From 1 January 2013, the Fund earmarks an allocated amount to extend support to post- secondary students in ITE, Junior Colleges and Polytechnics at $125 a month for up to four academic years.
The money is given to the children and youth through the mainstream schools, family service centres, children's homes, disability homes and special homes.
A study conducted in 2009 and 2010 by the National University of Singapore department of social work to gauge the impact of the pocket money on these children and youth indicated that they are likely to do better in school, be more active in co-curricular activities and are less self-conscious about not having money.
Applicants have to meet a fixed set of criteria in order to be eligible to receive pocket money assistance.
Applicants have to fulfil the following criteria to be eligible for the Fund:
Post-secondary students will receive up to four years of financial assistance to see them through their education, regardless if they have received STSPMF assistance previously in Primary or Secondary education.
The outcome of the application will depend on the assessment of the schools, social workers and STSPMF.
*For applications from 2024