KUALA LUMPUR, July 21 — About 180,000 new students receive financial assistance from the National Higher Education Fund Corporation (PTPTN) annually, said its chief executive Ahmad Dasuki Abdul Majid.
The agency, he said, is a saviour to the nation’s children to help them achieve their ambitions.
He said this gives them the opportunity of increasing living standards for their family and in the country.
“Almost 50 per cent from the nearly 350,000 students accepted into institutions of higher learning (IPT) each year receive PTPTN loans. Only some 27,000 borrowers were sponsored when PTPTN was first established,” said Dasuki on Bernama Radio.
“After 27 years, PTPTN reached maturity in ensuring no student drops out from furthering their education at IPTs due to financial problems.”
Dasuki said PTPTN introduced the loan advance payment (WPP) in 1999, with an amount of RM1,000, which has been increased to RM1,500, to prepare students before they enrol in IPTs and polytechnics.
He said PTPTN endeavours to change the public’s perspective so it is not only seen as a lender and debt collector, but as an education fund for Malaysians.
He said in 2004, the first product of the National Education Savings Scheme (SSPN-i), which is now known as Simpan SSPN Prime, was launched, and in 2015, Simpan SSPN-i Plus was created.
Simpan SSPN Prime offers free matching grants of up to RM10,000 to eligible students whose parents’ monthly income does not exceed RM4,000.
“The perception of PTPTN as a savings fund has increased over the last two to three years through active promotion and information, including field trips to schools,” said Dasuki.
“Matching grants are financial incentives offered to children who are accepted and enrolled in any IPT recognised by the government.”
He said PTPTN helps the community make financial plans for their children’s education from an early age, which can eventually produce debt-free graduates through Simpan SSPN.
“With the savings instrument created by PTPTN, the problem of dropping out among students who want to continue their studies can be overcome as this savings product offers free takaful protection,” he said.
Dasuki emphasised that PTPTN’s efforts will continue as its mission is to encourage savings and ensure children will not be burdened with debt after graduation, thus reducing society’s loan dependence.
— Bernama
