PARENTS should rethink education options for their children if they can’t afford the costs of higher education amid the current economic climate, stakeholders said.

They said parents must be aware the nature of jobs was also changing, hence the emergence of alternatives available for their children.

Going through the usual university pathway with the same traditional, but expensive, courses is no longer the only available option, they said.

Ikram Economic Prosperity Cluster and Public Policy Consultant head Mohammad Abdul Hamid said affordable higher education is certainly an issue, particularly for the low- and middle-income groups who are not getting financial aid.

He said parents are increasingly finding it difficult, given the rising cost of living.

“I think parents should be made aware about the future of jobs and the nature of work, which is very dynamic and (constantly) changing.

“A university degree is not the only way to secure a better future,” he said.

Mohammad said given the ever-changing job landscape, students who can’t afford higher education can opt for alternative careers.

The former Universiti Malaya behavioural economics lecturer said this could be done by enrolling in the various technical and vocational education and training programmes.

“For instance, some employers are already adopting alternative methods to train potential workers who are better prepared for the job market,” he said.

Mohammad also said some teenagers are not interested in pursuing higher education after Sijil Pelajaran Malaysia.

This, he said, was partly due to other opportunities that can pay better and faster.

“For example, they can work as a content creator, YouTuber, entrepreneur, gig worker and others.”

Education Ministry data revealed only half of 2021 school graduates (50.3%) were interested in pursuing a higher education, while another 30.8% were looking to immediately work after secondary school.

This was a massive decline from 2019 and 2020, which saw 65.2% and 64.8% of students continuing their studies, respectively, while only 25.9% and 24.6% opted to work immediately after graduation.

Job mismatch

Mohammad said a more pressing issue was the return on investment for education.

“This is given the mismatch of jobs and underemployment as job opportunities for high-skilled graduates are limited.

“The graduates end up having to take up jobs that do not match their qualification levels.”

When asked about the National Higher Education Fund Corporation (PTPTN) loan or other types, Mohammad said taking loans to pay for higher education was risky with the current job market.

“Getting loans may not be a good idea, especially for university degrees that are irrelevant to the job market.

“In fact, it would be a burden when graduates cannot get jobs with decent pay.”

Pertubuhan Ikram Malaysia is a civil society group of da’wah, education and welfare that is concerned with the affairs of the general public in line with the teachings and way of life of Islam.

Meanwhile, Malacca Action Group for Parents in chairman Mak Chee Kin said local universities were still the cheapest option.

“First option is the local universities, then private institutions with more affordable fees. Parents are looking for options based on the children’s interest and forte.

“Once the interest is set, then they should look into the price. As for the rest, PTPTN is their saviour.”

He said those with average results have the option to enrol into affordable polytechnic institutes.

“Only those with excellent results can save lots of money by getting scholarships. Otherwise, parents have to fork out money or take loans.

“There are lots of scholarships but only those with good results get them.”

Burden on parents

Nurul Azila, 42, a tuition teacher from Selangor, said with the current economic situation and the high cost of living, she can’t afford to send her children to university.

Nurul Azila, who has six children aged 13 to 22, said she was doing her best to educate them.

“I try to help them pay their fees and their needs to the best of my ability.

“I have to work three jobs to get the maximum income. I do business, sell products online even though I have a permanent job.”

She said local universities were cheaper for any degree courses, but the price still depends on the course chosen.

Nurul Azila also said she will help her children pursue their education by any means, including by taking loans, using her Employees’ Provident Fund (EPF) savings, and getting a PTPTN loan.

“If that’s the option available to give them the best education, then I’ll do all those things. That is, use my savings, take out loans and try for PTPTN.”

Sharifah Azlin Syed Zaki, 48, an online clothes trader from Selangor, also said she has to work more than one job to be able to afford to send her four children aged 15 to 26 to university.

Sharifah Azlin said she chose to enrol her children in public university as the fees are cheaper.

“We don’t have a choice but to cut costs. I’m using my EPF to pay for their studies, but they have to take a loan at the degree level.”

Tunku Muniwarah Putra from Kuala Lumpur said despite the high cost of living, parents will do whatever it takes to help their children pursue tertiary education.

“Parents and their children will strive to get the funding,” said Tunku Muniwarah, who has two children in university.

She said parents will look at all options such as getting scholarships, taking bank loans, EPF or tap into savings.

She also said local universities were more suitable for those looking to save money. – May 23, 2023.