Since 1991, Pei Hwa Foundation has been giving out scholarships and bursary awards. In April every year, about 300 students from primary schools to tertiary institutions convene at Pei Hwa Secondary School (PHSS) to receive these awards. They include students from primary schools to tertiary institutions in Ang Mo Kio estates, children of members of Pei Hwa Alumni and present students and graduates of PHSS. Previously held at Yio Chu Kang Secondary School, the awards not only aid students financially in their pursuits of academic excellence, but also recognise their achievements and encourage them to fulfil their potential in school as well as in the community and society.