Parents, grab this grant!
PRIME Minister Datuk Seri Najib Tun Razak had announced last October that all Year One pupils (in 2017) in national schools will be entitled to a RM50 grant if they have an SSPN-i or SSPN-i Plus account with the National Higher Education Fund Corporation (PTPTN).
It is already nearing the end of August, and more than 90% of those eligible, have yet to grab the grant, reveals PTPTN senior general manager Abdul Ghaffar Yusop.
“Sadly, many are not aware of this allocation in the 2017 Budget.”
A total of RM25mil has been set aside, and it is a waste if parents do not make use of the opportunity, which is only for this year, he reiterates.
“If you think about it, the RM50 belongs to the child and parents should grab the allocation which is a great offer.”
He points out that some parents may have not activated the SSPN-i or SSPN-i Plus, while there are others who have not as yet opened accounts for their sevenyear-olds to benefit from the grant.
“The reason for allocating the money is to encourage parents to save for their children’s tertiary education, instead of depending on PTPTN loans,” he adds.
“Higher education fees are not cheap anymore, even at public institutions of higher learning,” he shares.
He says those seeking to further their studies locally need at least RM15,000 for a diploma course while a degree programme starts at RM21,000 in a public university.
He adds that going to a private institution can cost a lot more and parents must start saving as early as possible to secure a better future for their children’s education.
Abdul Ghaffar says that to qualify for the grant, there should be at least RM50 in the child’s account and there must be an additional sum deposited into the account in 2017.
“Only then will the child be granted the RM50 grant, he says adding that those without an account need to open one and have a minimum of RM50 in it.
He reiterates that every child in Year One this year is entitled to the grant.
“For instance if there is a pair of twins in the family, each of them will get the RM50 incentive.”
“We don’t want our future generation to leave university in debt,” he says.
He stresses that PTPTN wants the savings culture to be fostered from the moment a child is born.
This way, he adds, there would be enough funds for the child to further his study, or at least enough for him to not depend on a full PTPTN loan.
To further encourage parents to open an account for their children, Abdul Ghaffar says the corporation is also giving away more than RM500,000 in cash through its “Cabutan Wow! 20 Tahun PTPTN” cash draw.
The monthly draw is only for those who open or have an active SSPN-i or SSPN-i Plus account for their Year One children.
“Every child with RM50 in the account is entitled to one draw. Depositors are only entitled to one prize,” he says, adding that those who do not win can always try again the following month.
“So long as they make a deposit the following month.”
The draw will be held every month until December.