09 October 2017
Singapore Management University has introduced a bond-free scholarship that is co-funded by ARA Asset Management and Lim Hoon Foundation in collaboration with the university.
This current scholarship endowment fund stands at $4 million. Each year, up to 12 undergraduates will be awarded the ARA-LHF Scholarship. The value of each scholarship is $10,000 yearly for four years of study.
The bond-free scholarship aims to help students whose family incomes disqualify them from financial assistance schemes but are still struggling financially.
ARA group chief executive John Lim said: “I wanted to help students of the ‘sandwiched class’ get through their tertiary education without having to worry about finances.”
The scholarships are awarded to undergraduates who are Singaporeans or Singapore permanent residents and enrolled in SMU’s Lee Kong Chian School of Business, School of Accountancy or School of Economics.