Retrenched parents get help

SOME 200 retrenched parents will get help from a new financial aid scheme introduced by OCBC Bank and NTUC First Campus on Tuesday.
The OCBC-Bright Horizons Fund (OCBC-BHF) Retrenchment Relief Scheme aims to help those who have lost their jobs to send their children to pre-school.

The scheme is worth $500,000 over two years. OCBC Bank has donated $200,000 to the cause and the Bright Horizons Fund (BHF) will match this with $300,000 over the two years.

Parents who have been retrenched and whose net household income is below $2,200 a month or $600 per capita are eligible to receive aid when they send their children to NTUC First Campus' My First Skool. The scheme will cover three months school fees.

Depending on the child's age, school fees at My First Skool range from $480 to $585 per month.

The scheme was officially launched on Tuesday at My First Skool at Toa Payoh by OCBC Bank Chairman Dr Cheong Choong Kong and Mr Lim Boon Heng, Minister in the Prime Minister's Office and Chairman of the Fund's Board of Trustees.

'This scheme, very appropriately launched in these difficult times, will ensure that no child at NTUC First Campus will have to stay home because of financial problems,' said Dr Cheong.

Mr Lim pointed out the importance of pre-school education, saying it is 'vital' for children during their foundation years.

'We want to ensure that their learning process continues seamlessly, regardless of the economic situation,' said Mr Lim. 'We started this new scheme because we expect a bigger need for financial assistance for this recession.'

The OCBC-BHF Retrenchment Relief Scheme is on top of the Government's centre-based financial assistance scheme (CFAS) for low-income families.

- The Straits Times