New scholarship for ITE students comes with financial sector internships, $3000 study award
Source: The Straits Times
Author: Gabrielle Chan
SINGAPORE - Students at the Institute of Technical Education (ITE) can now apply for a scholarship with internship opportunities in the financial sector, allowing them to gain industry exposure and explore various roles.
In this one-off arrangement, 50 eligible ITE students will receive a study award of $3,000 and a 5-month internship offering an $800 allowance per month, in financial institutions such as Maybank Singapore, OCBC and J.P Morgan.
The scholarship is open to Singapore citizens who are in their final year of Higher Nitec courses at ITE's School of Business and Services and the School of Electronics and Info-comm Technology to be eligible.
They must have a GPA of 2.8 and above at the time of application, good conduct and attendance, and a passion to enter the financial sector or pursue a Work-Study Diploma in financial services after graduating from ITE.
Offered by the Institute of Banking and Finance (IBF) to mark its 50th anniversary, the scholarship is a collaborative effort between IBF, ITE and 13 financial institutions.
Ministry of Trade and Industry Gan Kim Yong, who was the guest-of-honour at the scholarship launch held at ITE College East on May 14, said that the financial sector is growing, and he wants to see more Singaporeans from diverse backgrounds pursue careers in this industry.
"ITE graduates are part of this talent pipeline, and this scholarship will allow them to gain industry exposure and explore career opportunities in the financial sector," said Mr Gan, who is also the Deputy Chairman of the Monetary Authority of Singapore.
Applications will be open online from May 14 to June 3, and eligible applicants will have to go through an interview in July.
In August, selected applicants will be offered the scholarship, and their internships will commence in October and run till Feb 28, 2025.
Mr Khyber Ang, 19, is currently pursuing a Higher Nitec in Accounting at ITE College East, and said that he hopes to further his interest in accounting through this scholarship, while creating a stable career for himself.
When he first applied for ITE in 2022, he did not meet the cut-off point for his accounting course, and had to appeal to the school. "This is what made me want to make the most of time here," Mr Ang said.
"I felt drawn to the prestige of these institutions, and thought that if I had a chance to have their names on my resume, it would be good for my career," said Mr Ang, who will be graduating in March 2025.
"Everyone has a different starting point," said Mr Ang. "You can be from a very simple background like me, who almost could not make it into ITE, but if you work hard and network, you will be presented with opportunities that lead you to success."
Students will be able to engage industry experts and mentors, as well as gain industry-relevant skills during this internship, said Mr Gan, adding that he hopes industry partners will see the value of the students and leverage their capabilities.
IBF and ITE will continue to work together to explore the potential of a new Work-Study Diploma in the financial industry, said Mr Gan.