Seize PTPTN in­cen­tive, par­ents told

New Straits Times - - News -

ALOR STAR: The Na­tional Higher Ed­u­ca­tion Fund Cor­po­ra­tion (PTPTN) urged par­ents to take ad­van­tage of a spe­cial in­cen­tive an­nounced by the gov­ern­ment when open­ing an ed­u­ca­tion fund for their chil­dren when they en­ter Year One.

Its deputy chief ex­ec­u­tive of­fi­cer (pol­icy and op­er­a­tions), Mas­tura Mohd Khalid, said this would lessen the chil­dren’s fi­nan­cial bur­den when fur­ther­ing their stud­ies at the higher level.

With­out hav­ing to shoul­der the debt, she said, the chil­dren could utilise the money earned af­ter grad­u­at­ing from col­lege or univer­sity for other pur­poses such as pur­chas­ing a home.

Mas­tura cited an ex­am­ple where a num­ber of PTPTN bor­row­ers were un­able to get home loan ap­proval due to de­layed pay­ment of the ed­u­ca­tion loan.

From Jan­uary to June, she said, 3.7 per cent or 16,000 of the to­tal el­i­gi­ble Year One pupils reg­is­tered for the spe­cial in­cen­tives.

“One of the in­cen­tives un­der the 2017 Bud­get is the match­ing grants of up to RM50 for ac­cu­mu­lated sav­ings in SSPN-i for stu­dents in Year One in fully-as­sisted gov­ern­ment schools.

“Even with a small amount as a start, the money saved un­til they fin­ish school will be able to cover some ex­penses for them to fur­ther stud­ies to a higher level.”

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