By : LEE WEI LIAN (TMI)
CIVIL society group Amanah proposed today an investment fund that could serve as a replacement for the PTPTN federal student loan scheme and help the country deal with rising education costs.
The fund's capital would be derived from contribution from parents and would be managed by a foundation setup by the newly-formed bipartisan Amanah.
The group's president Tengku Razaleigh Hamzah, who is also known as Ku Li, said today that he hoped the proposed fund would be able to collect "a few hundred million" annually from parents.
The investment proceeds could subsequently be used to pay for their children's education.
He noted however that it was still at the proposal stage and no timeframe had been decided yet for its launch.
He said that both Prime Minister Datuk Seri Najib Razak and Opposition leader Datuk Seri Anwar Ibrahim were partly right in their opinions expressed on the PTPTN (National Higher Education Fund Corporation) scheme.
Najib had yesterday said it would be too costly to do away with the scheme as wanted by Pakatan Rakyat (PR) but Anwar had maintained that it was a burden on students and could be done away with using the country's oil revenues.
"So we are taking the middle path," said Ku Li. "The cost of education is getting higher and we should institute a scheme funded by parents of students themselves."
He added that the fund should also be able to help poor students.
PR had previously promised to abolish PTPTN loans and provide Malaysians free higher education when it comes to power and said it was possible by eliminating the country’s wasteful expenditure.
Students, led by Solidariti Mahasiswa Malaysia (SMM), are planning to hold a rally next month calling for the abolition of the PTPTN.
But Higher Education Minister Datuk Seri Khaled Nordin said recently that students who want the PTPTN to be scrapped should vote for the opposition rather than take to the streets as the 13th general election would be called soon.
Khaled had earlier announced at the closing ceremony of the 2012 National Higher Education Carnival here that the Cabinet had approved an additional RM6 billion in funding for PTPTN loans for 2012/13.
His ministry had asked for an additional RM16.5 billion to fund higher education loans for the 2012-2015 period.
Khaled also said that the PTPTN was necessary despite the low tuition fees at public universities as students still needed to pay for food and accommodation.
Najib said that abolishing the PTPTN student loan system would cost taxpayers an additional RM43 billion and noted that only three countries in the world provided free education, including Norway which imposes high taxes on its citizens.
The prime minister pointed out that his administration currently bore 90 per cent of the country's higher education costs, and stressed that the PTPTN was only being utilised to pay tuition fees for students.
Nampaknya sekarang isu PTPTN semakin hangat diperkatakan. Semua ini ada mengenai pemansuhan PTPTN.
ReplyDeletesaya tidak lihat apa2 masalah berkenaan dengan PTPTN hari ini.. apa salahnya kekalkan saja??.. cuba la bersikap adil dengan peminjam2 yang telah menjelaskan pinjaman PTPTN mereka..
ReplyDeleteThe National Higher Education Fund Corporation (PTPTN) has returned RM2.72 million to 3.2 million borrowers until March 31 following the adjustment of loan interest rate from 5 to 3-1 percent.
ReplyDeleteChairman Datuk Ismail Mohamed Said said PTPTN had over the same period disbursed RM43.85 billion loans to 1.96 million students in institutions of higher learning at home and abroad.
ReplyDeleteHowever, 31,606 borrowers of the 1,052,693 borrowers involving RM6.84 billion loans were given repayment extension due to sickness and studying abroad.
ReplyDeletePTPTN had received RM3.8 billion loan repayment while action was taken against 261,561 borrowers who did not respond, involving RM1.8 billion.
ReplyDeleteSince its inception over 15 years ago, PTPTN had disbursed RM43.85 billion loans. This year, RM5.05 billion was disbursed of which RM3.37billion was to existing borrowers and RM1.68 billion to new borrowers.
ReplyDeletePTPTN had approved RM182.3million loans to 14,459 students this year.
ReplyDeletePTPTN had approved RM182.3million loans to 14,459 students this year.
ReplyDeleteIsmail said of 600 private institutions of higher learning (IPTS), 434 whose students were sponsorsed by PTPTN might close down if the loan was removed.
ReplyDeleteHe denied opposition claims that the government was unjust and oppressed the people adding the facilities provided were to overcome their burden.
ReplyDeletePTPTN was also willing to compromise and negotiate with students who had problems repaying the loans.
ReplyDeleteThe recipients of PTPTN loans are beneficiaries, having been able to find a means to secure a degree, a very important step in their lifetime.
ReplyDeleteBeing adults they should realise that they have a moral responsibility to repay the loans when they are gainfully employed later.
ReplyDeleteBeing adults they should realise that they have a moral responsibility to repay the loans when they are gainfully employed later.
ReplyDeleteAnd if they have difficulties there are options to discuss and negotiate loan restructuring. The important point which needs to be impressed on these undergraduates is that there must be some value-add in any endeavour they pursue, be it PTPTN-financed or parent-funded.
ReplyDeleteIt’s often said that if any good is provided or given free, the value element is missing and doesn’t help in the long term.
ReplyDeleteStudents must learn and be responsible early in life to prepare them for bigger challenges in the future. It also further enhances the character and integrity of a person when he or she commits to repay. A loan must be repaid eventually.
ReplyDeleteStudents must learn and be responsible early in life to prepare them for bigger challenges in the future. It also further enhances the character and integrity of a person when he or she commits to repay. A loan must be repaid eventually.
ReplyDeleteWe can take the cue from banks which would always look for credit-worthy customers who demonstrate ability and commitment to repay.
ReplyDeleteThe Government should therefore continue with the PTPTN as the students will see the real benefit years after graduation. It’s relevant and sustainable.
ReplyDelete