PTPTN suggests Sabah sets up education savings fund
Last Update: 07/09/2019
KOTA KINABALU, Sept 7 -- Sabah could follow in the footsteps of other states in encouraging parents to start saving through the National Education Savings Scheme (SSPN) for their children's higher education, according to the National Higher Education Fund Corporation (PTPTN).
PTPTN chairman Wan Saiful Wan Jan said the State Government could also encourage parents to save in SSPN by throwing in some incentives such as prizes in the form of an SSPN account for outstanding students in the UPSR, PT3, SPM, STAM and STPM.
"The state government could establish a Sabah Education Savings Fund for new births, as implemented by Kedah, Perak, Melaka and Terengganu," he said at the state-level SSPN 2019 roadshow here today.
He said the four states presented RM100 to RM200 to each new birth in the form of an SSPN account.
"PTPTN believes the state government would consider the idea in the interest and wellbeing of the people in Sabah besides encouraging the latter to financially prepare earlier on for their children's higher education,” he said.
In another development, Wan Saiful said PTPTN had approved education loans to 191,855 students in Sabah involving RM3.3 billion as of July 31.
On average, 11,000 children in Sabah get to pursue higher education yearly through an annual allocation of RM180 million, he said.
Meanwhile, Chief Minister Datuk Seri Mohd Shafie Apdal in his speech text read out by state Rural Development Minister Datuk Ewon Benedick Ewon who launched the roadshow on his behalf, said PTPTN's proaction in transforming the society's mindset about education fund should be supported by all parties.
“I encourage parents in Sabah who do not yet have any financial education plan for their children to take the initiative to save through the scheme," he said.
At the event, Wan Saiful also presented a mock cheque of RM100,000 to Ewon for 1,000 needy students in the 25 parliamentary constituencies in Sabah.
PTPTN selected the recipients with the cooperation of the state Education Department. The contribution in the form of SSPN-i accounts is part of PTPTN's corporate social responsibility gesture.