HIGHER EDUCATION SET TO SOAR
HIGHER education in Malaysia has seen multiple triumphs even at a global level, as seen in the QS World University Rankings.
These achievements have not gone unnoticed by the Government, which has pumped in an additional 13.15% in allocations for the Higher Education Ministry under Budget 2018. This means that the amount has gone up to RM13.89bil for next year.
Such backing by the Government has spurred the ministry to keep raising the bar on the quality of higher education in Malaysia and very pleased with the 2018 “Soaring Upwards” Budget.
In a statement, the ministry which is led by Datuk Seri Idris Jusoh (pic), pledged its commitment to continuously put in the effort to ensure that higher education in Malaysia is in accordance with the 2050 National Transformation (TN50).
According to the ministry, it would always pursue excellence especially in the field of research, development and commercialisation (R,D&C) and drive Malaysia towards the Fourth Industrial Revolution, which builds on the digital era.
Allocations for R,D&C have almost doubled to RM400mil next year.
This is also expected to aid Universiti Malaya rise up the ranks of top 100 universities in the world in the near future.
And to further prepare for the digital economy, the ministry pointed out that the Futurise Centre in Cyberjaya is set to become a one-stop centre for corporate companies and universities to develop product prototypes as well as to boost innovation. Among the highlights of Budget 2018:
RM90mil for the MyBrain15 programme. This will benefit 10,600 students so that they can pursue their studies at master’s and doctorate levels.
RM2.4bil for UiTM in its efforts to increase the number of bumiputra professionals.
Institut Kajian Etnik UKM to be upgraded as a national institution. Its role would include creating a national social index.
A 7% target of Indian students’ enrolment.
RM3,000 for new orang asli undergraduates.
RM250 book voucher for Form Six and university students.
As for the National Higher Education Fund Corporation (PTPTN), Budget 2018 provides for:
RM200mil additional loans for students
from the B40 group. (B40 refers to the bottom 40% of households with monthly income RM3,900 and below).
Extension of discounts for repayment of PTPTN loans until Dec 31, 2018, as follows:
a) 20% discount on the outstanding debt for full settlement;
b) 10% for repayment of at least 50% on the outstanding debt made in a single payment;
c) 10% for repayment through salary deductions or scheduled direct debit.
Grace period for loan repayment has been extended to 12 months upon completion of study, instead of the current six-month deadline.
Individual income tax relief for net savings in Skim Prihatin Pendidikan 1Malaysia (SPP1M) of up to RM6,000 is extended for another three years to 2020, effective from year of assessment 2018.
A matching grant of RM500 will be provided to SSP1M contributors with children between the ages of seven and 12 with a total contribution of at least RM500.
The funds can only be withdrawn at the age of 18.
Enhancement of Technical and Vocational Education Training (TVET):
To support the development of skilled workers in the rail sector, a National Rail Centre of Excellence will be set up to oversee quality assurance as well as accreditation of national rail education and training.
About 3,000 professionals will be trained in collaboration with public institutions of higher learning (IPTAs).
RM40mil allocations for Skim Latihan 1Malaysia (SL1M). This will benefit 25,000 graduates.
In its statement, the ministry voiced its appreciation to the Government, saying that it would always be committed towards ensuring that the quality of higher education in Malaysia would always soar, in line with the theme of Budget 2018.