More sav­ing up for ed­u­ca­tion un­der SSPN

New Straits Times - - News -

MORE Malaysians are tak­ing to the idea of sav­ing up for ed­u­ca­tion through the Na­tional Ed­u­ca­tion Sav­ings Scheme (SSPN).

Higher Ed­u­ca­tion Min­is­ter Datuk Seri Idris Ju­soh said that un­til July, more than three mil­lion Malaysians had opened ac­counts with SSPN, with to­tal de­posits reach­ing RM2.846 bil­lion.

He said the SSPN would help peo­ple re­duce their de­pen­dence on loans.

“SSPN is unique as the div­i­dend of­fered is more com­pet­i­tive com­pared with con­ven­tional fi­nan­cial in­sti­tu­tions.

“De­pos­i­tors also get to en­joy RM6,000 tax re­lief, taka­ful pro­tec­tion and lu­cra­tive lucky draws, not to men­tion their de­posits are guar­an­teed by the gov­ern­ment,” he said.

Idris added that the Na­tional Higher Ed­u­ca­tion Fund Cor­po­ra­tion (PTPTN) had im­proved its sys­tem for diploma stu­dents who take a sec­ond loan for fur­ther stud­ies.

Their loans will be merged to avoid prob­lems with fi­nan­cial in­sti­tu­tions, as PTPTN bor­row­ers would be listed un­der the Cen­tral Credit Ref­er­ence In­for­ma­tion Sys­tem (CCRIS) when it comes time for them to be­gin re­pay­ments.

Bor­row­ers need to ser­vice their PTPTN loans six months af­ter grad­u­a­tion.

Idris said this in re­ply to a ques­tion by Datuk Dr Noor Azmi Ghaz­ali (BN-Ba­gan Serai) dur­ing the Min­is­ter’s Ques­tion Time at De­wan Rakyat yes­ter­day.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.