There are about 500 colleges and universities and all of them are lowering their entry requirement to compete for more students. As a result, many graduates cannot find employment.

In view of the growing serious problem of graduate unemployment and the recent disclosure by Deputy Education Minister Senator Chong Sin Woon that a university degree is not a ticket to employment and may even be a stumbling block, I have decided that my financial support programme for students to do a foundation programme at local universities will come to an end on Feb 28, 2016.

In the meantime all applications for support that reach me before end February 2016 will still be eligible for consideration for support from that programme.

Applications reaching me after that date will be sent back with a note announcing that the financial assistance programme has ceased and is no longer available.

I would also like to assure the public that my commitment to supporting education will continue but will take other forms to be decided upon after my discussion with educationists and other experts in the field.

KOON YEW YIN, a retired chartered engineer, is a philanthropist.