THE Education Ministry will receive the largest funding allocation for next year at RM60.2 billion, or 19.1% of the entire budget.

Out of the total allocation, RM2.9 billion will go to providing aid for students from lower-income families in the form of food supplies, text books and cash aids.

A total of RM652 million will go into upgrading schools next year, a slight increase from the RM615 million allocated for 2018.

The government will also spend RM100 million to rebuild dilapidated schools nationwide.

Public universities will receive RM400 million to enhance research activities, while RM3.8 billion will be allocated for the awarding of scholarships and student loans. Out of that amount, RM2 billion will be reserved for Bumiputera students under MARA scholarships.

For student loan repayments, PTPTN loan holders will have to repay via scheduled pay cuts between 2% and 15% from the borrowers’ monthly income. The scheduled repayments only apply to those earning more than RM1,000 a month.

To encourage the private sector to support the repayment of student loans, tax exemptions will be given to companies that help its employees pay off the remaining debt for 2019.

Putrajaya will also increase individual income tax rebates for the Skim Simpanan Pendidikan Nasional (SSPN) savings fund from RM6,000 to RM8,000.

The government also announced that it would write off PTPTN loans for students from B40 families who graduate with first-class honours, as well as for borrowers aged 60 and above with monthly salaries of less than RM4,000.

This ruling will benefit 350 borrowers with a total outstanding debt of RM4.2 million. – November 2, 2018.