SIM marks 60 years with $60m fund to offer students scholarships, fee subsidies

Nearly 500 Singapore Institute of Management (SIM) students from lower-income families will receive scholarships and tuition fee subsidies under a new $60 million fund by the school.

- Gabrielle Chan

Starting in 2025, the SIM Impact Fund will provide Singaporean and permanent resident students from families with a per capita income of $1,750 and below with up to $13,500 in financial aid annually, said Ms Euleen Goh, chairwoman of SIM, on Nov 28.

The fund will also support merit awards for students, said Ms Goh, and provide students from lower-income households financial support for overseas student exchanges and internships, among other initiatives.

She was speaking at the institution's learning festival to mark its 60th anniversary, held at the SIM Clementi Campus.

President Tharman Shanmugaratnam was the guest of honour at the event, which attracted 600 industry partners, SIM alumni and educators. He received a cheque for $3 million - drawn from SIM's fund - as donation to the President's Challenge.

Ms Goh said up to $5.7 million from the fund will be disbursed annually over the next 10 years, as part of the institution's commitment to make education accessible to all.

Part of the fund will enhance the financial aid for students from lower socio-economic backgrounds, she added.