More Singaporean students who are studying at the London School of Economics and Political Science (LSE) may be able to get bond-free scholarships.
This is thanks to a gala dinner held by the LSE Alumni Association of Singapore which raised $1 million at Marina Bay Sands on Saturday.
Deputy Prime Minister Tharman Shanmugaratnam, a former LSE student, was guest of honour at the event to mark the association's 40th anniversary.
Money raised will go towards scholarships for Singaporean students studying at the university.
The funds will be managed by the Singapore LSE Trust, set up in 2004 by alumni of the school. It has given out 14 scholarships so far to both undergraduates and post-graduates.
This changed last year when they were only awarded to undergraduates, as it believed there was a greater need at the undergraduate level and wanted to focus more on helping students attain their first degree.
It hopes to help more needy students with their school fees, which cost up to £15,000 (S$30,000) per year.
The group said this is the first scholarship of its kind here. Ms Jane Ittogi, who chairs the Singapore LSE Trust, said it receives about 10 to 20 applicants each year, and the recipients are mostly from students from single-parent or single-income families.