Increase quantum of PTPTN loans

younger son is currently sitting for the SPM examinations. In a few months, the results will be out and, if all goes well, he will probably be looking for a tertiary institution to pursue his studies.

This moment is emotionally mixed for many parents, considering my experience with my elder son, who is now doing his first-year degree programme at a private university.

While we are proud that our children have completed formal education and progressing to tertiary level studies, many are also contemplating how to secure finances to support their education, especially those of us in the B40 and M40 categories.

Tertiary education, especially privately funded ones, is not cheap. A one-year foundation course can cost over RM30,000, and the cost can go up further for diploma or degree programmes.

While publicly funded institutions are an option, their availability is often limited. As a result, many parents like myself are forced to send our children to private colleges or universities.

Like many others, my elder son took a PTPTN loan, for which we are immensely grateful to the government. Without it, we would have struggled to afford his education at Segi University in Kota Damansara.

Many parents, including myself, had to dip deep into our savings during the pandemic, and we have barely gotten back on our feet. It does not help that the economy is not as robust as before, with prices of essentials and utilities rising.

Even the PTPTN loan for my elder son is not enough to cover his expenses. Fortunately, he was able to secure a bridging loan facility from the university to make up for the shortfall. Without this support, we would likely have had to rely on financial assistance from our relatives.

I consider my elder son fortunate to have received financial support from the university as not many private tertiary institutions provide such assistance. This is why I am worried about the finances for my younger son when he commences tertiary education, probably in August or September.

I hope the government will consider increasing the quantum of the PTPTN loan to help students cover their basic needs. Otherwise, they would be distracted from their studies, having to live on a shoestring budget or even possibly working part-time to ease the burden of their parents.

The cost of living has increased and the government needs to take into consideration prevailing circumstances when approving PTPTN loans.