SMU launches S$60 million impact fund to support underprivileged students

SINGAPORE: In celebration of its 60th anniversary, the Singapore Management University (SMU) has announced the launch of a transformative S$60 million impact fund aimed at providing students from lower socioeconomic backgrounds with greater access to education.

The initiative significantly expands the institution’s support for financially disadvantaged students and marks the school’s dedication to creating a more equitable educational environment while nurturing a generation of leaders prepared to drive meaningful change.

According to a statement from SMU, the fund will allocate up to S$6 million annually starting next year to support a range of initiatives. These include scholarships, awards, and programs designed to empower students with the opportunity to study locally or abroad.

The initiative will run over the next decade.

This new commitment marks a sixfold increase from the university’s average annual investment of S$1 million in such initiatives over the past five years.

To further strengthen its mission of inclusivity and excellence, SMU has introduced two new merit-based awards.

New undergraduate students who excel academically and exhibit traits of resilience, responsibility, resourcefulness, and leadership will be awarded $51,000 from the SIM Starrr Award. This award is available to up to five students.

Undergraduates from ASEAN countries with a household per capita income of up to $1,750 are eligible for a $3,000 award if they demonstrate strong high school results and exhibit leadership qualities. This award can be granted to up to ten students.