Application to a Singapore-sponsored scholarship for 2012 is now open until Jan. 17.

The Dr. Goh Keng Swee Scholarship Fund supports up to 4 years of undergraduate study, providing tuition and other compulsory fees; return airfare to Singapore, as well as living allowances.

It was set up by the financial community in Singapore in honor of the country’s former deputy prime minister, who fostered Singapore’s economic development as an international financial centre.

The private sector scholarship administered by the Association of Banks in Singapore awards up to four scholarships each year to outstanding individuals from 15 Asia Pacific economies. Students from Brunei, Cambodia, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, China, Taiwan, Vietnam, Thailand, Laos or Myanmar may be selected to pursue undergraduate studies at local universities in Singapore.

Scholarship students may attended the National University of Singapore, Nanyang Technological University, Singapore Management University or the Singapore University of Technology and Design.

Applicants should also be applying for study at one of these institutions, and make private arrangements to sit the required university admission tests.

Candidates below the age of 25 are preferred for the highly selective scholarship, and should be able to demonstrate good leadership qualities as well as possessing good co-curricular activities.

The course should preferably be relevant to the financial sector and successful candidates are required to work for three years upon completing their studies in either an approved company in Singapore or a Singapore-based company in their home country.

Go to the www.pscscholarships.gov.sg website or email tan_yong_li@psd.gov.sg for more information.