Here's how slow economy affected choice of scholarships for Singapore students

They prefer assistance from the public sector.

Students may have already been aware of the slowing growth pace of the Singapore economy, as they seek one that offers income stability and job security in their choice of scholarships.

According to the latest report by CareerBuilder, The Public Service Commission is the top pick of students as a scholarship provider. It joined five other public entities including the National University of Singapore, Nanyang Technological University, Agency for Science, Technology and Research, Civil Aviation Authority of Singapore, and Economic Development Board.

“The renewed interest in the public sector is not surprising given the slow growth in today’s economy. Students are cautious about their job choices – seeking one that offers income stability and most importantly, job security,” Marketing Director of CareerBuilder Singapore Jessica Ang said.

Only four out of the top 10 are private entities, including MOH Holdings Pte Ltd, Changi Airport Group, Singapore Airlines Ltd, and GIC Private Limited.

“Ultimately, a job in the public sector is still seen as an iron rice bowl,” Ang said.

Meanwhile, the report also noted that a small percentage of students are hesitant to apply for scholarships due to concerns including not wanting to be bonded, the length of the bond, and the academic requirements.