THE cost of higher education can sometimes be prohibitive for students with limited financial resources.
Some are lucky enough to get scholarships, while others have found benefactors to pay for their tuition and living expenses.
But for many young Malaysians, including Calan Moy Ka-Shing and Ng Zhi Ching, student loans are a lifeline in pursuing their dreams of higher education.
The 22-year-old INTI International College Subang (INTI) are borrowers from the National Higher Education Fund Corporation (PTPTN).
Moy and Ng are currently pursuing their Bachelor (Hons) in Computer Science (Software Engineering and Digital Systems Security) and Bachelor (Hons) in Accounting and Finance, respectively.
Loans and financial assistance, Moy said, are crucial, especially for families facing financial hardship as a result of the Covid-19 pandemic.
In addition to financially supporting students, PTPTN student loans and scholarships motivate students to study hard.
“I saw my friends go the extra mile to make sure they keep their scholarships,” Moy said, adding that the financial assistance from the NRTI had been very helpful to him as the pandemic had taken its toll. on family finances.
“The funds helped me complete my studies during the semester.
“The PTPTN loan was not enough to cover the full cost of my program, but it took the financial pressure off our family. I’m grateful that the loan was approved at a time when I needed it most, ”he said.
PTPTN was founded in 1997 with the aim of helping students finance their undergraduate degrees. Since its inception, PTPTN has funded over 60% of Malaysian students to pursue their studies in private and public higher education institutions.
Available to all Malaysians pursuing higher education at public and private educational institutions nationwide, PTPTN loans are intended to help students pursue their degree or degree programs that have been accredited by the Malaysian Qualifications Agency (MQA).
The PTPTN loan allows students to fully or partially pay their tuition fees, as well as cover their cost of living throughout their studies.
Having done well in accounting in her high school years, Ng is happy to be able to pursue the course of her choice with financial support from INTI and PTPTN.
“A heavy weight was taken off my parents’ shoulders and they didn’t have to worry about how they were going to pay my fees each semester.
“They can help me with my living expenses as my tuition is partially covered,” she said.
She added that the financial assistance provided by higher education institutions and crown corporations like PTPTN is helpful for students.
This is particularly the case for those of the B40 and M40 families who have been hit hard by the current economic situation.
“Those in groups B40 and M40 are in difficulty, especially if they have more than one child to fear.
“Student loans, in particular, play an important role for these families as it is a way to support their children and ensure a better future for the next generation,” she said.