Prime minister launches top-up study loans scheme

Prime Minister Datuk Seri Najib Razak last week launched the Skim Prihatin Pendidikan 1Malaysia scheme to assist students at the tertiary level with obtaining additional study loans, reports the official Bernama news agency.

He said that the government had allocated a huge sum for study loans and scholarships in view of the rising cost of higher education, which puts pressure on parents paying for their children’s studies. “Realising the need, the government introduces the SPP1M as additional funding with the loans limited to RM150,000 (US$48,400) for a medical specialist course and RM100,000 (US$32,300) for critical courses chosen,” Najib said at the launch ceremony.

The SPP1M loan acts as a top-up to the existing National Higher Education Corporation Fund loan for students pursuing bachelor or masters degrees in certain fields. The scheme will be implemented in two stages – during the second quarter of 2013 for entry into local universities and in June for twinning programmes and further studies abroad.
Full report on The Malaysian site