ABOUT 180,000 students receive financial assistance from the National Higher Education Fund Corporation (PTPTN) every year.

PTPTN chief executive Ahmad Dasuki Abdul Majid said the financial support provides students with the opportunity to achieve their ambitions and raise their living standards.

“Almost 50% of the nearly 350,000 students accepted into institutions of higher learning each year get a PTPTN loan. Only about 27,000 borrowers were sponsored when PTPTN was first established,” Dasuki said on Bernama Radio.

“After 27 years, PTPTN has ensured that that no student drops out because of financial problems,” he said.

The Wang Pendahuluan Pinjaman, or loan advance payment, of RM1,000 was introduced in 1999 and the sum has now been increased to RM1,500 to for new students of public institutes of higher learning and polytechnics.

He said the PTPTN is not only a lender and debt collector but an education fund for Malaysians.

In 2004, PTPTN launched its first product under the National Education Savings Scheme, now known as Simpan SSPN Prime, and in 2015, Simpan SSPN-i Plus was introduced.

Simpan SSPN Prime offers free matching grants of up to RM10,000 for families whose monthly income does not exceed RM4,000.

“The perception of PTPTN as a savings fund has increased over the last two to three years through active promotion and outreach, including field trips to schools,” Dasuki said.

“Matching grants are financial incentives offered to children who are accepted and enrolled in any IPT recognised by the government.”

He added that PTPTN helps the community make financial plans for their children’s education from an early age to produce debt-free graduates through Simpan SSPN.

“With the savings instrument by PTPTN, we can overcome the problem of students dropping out because of financial problems.” – July 2, 2024.