In the middle of 1978, the government announced that all new medical students had to sign a $81,000 5-year bond. At the same time, to make it equitable, all existing 2nd to 5th year medical students had likewise to sign a similar $81,000 bond regardless of duration of their bond (the duration varies for 2nd to 5th year with the 2nd year student having to sign a 4 year bond and the 5th year student a 1 year bond). To make it more acceptable, the bond is concurrent with national service for the male medical students who have to serve national service. Hence, a 4th or 5th year male student is not affected as his 2 or 1 year bond is covered by the period of national service.
But most of the existing private medical students protested because we argued that when we joined the medical school, there was no such medical bond. To impose a bond half way through our studies was in principle wrong. We protested for 88 days. The bond was revised twice and in spite of the revision, we the final year private students who were supposed to sign in batches of 10, refused to sign the revised bond.
Finally, Dr Toh Chin Chye, the then Health Minister, agreed to see us and he accepted our declaration of intent (the deed) as proof of our intent to serve in public hospitals without the sum of $81000.