Part of the fund would cater for brilliant but needy pupils of Dadwen while the remainder would be used for the purchase of computers for the school library.
Speaking at the launching ceremony, Mr Rexford Agyemang, Chairman of the Board of Directors of Dadwen School Complex at Wassa Nsuta said about five million cedis was written off because parents could not pay the approved fees.
Mr Agyemang said the idea of launching the fund was mooted out at one of the board meetings.
He said management of the school had set up a mechanism to ensure effective maintenance of the computers.
Mr John Blair Ackah Benso, a Circuit Supervisor of Education commended the efforts of the board of directors for setting up the educational fund and said this would compliment the efforts of government in the delivery of quality education.
Mr James Nelson Amoah Headmaster of the school said the computer workshop would be beneficial to the students.