Archive for the ‘Scholarships and Loans’ Category

More borrowers repay PTPTN loans

Tuesday, December 31st, 2019

PETALING JAYA: The National Higher Education Fund Corp (PTPTN) recorded an increase in loan repayment this year.

Repayment by borrowers jumped to 82.5% as at Dec 30, up from 81.3% last year.

PTPTN chairman Wan Saiful Wan Jan said it had set a target of collecting a repayment of RM2bil for 2019 but as at Nov 30, RM2.07bil had been successfully collected.

He revealed that of the 172,863 students who enrolled in higher education institutions through PTPTN loans as at Nov 30,46% of them were from the B40 income group.

“As for the implementation of the government’s manifesto, PTPTN has executed 75% or three out of four related items, ” he said in a statement yesterday.

He added that those included giving a discount or eliminating the debt wholly for excellent students and students from low-income families; giving tax incentives to employers who help repay their employees’ debts without deducting their salaries; and eliminating the blacklist policy on borrowers.

“The promised delay in repayment for PTPTN borrowers who earn less than RM4,000 a month is still not implemented, ” he said, “as it involves matters outside PTPTN’s jurisdiction.”

“In addition, it has huge implications on the country’s finances.

“PTPTN has taken appropriate action which includes holding negotiations with stakeholders, ” he said.

Separately, Wan Saiful said the National Education Savings Scheme (SSPN) gained RM151.5mil in the third quarter of this year in cumulative investment returns.

“The performance showed a 25.9% increase from the RM120.33mil for the same period in 2018.

“PTPTN expects the fourth quarter of cumulative investment profits to continue to perform excellently.

“The deposited amount for SSPN accounts as at Nov 30 is RM798mil compared to RM671.97mil in the same period last year.

“This figure represents an increase of 18.76%, bringing SSPN’s overall deposit amount to RM5.3bil, ” he said.

A total of 4.32 million SSPN accounts had been opened since its launch in 2004, Wan Saiful said.

Wan Saiful also noted the recognition accorded to the corporation throughout the year, commending his officers for carrying out their duties well.

Read more @ https://www.thestar.com.my/news/nation/2019/12/31/more-borrowers-repay-ptptn-loans

Save for education via SSPN

Monday, December 23rd, 2019

The SSPN-i and SSPN-i Plus savings schemes with PTPTN offer tax relief.

DID you know that there is an educational savings scheme that not only offers various benefits and dividend, but also tax relief for parents to enjoy?

The syariah-compliant National Education Savings Scheme (SSPN) was introduced by the National Higher Education Fund Corporation (PTPTN) for higher education.

Deputy Chief Executive (Policy & Operation), PTPTN, Mastura Mohd Khalid said that privileges included a maximum tax relief up to RM8,000 for savings in the SSPN-i and SSPN-i Plus.

“SSPN-i and SSPN-i Plus are the best educational savings plans offering tax relief for parents as depositors.

“There are many parents who have been saving for their children for several years and have been enjoying the tax relief over the years.

“Therefore, for parents who want to enjoy the tax relief this year, they have to make savings before Dec 31,” she said.

The tax relief for SSPN-i and SSPN-i Plus are calculated based on the current year’s net savings amount and those eligible for tax relief include:

1. Parents and adopted parents/legal guardians who have been saving in the SSPN accounts for the benefit of their children are given tax relief up to RM8,000 a year, depending on the current year net savings amount.

2. Parents who have separate tax assessment and have opened SSPN savings accounts separately for the same child, are given a maximum tax relief up to RM8,000 each for that year.

3. Parents who have joint tax assessment and have opened SSPN savings accounts separately are given a maximum tax relief up to RM8,000 a year.

Mastura explained, however, that individuals who have been saving for their own selves would not get tax relief.

She said that the rationale of tax relief privileges is to encourage more parents to continuously opt for educational-purpose savings on a yearly basis.

‘I appeal to parents who may have missed out on this tax relief privilege in the previous years, to start saving in SSPN,’ said Mastura.

‘I appeal to parents who may have missed out on this tax relief privilege in the previous years, to start saving in SSPN,’ said Mastura.
Apart from tax relief, parents who opt for SSPN educational savings would get competitive dividend as well as comprehensive takaful protection.

“If there is death or permanent disability, their children or beneficiaries will get takaful benefit under SSPN-i and up to RM1mil under SSPN-i Plus, subject to terms and conditions.

“This proves that this savings scheme ensures that their children can study using the savings even if anything happens to their parents in the future,” she said.

Since the launch of SSPN in 2004, 4.29 million accounts have been opened for both SSPN-i and SSPN-i Plus savings accounts, with total deposits worth RM5.17bil up to Oct 31, 2019, said Mastura.

The tax relief on SSPN savings was instituted since the 2007 assessment year, amounting to RM3,000 per year for depositors.

According to Mastura, the tax relief amount was increased to RM6,000 in 2013, and was raised to RM8,000 a year via Budget 2019.

PTPTN is targetting RM1bil in total savings with 500,000 new account holders this year.

“We also give out cash prizes in draws for SSPN-i and SSPN-i Plus depositors,” she added.

Currently, PTPTN is offering prizes in two categories – Cabutan WOW! for SSPN-i Plus depositors and Cabutan 15 Tahun for loyal SSPN-i depositors, with prizes worth a total RM1.1mil.

“I appeal to parents who may have missed out on this tax relief privilege in the previous years, to start saving in SSPN or to increase their deposits before Dec 31 in order to be eligible for tax relief in 2019.

“Parents can open account or top up deposits via online at www.lovesspn.com. So don’t wait – save, save, save for the future,” Mastura said.

SSPN incentives for parents

Saturday, November 30th, 2019

Start early: PTPTN is encouraging parents to start saving for their children’s education ahead of time, to reduce dependence on its loans.

TO encourage parents to increase savings for their children’s future education, the National Higher Education Fund Corporation (PTPTN) is offering parents up to RM8,000 in tax relief privileges under the National Education Savings Scheme (SSPN).

The tax benefit, which covers the SSPN-i and SSPN-i Plus savings scheme, has been increased to RM8,000 from the previous RM6,000.

This was announced by Finance Minister Lim Guan Eng last year during the announcement of Budget 2019.

As such, parents who opt for savings under SSPN-i Plus are eligible to receive tax relief for deposits up to RM11,000 (RM8,000 for the net savings under the SSPN-i Plus and RM3,000 in takaful contribution).

Depositors who choose the pension scheme, on the other hand, are qualified to enjoy tax relief up to RM15,000 (RM8,000 for net savings under SSPN-i Plus and RM7,000 in takaful contribution).

The objective of offering such privileges to depositors is to improve educational savings for their children among parents, thus reducing dependency on PTPTN loans.There are two categories of qualifications, including a separate assessment that gives a maximum tax relief of RM8,000 a year for both husband and wife, as well as a joint assessment that offers a maximum tax relief of RM8,000 per couple.

Depositors can be natural or adoptive parents or legal guardians who can open the accounts for the benefit of their children.

If the depositor (husband or wife) decides to submit separate tax assessments, they can open a separate account for the same child to be able to enjoy a maximum tax relief up to RM8,000 per person.

Besides that, parents can also get an additional benefit via a competitive dividend given for each year, which is considered a profitable rate.

The eligibility condition for tax relief for SSPN is calculated based on the net savings amount for the current year, with PTPTN encouraging depositors to start their savings from January to December to ensure they keep up consistent savings, without it becoming a burden.

SSPN 2019 draw

With these initiatives, the goal is to acknowledge and reward the sacrifices made by parents as depositors committed in starting a savings plan for the future education of their children.

Unlike in previous years, PTPTN will be providing two categories of prizes this year, including Cabutan WOW! SSPN-i Plus and Cabutan 15 Tahun SSPN-i.

This year, in conjunction with the 15th anniversary of SSPN-i, PTPTN has introduced Cabutan 15 Tahun to commemorate the occasion.The last time it has offered prizes to SSPN-i depositors was in 2015.

Both prize draws offer two categories, namely series draw (promotional period in three series from July to December 2019) and an annual draw, with the promotional period running from January to December 2019.

The series draw will see five depositors winning RM15,151.15 each for each promotional period, while 15 depositors will each walk away with RM3,000 under Cabutan WOW! SSPN-i Plus.

The grand prize for Cabutan 15 Tahun SSPN-i annual draw is RM151,515.15 cash, while for cabutan WOW! is Proton X70 Premium.

PTPTN has allocated RM1.1mil to reward 1,726 depositors in its prize draws.

Read more @ https://www.thestar.com.my/news/education/2019/11/24/sspn-incentives-for-parents

RM52m for study awards, aid

Saturday, November 23rd, 2019

KOTA KINABALU: The State Education and Innovation Ministry has allocated RM52 million for scholarships and financial aid next year.

Its Minister Datuk Dr Yusof Yacob said he hoped with the granting of the scholarships and aid, more intellectuals will be born and more people are skilled in the State.

In his winding-up speech on the proposed 2020 State Budget at the State Legislative Assembly Wednesday, he said the scholarships and financial aid target 400 undergraduate diploma holders, 1,000 undergraduates, 20 undergraduate students at overseas universities and 400 B40 recipients.

“The Ministry’s focus next year, among others, is to sponsor outstanding students from SPM 7A and above and STPM CGPA 4.0 for local and overseas Public Higher Education Institutions (IPTAs) and Private Higher Learning Institutions (IPTSs).

“Those eligible will be placed in the ‘top 20 universities’ in the world,” he said.

In addition, plans are also in the pipeline to sponsor students according to industry requirements so that there will be no excess of graduates.

“Focus will be on skills and TVETs based on the industry needs. School dropouts, especially in the B40 and hardcore poor, will also be focused for sponsorship,” he said.

The Ministry will also be allocating RM19,506,930 to the Department of Human Resource Development (JPSM) for management and RM1,563,000 for development programmes next year.

“The Department will continue 15 programmes at ILTP in Papar, in addition to holding at least 14 long-medium courses, 60 short courses, three Hospitality Engagement programmes, nine Career and Carnival Hiking sessions, 10 Youth Mind Transformation Camp programmes and sending the trainees to further their studies at the University of Kuala Lumpur,” said Dr Yusof.

He said to provide the State with the latest skills and technology in industry 4.0, Sabah Skill Training Centre will run two programmes – the Bosch Mechatronics Training System and Mechanical Joint Integrity – next year.

In addition, corporate training will also be introduced by SSTC for industry 4.0 programmes in collaboration with Penang Skills Development Centre.

For the purpose of boosting human capital for the education sector, the Ministry plans to hold several career awareness programme sessions for 2020.

The target audience is Form 5 and Form 6 students. Emphasis is on the oil and gas industry sector.

Three sessions of awareness programmes for parents are also planned for next year.

Dr Yusof said based on some B40 student outreach sessions, it was found that the students did not pursue higher education because parents don’t allow their children to leave their hometown.

In addition, the Ministry also intends to collaborate with the Sabah State Education Department to set up a series of programmes to improve student performance in primary and secondary schools through lectures and career concerns.

To ensure lifelong learning initiatives, a “cream of cream” programme will be held next year.

Dr Yusof said the programme is aimed at students who have earned 7A or higher in the results of the Malaysian Certificate of Examination.

He said these students will be gathered and given exposure on appropriate courses.

In addition, scholarship fund providers or educational loans from various agencies will be invited to identify and then offered to students who wish to be sponsored.

The State Government has expressed its stance on the issue of recognising the Unified Examination Certificate (UEC) for admission to IPTAs and appointments to the Sabah State Public Service subject to the conditions stipulated.

This, Dr Yusof said, is in line with the ambitions of the new government manifesto.

To ensure that educational development in Sabah is more systematic and fair in its proper course, a Ministerial Education and Innovation Advisory Panel has been established.

He said this panel is important to advise the Minister of Education and Innovation for programmes and initiatives to improve education in the state.

By: Sherell Jeffrey

Read more @ http://www.dailyexpress.com.my/news/143726/rm52m-for-study-awards-aid/

Education Ministry: 376k PTPTN borrowers have yet to make a single repayment.

Thursday, October 31st, 2019
KUALA LUMPUR: Some 375,925 borrowers of the National Higher Education Fund Corporation (PTPTN) have never made a single repayment to the body, says the Education Ministry.

Its deputy minister Teo Nie Ching said the government had yet to decide whether to reintroduce the travel ban previously imposed on loan defaulters to boost repayment.

“A travel ban was one of the proposals given during the public consultation on (PTPTN’s) new mechanism.

“However, it has yet to be finalised by the Cabinet, whether to reintroduce the travel ban,” she said.

This was in reply to supplementary questions by Datuk Mas Ermieyati Samsudin (PH-Masjid Tanah), who asked about the possibility of reintroducing travel bans on loan defaulters, and to Siti Zailah Mohd Yusoff (PAS-Rantau Panjang) on the number of those who had yet to make any repayment.

Teo said PTPTN spent an average of between RM3.7bil to RM4.3bil each year to provide loans to some 180,000 new borrowers and 420,000 existing ones.

“As of Sept, this year, PTPTN has approved RM72.1bil worth of loans to 3.14 million borrowers, of which, RM36.5bil was allocated for students in the public higher education institutes and RM35.5bil for those in the private higher learning bodies.

“From the total, RM57.7bil has been dispersed to borrowers,” she said.

By MARTIN CARVALHORAHIMY RAHIM and FATIMAH ZAINAL
Read more @
https://www.thestar.com.my/news/nation/2019/10/31/education-ministry-376k-ptptn-borrowers-have-yet-to-make-a-single-repayment#gdVgq3rm6XTGcdd8.99

Saving for a better future

Sunday, October 20th, 2019

Mastura, pictured holding up PTPTN’s red money savings container, said that PTPTN will be organising two to three outreach programmes in stages. – NORAFIFI EHSAN/The Star

THE National Higher Education Fund Corporation (PTPTN) is encouraging more state governments and businesses to give the National Education Savings Scheme (SSPN) to newborns, in order to encourage new parents to invest in their children’s future tertiary education.

Since 2010, only four state governments and a handful of private companies have stepped forward to give monetary contributions to the education savings plans of newly born babies.

The states, including Kedah, Perak, Terengganu and Melaka, have been giving out sums between RM20 and RM500 for every newborn, according to PTPTN (policy and operation) deputy chief executive Mastura Mohd Khalid.

“I call on more state governments and corporations to join in to encourage new parents to start early savings for their children’s future studies at higher learning institutions. It is also something achievable and a good investment for the benefit of the younger generation and nation-building, ” she told StarEdu in an interview.

The gift, she added, could also be implemented as part of the corporate social responsibility (CSR) initiative by the organisations.

Moreover, as children tend to learn by example, encouraging healthy saving habits among parents can also help inculcate financial literacy and planning skills in the next generation, especially if learnt during their formative years.

The SSPN could also be the best plan to avoid dependency on a loan for higher education, Mastura advised.

There are currently 10mil potential Malaysian depositors aged between a day to 19 years, meaning that parents are able to apply for the savings scheme on their behalf.

Reaching the grassroots

On this note, PTPTN recently conducted its Jelajah SSPN programme nationwide to promote the opening of new SSPN accounts, especially among the underprivileged in the remote areas.

She shared that it was not easy for PTPTN to create awareness on the scheme in Sabah and Sarawak due to the lack of communication facility including Internet access in certain areas.

The Jelajah SSPN programme registered 11,033 new accounts and deposits amounting to RM1,786,445 during the August to September period.

Mastura said, “As at Aug 31, this year, 315,976 new accounts and deposits amounting to RM530.5mil have been collected.

“We target to get 500,000 new account holders and deposits collection of RM1bil this year. We are positive of achieving our target.”

Moreover, response from underprivileged groups has been encouraging, as a large number were previously unaware of the available SSPN packages for their children’s education.

“We opened accounts worth RM100 each for their benefit during this period, ” she said, adding that more than RM800,000 was spent for the savings of new depositors as part of their CSR initiative.

The programme has proven worthwhile as it has been an ‘eye opener’ for many in the underprivileged communities to understand the importance of such savings for their children’s education and future, she pointed out.

Focusing on impactWhile results have been positive thus far, PTPTN will be further intensifying its efforts to get closer to their target audience and create more awareness on the advantages of early SSPN savings.

Mastura revealed that PTPTN is be organising two to three programmes in stages. This is in addition to continuing its participation in various activities at schools and shopping malls, as well as partnering other parties in carnivals to attract younger parents to opt for SSPN.

Earlier this month, it held a three-day Minggu Menabung SSPN 2019 at Aeon Mall in Shah Alam from Oct 4 to 6.

She said, “For instance, we meet the parents at the shopping malls during the weekends when they go out to buy groceries and watch movies and attract them to choose SSPN, ” she said.

PTPTN also organises various contests such as drawing, colouring and puzzle solving activities, mini musicals and talent competitions, alongside introducing special appearances from popular children’s cartoon characters such as Didi and Friends to attract children and convince more parents to be depositors and invest for the future.

“For instance, to participate in the puzzle solving activities, they have to save at least RM20 and they can do regular additional deposits later, ” she added.

Under the SSPN-i scheme, the depositor has to save a minimum of RM20, while SSPN-i Plus provides six savings packages ranging from RM30 to RM500 per month. In return, depositors enjoy benefits including tax relief, takaful protection.

In urging more people to save with SSPN, Mastura noted that they could win attractive cash prizes during the second series of two prize draws, namely Cabutan 15 Tahun SSPN-i and Cabutan Wow! SSPN-i Plus.

She explained, “We introduced these prize draws to be competitive and to be at par with other financial institutions in attracting new depositors.”

PTPTN has allocated RM1.1mil to reward 1,726 depositors in its prize draws. The second series, which is for savings deposited during the promotional period between September and October this year, will see five depositors winning RM15,151.15 each for the Cabutan 15 Tahun SSPN-i and 15 depositors winning RM3,000 each under the Cabutan Wow! SSPN-i Plus.

From 2004 until end-August 2019, PTPTN registered 4.2 mil SSPN accounts with RM5bil total deposits.By M.MAGESWARI

By M.MAGESWARI.

Read more @ https://www.thestar.com.my/news/education/2019/10/20/saving-for-a-better-future

Start saving from an early age

Sunday, October 13th, 2019

(Second and third left) Mastura, Wan Saiful, PTPTN management board member Tan Sri Sulaiman Mahbob (fourth right) together with the winners of the lucky draws Azizah Zakaria (left), Aisyah Hasyila (centre), Hasimazatul Azwita Hasim (third right) and Kartini (right) at the launch of the national level SSPN Saving Week 2019. RAJA FAISAL HISHAN/The Star

THERE is a free matching grant of up to RM10,000 for those in the B40 group to help them save for their tertiary education.

The catch is, they need to have a National Education Savings Scheme (SSPN) account.

National Higher Education Fund Corporation (PTPTN) chairman Wan Saiful Wan Jan says: “The Government had allocated RM1bil in the form of a matching grant as a special incentive for them (B40) to save for the purpose of securing their children’s higher education.”

This matching grant was originally announced by Prime Minister Tun Dr Mahathir Mohamad in Budget 2003 during his first tenure as prime minister, he says during the launch of the National Savings Week 2019 last week.

He says PTPTN is reviving the incentive because it will greatly help and benefit those from the low-income bracket.

“This is also one of the Government’s efforts to ensure that this group is prepared to bear the costs of higher education, ” he says.

This, he adds, is in line with the prime minister’s vision of shared prosperity and that those who do not earn much should not be forgotten.

“People often think that saving is only for those who “have”

the money or ask how to save if their income is small, ” Wan Saiful says.

This is why he believes the B40 group should grab this chance and open an SSPN-i account to enjoy the matching grant.

The grant will be given to those with a monthly income below RM4,000, there has been consistent deposits into the account for at least 10 years and the student must have been accepted into a higher learning institution.

Wan Saiful says deposits can be as low as RM20 a month.

The SSPN, a savings plan to encourage parents to save for their children’s higher education, was created by PTPTN in 2004.

“We must erase the view from the minds of the public because PTPTN no longer wants to be seen solely as a lending entity.

“Instead, it should be seen as an entity that provides a scheme for saving for higher education, ” says PTPTN deputy chief executive (policy and operations) Mastura Mohd Khalid.

She says that there is a report showing that 75% of Malaysians do not even have RM1,000 kept aside in case of an emergency.

She adds that she is aware that the current economic situation is proving to be a hurdle to encourage people to save for the future.

So, she says that increasing awareness among parents on the importance of saving and financial planning by making specific investments for higher education has to happen.

This is where the SSPN product can help because it can encourage the rakyat to make specific investments for higher education, she adds.

This year, Mastura says, PTPTN aims to have around 500,000 new SSPN accounts opened with a total savings of around RM1bil.

As of Aug 31 this year, around 4.2 million SSPN accounts have been opened with deposits amounting to RM5.1bil.

Aside from free takaful coverage, SSPN-i savings scheme entitles depositors to tax exemption of up to RM8,000 per annum and competitive dividends.

The SSPN-i Plus is an improvised version of the SSPN-i, a government-guaranteed savings scheme which provides affordable and comprehensive takaful coverage to depositors from as low as RM30 per month and with more benefits added.

Through SSPN-i Plus, depositors are eligible to enjoy a tax exemption of up to RM15,000 per annum (RM8,000 in SSPN-i and RM7,000 in takaful contribution) for civil servants under the pension scheme, takaful protection of up to RM1mil in the case of death or permanent disability, funeral expenses, attractive dividend, and eligibility for PTPTN loan for tertiary education, but not including the matching grant incentive scheme that SSPN-i depositors will enjoy.

In conjunction with SSPN-i’s 15th anniversary, PTPTN is holding three draws for 15 lucky winners.

There will be five winners for three draws and each will walk away with RM15,151,15.

The first winner has already been chosen and the money

went to Aisyah Hasyila Jahidin, 43.

The lecturer from Universiti Teknologi Mara (UiTM) Faculty of Pharmacy, says she thought it was a scam when she got the call informing her that she had won.

“I was not expecting this at all and immediately checked PTPTN’s website, ” she says, adding that she only realised it was real once she saw the website.

Aisyah Hasyila says she opened the savings accounts for her three children so that they would not have to struggle later when it comes time for them to pursue their tertiary studies.

She adds that she has opened both SSPN-i and SSPN-i Plus for her two boys and one girl.

“I feel it is important for us to save for our children’s future, ” she says, adding that she deposits RM100 into each account every month.

“These plans are a really good choice to save money for the future, ” says Aisyah Hasyila.

Kartini Jasni, 32, can thank her lucky stars because she had begun saving in the SSPN-i Plus account for only three months.

Yet, she was one of the winners of the WOW! SSPN-i Plus Draw.

The veterinary doctor says she found out about the savings plan from PTPTN through social media.

“I was drawn to the takaful coverage that they offer when I save in the SSPN-i Plus account, ” she adds.

The mother of one says she didn’t expect to win RM3,000 in the draw.

On another matter, Mastura says the National Savings Week was held in conjunction with World Savings Day that is happening on Oct 31.

Locally, the three-day programme was held consecutively in 13 locations across Malaysia.

By REBECCA RAJAENDRAM
Read more @
https://www.thestar.com.my/news/education/2019/10/13/start-saving-from-an-early-age#435FuvxCMApR4hMa.99

Employers who pay back their workers’ PTPTN loans get tax exemption this year.

Wednesday, August 28th, 2019

Now, employers can pay back as part of their initiative, ’ said Abdul Ghaffar.

EMPLOYERS who help to pay back their workers’ outstanding loans from the National Higher Education Fund Corporation (PTPTN) will enjoy a tax exemption this year.

This tax benefit was announced by the Government last November under Budget 2019.

“We want to reach out to employers from the private sectors such as banking, telecommunications and multimedia to help by paying their employees’ PTPTN loans as part of their corporate social responsibility.

“It will be a win-win situation for both parties. PTPTN offered loans to students to produce the best human capital for the job market.

“Now, employers can pay back as part of their initiative, ” said PTPTN public relations and event management senior general manager Abdul Ghaffar Yusop at Menara PTPTN in Kuala Lumpur.

“We also want to turn their (employers’) heart and mind towards their staff’s well-being. They have to consider their employees as valuable assets who can contribute to the development of their industries, ” he added.

Abdul Ghaffar said workers whose loans have been paid up by their employer would be more productive, motivated and loyal to their company.

Employers can settle the loan in full or pay in monthly installments, till Dec 31 this year. They are prohibited from placing their workers on an employment bond as a condition for paying off their loan.

Employers also cannot make deductions from employees’ wages in relation to the company settling their PTPTN loans. Errant employers can face action from the Inland Revenue Board.

Abdul Ghaffar clarified that if the PTPTN borrower is self-employed or runs his own business, he will not be eligible for this tax exemption.

“He is also not eligible if he pays up the loans of employees who happen to be his siblings, spouse, children or grandchildren. This is to avoid manipulation, ” he said.

There is no minimum or maximum amount of loan payment for employers to enjoy the tax exemption. “If the employer pays up a RM50,000 loan, he is qualified for a RM50,000 tax exemption, ” he said.

Abdul Ghaffar said employers could offer PTPTN loan repayment as incentives to their staff.

“Some employers provide annual bonus or holiday packages to show their appreciation for their employees.

“Now they can offer to pay their employees’ PTPTN loans and enjoy the tax exemption.”

Hii settled PTPTN loans for two of his project engineers.Hii settled PTPTN loans for two of his project engineers.

He urged corporate bodies, multinational corporations and government-linked companies to help employees pay back their staff’s PTPTN loan.

Vector Infotech Sdn Bhd managing director Hii Ding Sin, who supports the employer loan repayment plan, said his network solutions-based company has helped its two project engineers with their PTPTN loans.

“We paid about RM37,000 in full (loan) settlement for a project engineer in June this year. As for the other project engineer, we paid for him more than RM26,000 in August. This is incentive for them to increase productivity while working with us, ” he said.

Hii shared that the management would be paying for more employees’ PTPTN loans in monthly instalments, as part of the company’s commitment to help society and enable more people to pursue education.

“I came from a poor family, and it is important to support PTPTN’s contributions to help produce more competent workers from university level, ” Hii added.

By M. MAGESWARI
Read more @
https://www.thestar.com.my/news/education/2019/08/25/employers-who-pay-back-their-workers-ptptn-loans-get-tax-exemption-this-year#hr42chVy3bUgEKyq.99

DPM: Unwise to impose travel ban on PTPTN defaulters.

Monday, May 20th, 2019

KUALA LUMPUR (Bernama): Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail says restricting overseas travel against borrowers who fail to repay loans from the National Higher Education Fund Corporation (PTPTN) is not appropriate and should be reviewed.

She said the government had yet to make any decision on the matter and the proposed restriction should be reviewed.

“We haven’t made any decision. When did we discuss it? PTPTN has provided space and opportunities for the students to pursue higher studies but there are a handful who did not service their PTPTN study loans (after completing their studies).

“So rolling money is tough for PTPTN but to impose travel restrictions is not a wise thing to do. It needs to be reviewed,” she said.

PTPTN chairman Wan Saiful Wan Jan was reported earlier to have said that re-imposing the travel ban on errant borrowers was among the ideas received during PTPTN’s ongoing public engagement sessions.

Meanwhile, in JERLUN, Wan Saiful urged the public to channel feedback to PTPTN via the right channel, the Kertas Konsultasi Rakyat (KKR) which is provided on its official website.

Speaking to reporters after a PTPTN Ramadan programme, he said PTPTN could only act on feedback provided via that platform and not from social media.

Bernama

Read more @ https://www.thestar.com.my/news/nation/2019/05/20/dpm-unwise-to-impose-travel-ban-on-ptptn-defaulters/#Ehpi3h2PIdfWq80e.99

RM50 million State Govt scholarship open for application

Tuesday, March 26th, 2019

Yusof (centre) announces details of the State Government scholarship while Jenifer (right) and others look on.

KOTA KINABALU: Application for State Government scholarship is open today (March 26) for eligible students from Sabah and Labuan.

Minister of Education and Innovation Datuk Dr Yusof B. Yacob said the State Government has allocated about RM50 million to fund existing scholarship recipients and new applicants.

He said the State Government would be offering scholarship for 12 diploma courses and 34 undergraduate degree courses in public higher learning institutions (IPTA) and private higher learning institutions (IPTS).

“Students can apply for courses they desire but my advice is to pursue the courses listed by the State Government because these are the courses that meet the industry demand,” he said at a press conference here yesterday.

Dr Yusof said students could apply for the scholarship online at www.biasiswa.sabah.gov.my before the deadline on April 25, 2019. Students could also check the status of their application online.

The diploma courses listed include actuarial science, surveying, engineering, health and livestock farming, property management, accounting, agriculture, pure science, architecture and information technology.

Diploma scholarship applicants must pass the Sijil Pelajaran Malaysia (SPM) with at least 7As.

Meanwhile, the undergraduate or first degree courses that are offered scholarship include actuarial science, aquaculture, economy, pharmacy, engineering, entrepreneurship, communication, surveying, accounting, dentistry, forestry, fishery, agriculture, medicine, veterinary, psychology, environmental science, music, tourism and hospitality, education, Islamic studies, marine biological science, biotechnology, computer science, among others.

Scholarship applicants for first degree courses must pass Sijil Tinggi Persekolahan Malaysia (STPM) with at least a Cumulative Grade Point Average (CGPA) of 3.33; diploma with CGPA 3.50; obtain at least Jayyid in Sijil Tinggi Agama Malaysia (STAM) or pass matriculation or foundation programmes with CGPA 3.50.

Applicants for medicine, dentistry and pharmacy courses must obtain at least a CGPA of 3.8 for STPM, diploma or matriculation.

The age limit for diploma and undergraduate degree scholarship is not more than 20 and 25 years old respectively.

Dr Yusof said there was no fixed quota for the scholarship but the State Government would seek to sponsor students who have scored outstanding results in SPM and STPM.

“Based on our records, there are 148 students who scored 10As in SPM and 61 students who obtained 4As in STPM in Sabah.”

He said students who have obtained an offer letter from university could apply for the scholarship as well.

“For those who have not, we can assist them in enrolling into higher learning institutions.

“This is to prevent students from getting into unaccredited institutions, or select courses that are irrelevant to industry demand.”

He said there have been mistakes made in the past where students who were sponsored attended universities that were not even recognized, or pursued courses that were not relevant to industry needs.

As such, he advised students to change their mindset and opt for courses recommended that would meet needs of the industry, thereby help to develop the State.

In addition, Dr Yusof said the State Government has set aside 250 slots for poor students, or about 10 students from each district, to pursue higher education in IPTA or IPTS.

“The higher learning institutions must have Memorandum of Understanding (MOU) with industry players so that these students would be employed upon graduation.

“Our aim to bring them out of poverty.”

He said the average sponsorship of RM20,000 for each poor student would pay for their tuition fees, living costs and accommodation.

Dr Yusof continued to say that his ministry would look into increasing the budget for scholarships so that more Sabahan students could enter IPTA or IPTS.

Nonetheless, he also encouraged students to look into scholarships offered by other sponsors as well, including Yayasan Sabah, Petronas, Majlis Amanah Rakyat (MARA) and other foundations.

Read more @ https://www.theborneopost.com/2019/03/26/rm50-million-state-govt-scholarship-open-for-application/