28 students benefit from MCA foundation
They get interest-free loans worth RM481,000
KUALA LUMPUR: MCA has given out RM481,000 worth of interest-free education loans to 28 students of higher learning institutions through its Chang Ming Thien Foundation.
Its deputy president Datuk Seri Dr Wee Ka Siong said 26 were pursuing their degrees while two others were postgraduate students.
“We have always emphasised that education is a universal right and not a single eligible student should be ignored. We are committed to helping all aspiring and qualified students to achieve their aspirations,” he said in his speech before giving out the loans here yesterday.
Dr Wee added that out of the 28 recipients, 17 were enrolled in local institutions while 11 were overseas.
He also urged more students to apply for loans from the foundation to pursue postgraduate courses to fulfil the needs of a knowledge economy.
The Chang Ming Thien Foundation, he said, was an education fund which transcended racial, political and religious barriers, adding that eligible applicants would receive financial assistance, subject to availability.
Since the foundation was launched in 2004, it has so far approved 2,044 applications and the total interest-free loans disbursed amounted to RM31.72mil.
“To date, 1,463 loan recipients have completed their studies and begun repaying their loans. Their prompt payment will enable the foundation to help more needy students.
“Apart from providing financial assistance for higher education, the foundation has also approved 94 loans worth RM1.05mil to students of the Institute of Childhood Education Studies and Community Education (CECE) to nurture more talent for the nation,” he said.
Dr Wee said it also approved 37 loan applications worth RM4.22mil for students of VTAR Institute, a vocational training school.