Please raise PTPTN loans to suit current economic situation

 

From Geraldine Perreira

My younger son is currently sitting for his SPM examination. In a few months, the results would be out and, if all goes well, he’d probably be looking for a tertiary institution to pursue his studies.

For many parents, this would be an emotionally-mixed moment, based on my experience with my elder son, who’s now doing his first year for a degree programme in a private university.

On the one hand, we are proud that our children have completed formal schooling and are now headed for the tertiary level.

On the other hand, many of us ponder where to source the finances to fund the studies, especially those of us in the B40 and M40 categories.

Tertiary education, especially in privately-funded ones, is not cheap. A one-year foundation course can cost over RM30,000. After that, there are diploma or degree programmes which will cost many times more.

It’s true students can opt for publicly-funded institutions but the availability is limited. As a result, many parents, like me, are forced to send their children to private colleges or universities.

Like many others, my elder son has received the PTPTN loan. For this we wish to thank the government, failing which we would not have been able to afford to send him to further his studies at a private university in the country.

The truth is, many parents like myself have dug deep into our savings during the pandemic and we have barely gotten back on our feet. It doesn’t help that the economy is not robust like before, with prices of necessities and utilities creeping up.

Even the PTPTN loan for my elder son is not enough to cover his expenses. But luckily, he was able to secure a bridging loan facility from the university to make up for the shortfall. Without this, we would probably have to turn to our relatives for financial help.

I consider my elder son lucky to have gotten the financial support from his university. Not many private tertiary institutions offer these.

This is why I am starting to worry about finances for my younger son when he commences tertiary education, probably in August or September this year.

In this respect, I hope the government would consider increasing the quantum of the PTPTN loan to help students cover basic needs. Otherwise, they would be distracted from their studies, having to live on a shoestring budget or even work part-time to ease the burden to their parents.

The reality is that the cost of living has shot up and the government needs to take into consideration prevailing circumstances when approving PTPTN loans. - FMT

Geraldine Perreira is an FMT reader

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.