You might have received an annual letter informing you of your balance or heard about it from your friends, but what is the Post-Secondary Education Account (PSEA)?

From upskilling yourself with PSEA-eligible courses to offsetting your student loans, here’s what you can do with your PSEA!

Question: What is PSEA?

The Post-Secondary Education Account (PSEA) is administered by MOE and is automatically available for all eligible Singaporeans.

PSEA can be used for the following types of courses:

a) Full qualification courses, skills-based modular courses, approved modular and short courses leading to certificates that are offered by the publicly-funded autonomous universities (AUs), polytechnics, and Institute of Technical Education (ITE);

b) Approved government-subsidised full qualification courses, modular courses, and short courses leading to certificates, that are conducted by Nanyang Academy of Fine Arts and the LASALLE College of the Arts, public agencies, and private training providers;

c) Programmes in government-supported Special Education schools; and

d) Training courses for persons with disabilities under SG Enable.

Funds in your Post-Secondary Education Account (PSEA) can be used to pay for you or your siblings’ approved programmes in MOE’s list of approved institutions. It can also be used to repay government education loans and financial schemes such as Tuition Fee Loan, Study Loan, or Overseas Student Programme Loan. 

Question: How can I check the balance on my PSEA?

An annual statement of your PSEA is mailed to you by the end of March every year. This will be sent to you every year, until your account closes in the middle of the year when you turn 31. Alternatively, you can call the 24-hour automated PSEA hotline at 6260 0777 to check your latest PSEA balance.

For PSEA transactions that occur in that month, a statement will be sent to you in the following month.

Question: What happens to my PSEA after I turn 31?

Your PSEA will be automatically closed in the middle of the year when you turn 31. The unused funds in the account will be transferred to your CPF Ordinary Account (CPF-OA).

You can also transfer the balance in your PSEA to your sibling’s existing PSEA (if applicable) when you receive the transfer option letter from MOE in the year you turn 31 years old.

Question: Can I earn interest in my PSEA?

The PSEA earns interest pegged to the CPF-OA, which is currently 2.5% per annum.

Question: What type of SkillsFuture courses can I use for my PSEA?

There are more than 13,000 courses on MySkillsFuture that are applicable for use with your PSEA. Visit our course directory page for the full list of PSEA-eligible courses that include the likes of digital marketing, coding and nursing courses.

If you need help deciding which course to sign up for, speak with the friendly Skills Ambassador at the Skills And Training Advisory programme. This complimentary service lets you receive recommendations on suitable courses and programmes that are suitable for your career needs. You can choose to do it online or to visit any of the 10 SGUnited Jobs and Skills Centres/Careers Connect located islandwide.

Question: I do not have enough SkillsFuture Credit to sign up for a course. Can I use my PSEA to offset the remaining cost?

Yes, you can use the funds in your PSEA to offset the remaining cost of a PSEA-eligible course. Take note that if you’re applying for both SkillsFuture Credit and PSEA to defray the course fee, SkillsFuture Credit will be used for fee payment before PSEA.

Question: How can I apply for a course using my PSEA?

To withdraw the funds in your PSEA account, simply complete the ad-hoc withdrawal application form and submit it to the training provider. Take note that you will have to submit another ad-hoc withdrawal application form if you’re looking to make another withdrawal.