KUALA LUMPUR, Oct 21 — Putrajaya will allocate RM4.3 billion for scholarships in 2017, Prime Minister Datuk Seri Najib Razak announced today amid concerns austerity measures would slash aid for students.
At the same time, a total of RM7.4 billion has been allocated for 20 public universities, with RM1.4 billion allocated to four university hospitals, while RM300 million is also allocated for the empowerment of five research universities, the prime minister said when tabling Budget 2017 in Parliament.
In addition, a sum of RM100 million has been allocated to higher education institutions to foster research culture, as well as to increase publications and intellectual properties.
The government will also replace book vouchers with student debit cards to enhance effectiveness of assistance to students in institutions of higher learning. This is expected to benefit 1.3 million students.
Najib also announced efforts to encourage repayment of PTPTN loans with a 15 per cent discount on students’ outstanding debt for full settlement, as well as a 10 per cent discount for those who pay at least 50 per cent of the outstanding debt in a single payment.
Those repaying through salary deduction or direct debit in accordance with the repayment schedule will be given a 10 per cent discount.
The above incentives will be effective tomorrow, 22 October 2016 till December 2017.
