Now this is good news for parents like me with kids in universities.
Prime Minister Najib Razak yesterday launched the Prihatin Pendidikan 1Malaysia scheme (SPP1M) for university students in local and foreign universities under which they can apply additional for additional study loans.
"We realise and understand the constraints that parents face when financing their children's education as the cost of education is getting expensive, especially for those studying abroad.
"This top-up scheme is a creative solution. It is unique and never been introduced before," he was quoted to have said.
SPP1M loans are up to RM100,000 for those pursuing degrees in "critical" fields, including science and technology, professional degrees, and up to RM150,000 for those specialising in certain areas of medicine.
Najib said those who take up the loans would be charged one per cent less than the base lending rate (BLR) by participating banks while the students were still studying.
For example, if the BLR is five per cent, then the interest rate would be four per cent.
After graduation, the interest rate would revert to the BLR.
Well you can read more about it online in most local news websites.
Berambah parahlah graduan kita semua. Sudahlah berhutang dengan PTPTN dan sekarang bersambung pula dengan SPP1M. Sampai kiamatlah baru habis bayar!
Wow! one debt after another for our graduates. I thought this country producing own petroleum/oil and collect billions in term of taxes from rubber, oilpalm, manufacturers, electronic investment etc and yet cannot provide free tertiary education to our own people. Where have all the money gone to?
Perhaps we really need a new government of the people, by the people and FOR THE PEOPLE..
welcomed but timing looks very much like more goodies for the GE.......and some can get multi million ringgit contracts.....
After 55 years of Umno/BN rule,why now?A gimmick to get votes for his unpopular Umeno.
Nuraina,if Umno/BN,the ruling regime can afford to pay PSY,the Korean fat tortoise aka 'Mama Rosy' to do the turtle dance for millions of ringgit,why not 1k or 2k for every citizen of Malaysia.
It is the early signs of a desperate regime on the way out.Hanging onto a straw,with the water level rising up to the nose by the ticking miniscule seconds.
As usual the goodies are out during the election season.If the regime hang on to power,they will be all out to loot the people's bank till it is like the Pigg's nations,on the way to total bankruptcy.
Najib must be a crazed teen fan on gangnam,to pay PSY 2 million ringgit from taxpayers fund.Maybe he is in a self fullfilling cycle of second childhood.Or having a last hurrah on the people's expense,before becoming an ordinary citizen once again.
Instead of following Sharifah's listen,listen,listen and let me speak,let me speak and let me speak.Nobody wants to listen to Najib speak,so he needs PSY to show up for people to come.What a sham or shame.
kalau tank sanggup, jangan lah pinjam...tapi saya rasa skedule repayment ok.
anon@8:45PM: aiyaah...bagi salah tak bagi salah. sekarang minta education free.
mean machine: gimmick?
I quite agreed with anon 8.45. Our government give out projects everywhere in BILLIONs. This is a very rich government of the rakyat and i think rakyat have the right to ask for free education. It is a basic necessity of the people instead of spending hundreds of million on lembu condo and hundreds thousand of ringgit to buy one police speed trap camera or few million for a stadium runtuh in Trengganu. etc.
Look at the education system first. See how rotten it is. Why borrow extra money to obtain something thats not worth the papwer on which it is written??? Overhaul the whole education system before you talk about an education system that is worth the thousands that parents and students sacrifice.
Malaysians want everything free and are never satisfied with anything.They moan about everything under the sun.
In the 70s in the UK, students were given grants by even local councils.Tenguk apa jadi sekarang? No more grants, semuanya loans kena bayar balik and fees pun melambung tinggi, even for local Brits.Sama juga diUS.Students diberi loans, kena bayar balik,its taken out of their pension automatically kalau tak bayar. We should do the same with our student loans, take it out of EPF.Mereka negara kaya pun tak beri education percuma.Will Pakatan Rakyat do better than negara maju yang lain ni? Cakap saja banyak....
Kau jgn brlajar la senang. Dah bg pinjam masih nak memekak
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