Known as one of the largest authorities in finance, GIC governs the foreign reserves of Singapore. If you can’t believe it, then believe its name since GIC stands for Government of Singapore Investment Corporation. Since 1981, GIC has been handling the foreign financial affairs of Singapore and has been overseeing the whole department with its small staff. As years went by, the investments grew, and the need for talented staff continued to grow as well. In order to support its future interns, GIC has established a scholarship fund called GIC Scholarship that funds your college education and help you prepare for your future place at GIC. If you are interested in finance or in business, I would definitely encourage you to check out this scholarship.
Eligibility Requirements / Values of GIC Scholarship
This is probably the part that you are most worried about and for good reason! Many full-ride scholarships have been full of restrictive requirements that eliminate even most international students; however, the eligibility requirements for GIC Scholarship are quite lenient but the competition is very high. If you want a place at GIC, you have to work at it since this scholarship is merit-based. The following list down below is the eligibility requirements of GIC, so be sure to pay attention to even the smallest detail!
- Be an Applicant (Nationalities Doesn’t Matter!)
- Have Strong Leadership Qualities, Critical Thinking Ability, and Creativity
- Have a Passion for Working at GIC and Also Excited About Your Future Career
As you can see above, the eligibility requirements for GIC Scholarship isn’t that bad at all. First, you don’t have to be a citizen from a certain country, but students from any nationality can apply for this scholarship, which means increased competitions since you have a larger pool of applicants. Second, the character attributes are shown through your academic achievements and through your participation in extracurricular activities, so be sure to take care of this requirement since merit is probably the most important aspect of your appplication. Last but not least, you can gain the passion and the excitement for your future career at GIC by learning more about what they are currently doing at Government of Singapore Investment Corporation.
Benefits of GIC Scholarship
- Full Coverage of Tuition, Room & Board, and Mandatory Fees
- Stipend for Outside Learning Opportunities
- Stipend for Return Airfare (Overseas Study)
As you can see, this scholarship is worth basically the same as a full-ride scholarship, but please keep in mind that you are required to work with GIC after your scholarship period ends. If you do become a GIC Scholarship Recipient, you will receive all the benefits listed above, but you need to complete additional requirements during and after your educational period.
Required Servive Duration of GIC Scholarship
You thought that all scholarships came with no strings attached, but this scholarship does since GIC Scholarship is offered by a private organization, and they can add whatever additional requirements that they want since it is their money! If you already want to work with GIC, then this is probably an additional way to get closer with your future company and with your co-workers; however, if you don’t want to work with GIC after your scholarship period, you have to fulfill your service requirements first and then, go find your next job.
Two Types of GIC Scholarships
- Full-Term Scholarships
- Mid-Term Scholarships
Full-term scholarships are for students going into undergraduate education (bachelor’s degree), and the mid-term scholarships are for students in the second year or in the third year of their undergraduate education. The reason why I mentioned this fact now is that the service requirement will change depending on which scholarship that you receive. Also, the country that you want to study in does matter since your service requirements will either grow in number or get less.
Service Requirements for Full-Term Scholarship Recipients
- If Studying in Singapore, the Service Duration is 3 Years
- If Studying in Japan, Germany, or China, the Service Duration is 4 Years
- If Studying in US / UK, the Service Duration is 5 Years
Service Requirements for Mid-Term Scholarship Recipients
- For Every Sponsored Year of Study
- If Studying in Singapore, 1 Year
- If Studying Overseas, 1.5 Years
The service requirements for full-term scholarship recipients are pretty straight-forward while the service duration for mid-term scholarships can be confusing for some. If you receive the mid-term scholarship, you need to work either 1 year (Singapore) or 1.5 years (Overseas) for every sponsored year of study. For example, you will need to service for 3 years at GIC if you studied in Singapore for three years. The same service duration of 3 years applies for studying overseas for 2 years since 2 times 1.5 is 3.
To Apply for GIC Scholarship, Click Here.
Conclusion: Internships and More!
You might be kind of discouraged due to the service requirement, but it might be a postitive thing to work with GIC after your college graduation. There are some college graduates out there who can’t find employment even though they graduated from a 4 year institution, but this scholarship took care of your future employment by offering great internship opportunitites and service career with GIC, which is one of the leading companies in finances and business. In addition, they offer great career opportunities in these areas for GIC Scholarship Recipients. Also, thank you so much for reading my post, and be sure to visit other scholarship guides at my hompage.