​What is the Work-Study Support Programme?

The Work-Study Support Programme (WSSP) is a workforce and leadership development initiative supported by the Financial Sector Development Fund (FSDF). Its objective is to build Singaporean talent pipeline and produce job-ready graduates for the Financial Services sector, through encouraging the take-up of SkillsFuture Work-Study Degree Programme (WSDeg) for structured internships at  financial institutions (FIs). 

The WSDeg is a part of a suite of Work-Study Programmes offered by Institutes of Higher Learning (IHLs).  WSDeg is a work-study programme that allows students to acquire deep, work-relevant skills, which will help students better transit to the workplace upon graduation. WSDeg achieves this by closely integrating classroom learning with structured on-the-job training. These programmes involve companies and universities co-designing and co-delivering curricula that closely interconnect theory and practice, as well as co-assessing students’ performance at the workplace. For more information on WSDeg, please visit: https://www.skillsfuture.gov.sg/wsdeg.


​Eligibility

  • Applicants must be a Singapore-based FI that is regulated by the MAS (licensed or exempted from licensing by MAS).
  • Eligible students must be Singapore citizens who are matriculated as students in one of the approved SkillsFuture Work-Study Degree Programme (WSDeg).
  • Eligible programmes must be approved by the Ministry of Education (MOE) as WSDeg programmes. The latest list of approved WSDeg programmes can be referred via https://www.skillsfuture.gov.sg/wsdeg

​Funding support 

The WSSP helps defray part of the costs incurred by FIs in the hiring of Singaporean students who would be trained under the WSDeg programme. It adopts a co-funding model to subsidise the training stipend paid by FIs when engaging Singapore citizen students in WSDeg programmes as interns. FIs may seek reimbursement of 80% of training stipend paid, capped at S$1,000 for every month of internship completed by each eligible WSDeg student. 

The eligible period of funding is aligned to the approved duration and structure of the respective WSDeg programme. 

Subsidies are made on a reimbursement and annual basis. Details of the claims process (including the claim form and due dates for submission of claim form) will be outlined in the Letter of Offer provided to successful applicants. 

​How to apply

*AU refers to Autonomous University

To apply, please contact IBF for the application form at wssp@ibf.org.sg

Each programme application will be assessed on a case-by-case basis. Please note that applications should be submitted to IBF at least two months before the commencement of the programme.

Please also reach out to us at wssp@ibf.org.sg should you be interested to curate a new WSDeg programme to meet your hiring needs. We will connect you with the preferred AU for further discussion.