More PTPTN loan for students.
From NST today. Good news for moderate background students.
PUTRAJAYA: Students from families earning less than RM3,000 a month will qualify for full loans from the National Higher Education Fund Corporation (PTPTN) from March 1, following a revision of the household income requirement by RM1,000.
Previously, a student was eligible for a full loan if his parents earned less than RM2,000 a month.
Those from families earning from RM3,001 to RM5,000 a month are entitled to half of the full loan amount, while students whose families earn RM5,001 and above can take a loan to cover university fees.
“Previously, the income threshold criteria was more restrictive, but now, we have liberalised it to make the loans accessible to more people,” said Higher Education Minister Datuk Mustapa Mohamed after briefing staff of private institutions of higher learning (IPTS) on the fund’s new lending policies yesterday .
The changes were approved by the Cabinet on Feb 14.
They include an increase in the maximum loan amount for Bachelor of Medical Science students at private institutions from RM20,000 per year to RM30,000, effective March 1.
Diploma-level students at private institutions also get a higher maximum loan of RM8,000 per annum from RM5,000 previously.
Mustapa said the increments would benefit 42,616 new diploma and 318 medical science students.
Existing students would enjoy the new loan scheme from the second semester this year, without backdated arrears.
For the first time, the corporation has made it compulsory for parents or guardians to stand as guarantors for their children’s loans.
A new ruling, to be effective Jan 1 next year, will require “forced savings” by parents in the National Education Savings Scheme (SSPN) before their children can be eligible for loans.
Parents earning more than RM2,000 a month must save RM3,000 in the scheme, and those earning less than RM2,000 a month must save RM500.
Meanwhile, a Bernama report said that the PTPTN would extend loans to Master’s-level courses with an initial fund of RM500 million.
PTPTN board member Datuk Dr Zulkefli A. Hasan, who is the Higher Education Ministry secretary-general, said the decision was reached last week.
Technorati Tags: ptptn
