GIC SCHOLARSHIP IN SINGAPORE AT A GLANCE
The GIC, or GIC, formerly known as the Singapore Government Investment Corporation, is a sovereign wealth fund established by the Government of Singapore in 1981 to manage Singapore’s foreign reserves.
The scholarship is available to students who would not normally be able to afford higher education in a foreign country. Scholarship sponsor, GIC is a global long-term investor working to secure the financial future of Singapore across generations. Eligible international students are encouraged to take advantage of the scholarship opportunity.
Who we are
GIC is a global long-term investor that works to secure Singapore’s financial future across generations. We manage most of the Government’s financial assets and invest for the long term to preserve and enhance the international purchasing power of the funds we manage.
We are one of the largest global investors in public market instruments. Investing across both developed and emerging markets, we have established a well-diversified portfolio to produce sustainable, superior returns. Our total Private Market portfolio is spread across private equity, infrastructure, and real estate asset classes. This portfolio of private assets is geared toward delivering sustained long-term returns. It is also designed to reap positive real returns from investments with longer holding periods, allowing us to optimize the full potential of the market.
Why reserves matter
The reserves are a critical resource for Singapore’s future. First, they are a valuable buffer or shock absorber during downturns. Second, a strong national balance sheet fosters investor confidence and enhances the stability of the Singapore dollar. Third, income from the reserves supplements government revenues.
Singaporeans benefit from the returns of GIC, as well as of MAS and Temasek, as they supplement the annual Budget through the Net Investment Returns Contribution (NIRC). This contribution has allowed the Government to make further investments for the long term, such as in education, R&D, healthcare and improving our physical environment.
- Scholarship Host Country: Singapore
- Donor: GIC or formerly known as Singapore Government Investment Corporation
- Study level: Bachelor’s
- Gender: both gender
- Deadline: December 31
- Good academic results in GCE ‘A’ Level, International Baccalaureate, Polytechnic Diploma or NUS High diploma
- Good CCA/NS records or external involvement in community service
- Candidates with strong critical thinking, creativity and leadership qualities
- Students of all nationalities are welcome to apply
- Applicable only to Pre-Tertiary students
- Local: 3 years
- Overseas: 4 years (Non-English speaking countries); 5 years (UK/US)
Field of Study
- All disciplines excluding Medicine and Dentistry
- All tuition and compulsory fees.
- Monthly living allowance.
- One-time pre‐studies allowance for warm clothing, settling‐in, etc.
- Return economy airfare.
- Opportunities for sponsorship of student exchange, summer programs, and foreign language studies.
- Internships during the second year of study.
- Sponsorship for Masters upon approval by management.
What is the key criteria for a GIC scholarship applicant?
At GIC, we value qualities such as intellectual curiosity, interpersonal skills, leadership, problem-solving and decision-making skills, and self-management. Candidates typically demonstrate these through outstanding academic and co-curricular activities and leadership experiences.
Are there specific undergraduate courses that GIC looks out for?
We value a diversity of perspectives and ideas, and see education as a training of the mind. Our scholars come from a wide range of fields including, but not limited to, Accountancy, Economics, Engineering, to the Arts.
Are there limited places for scholarships each year?
We do not look at numbers, but more at the suitability of our candidates.
Is a perfect score crucial to becoming a GIC Scholar?
Excellent academic and co-curricular records are important, however a perfect score is not necessary. We look at your candidacy holistically.
Do I need very good knowledge of finance/investment-related terms to be selected?
It isn’t a pre-requisite, but an interest in finance is helpful, given that your career will be in the finance sector.
How relevant must my university course of study be to my everyday work? Will it enable or limit me later in my career?
Our people come from a variety of backgrounds spanning Economics and Finance, the Sciences, Engineering, Computing and Law. The focus is more on the training of the mind. If you did not do Finance-related courses, you may face a slightly steeper learning curve at the start. That’s why we encourage our scholars to gain exposure and learn about finance and investing both within and/or outside of their academic courses.
What would my career progression be like?
We believe that meeting our employees’ career aspirations is key to nurturing and preserving GIC’s intellectual capital. As we invest globally in more than 40 countries from our offices in 10 cities, you can look forward to job rotations and overseas posting opportunities with GIC. This would be based on your inclination, performance and our business needs.
As a non-Singaporean, can I apply for the GIC Scholarship?
Yes. At GIC, we value diversity, and are open to all nationalities for applications.
How many rounds of interviews are there? What’s the set-up at each round?
Each candidate may experience different combinations. Generally speaking, you’ll need to go through online assessments, interviews, and activity-based assessments. You will have the opportunity to meet with senior management in the final panel interview.
Can I apply for the scholarship before I secure a place at a university?
Candidates typically apply for the scholarship and universities concurrently. We will discuss your choice of universities and courses of study with you during the selection process.
What advice do you have for those exploring their scholarship options?
We encourage students to think about the kind of career they see themselves in when choosing a scholarship. They should also find out as much as possible about the organizations they are interested in working for. A scholarship should not merely be a means to fund your education.
What is the application timeline for the GIC Scholarship Programme?
Scholarship application is open from now for 2022 intake. You can use your preliminary results if available or predicted ‘A’ Level/IB Programme results.