In its latest budget, Singapore announced that it will provide a subsidy for all workers over 40 to go back to school.

 

Today every Singaporean gets a $500 SkillsFuture Credit that it can put towards training, and all employers support to train their workers. 

 

With the new budget, the ministry of finance announced that all Singaporeans aged 40 and above will receive $4,000 more to spend on training for jobs with better employability outcomes. This includes part-time and full-time diploma, post-diploma, undergraduate programs.

 

Singaporeans over 40 will also get a subsidy to do a full-time degree. "Even after you have graduated from an Institute of Higher Learning as a younger person, you can come back again after you turn 40 to do a full-time diploma, and it will be at subsidised rates," announced the Deputy Prime Minister.

 

Tuition subsidies will be complemented by a monthly training allowance that equals 50% of one’s average income over the last year (capped at $3,000 per month). Every individual can receive up to 24 months of such a training allowance throughout their lifetime.