a bank account in a foreign country.   Singaporean students may consider opening an account with HSBC or UOB, as these banks offer products that facilitate seamless transactions between home and abroad. 

HSBC Singapore

HSBC is a global British multinational bank with operations in Singapore and countries like the UK and Australia, some of the most popular study destinations. It enables you to open an overseas account in your destination country before you depart from Singapore.  

• HSBC offers fee-free* transfers between your HSBC accounts worldwide, making it cost-effective to move funds as needed. 

• With HSBC's online and mobile banking platforms, you can manage your global accounts from a single interface, allowing for convenient monitoring of balances and transactions across different countries. 

• HSBC Everyday Global Account allows you to manage up to 11 different currencies within a single account. The supported currencies include: 

• Australian Dollar (AUD) 

• New Zealand Dollar (NZD) 

• Sterling Pound (GBP) 

• Canadian Dollar (CAD) 

• US Dollar (USD) 

• Euro (EUR) 

• Hong Kong Dollar (HKD) 

• Japanese Yen (JPY) 

• Chinese Renminbi (RMB) 

• Swiss Franc (CHF) 

• If you or your parents hold an HSBC Premier account, you can extend Premier privileges to your overseas account. This includes access to exclusive services and emergency support, providing peace of mind while studying abroad. 

UOB Singapore

UOB's Mighty FX is a multi-currency account designed to facilitate seamless foreign currency transactions, making it a suitable option for students planning to study abroad.  

• To utilize Mighty FX, you need to have a UOB base account, such as the UOB One Account or KrisFlyer UOB Account. Once linked, you can manage multiple currencies through the UOB TMRW app. 

• Mighty FX allows you to hold and transact in 11 currencies, including AUD, CAD, EUR, GBP, NZD, and more. 

Not all study abroad scholarships cover living expenses or daily spending. Working part-time while studying abroad can be a great way to supplement your income, gain work experience, and enhance your resume. However, it's important to understand the regulations and restrictions that apply to international students. 

Before you start applying for jobs, carefully review the terms of your student visa. Some visas may restrict or prohibit part-time work, while others may allow it with certain limitations (e.g. up to 20 hours during term time). Adhering to these limits is crucial to avoid jeopardising your visa status. 

You can also check with your university for part-time positions as a research assistant or school library personnel. Jobs like these are conveniently located on campus and may even lead to longer-term placements as you advance in your programme. 

If you're looking for a wider range of job opportunities, consider seeking part-time work off-campus. Cafes, restaurants, retail stores, and tutoring services (both physical and online) are common options for international students. Websites like Indeed, Seek, Fiverr, and Gumtree can be helpful for your job search. 

Tips for balancing work and studies effectively 

If you do decide to work part-time while studying, you’ll need to hone certain non-academic skills to ensure you can juggle multiple priorities simultaneously: 

• Time management: Create a schedule that allocates sufficient time for both your academic commitments and your part-time job. Prioritise your studies and ensure that work doesn't interfere with your academic progress. 

• Don't overcommit: It's easy to get caught up in the excitement of earning extra money, but don't overcommit yourself. Taking on too many work hours can lead to burnout and negatively impact your studies. In the worst-case scenario, poor academic performance may lead to retention, suspension, or expulsion. 

Funding your education abroad as an international student might seem daunting, but with the right information and resources, it's totally achievable. And IDP is here to provide support and guidance every step of the way: 

• Scholarship search tool: IDP's online scholarship search tool can help you find scholarships that match your profile and academic goals. Simply enter your information and preferences, and the tool will generate a list of relevant scholarship opportunities. 

• Expert education advice: IDP's experienced education counsellors can offer personalised advice on scholarships, financial aid, and budgeting. They can help you understand the financial aid application process, identify suitable scholarships, and provide guidance on how much you need to study abroad. 

Book a free counselling session with an IDP education consultant today to discuss study plans and financial options for going abroad. Whether you’re seeking scholarships to study in Australia or comparing New Zealand scholarships for international students, our counsellors can provide tailored student services and advice based on your individual circumstances and help you make informed decisions about funding your studies. 

So, what are you waiting for? Embark on your overseas studies with IDP today!