Kota Baharu, Jan 4 – Majlis Amanah Rakyat (Mara) has allocated RM2 billion for about 25,000 students who want to further their studies in various fields at the degree, masters and doctorate levels this year.
Its chairman, Tan Sri Annuar Musa, said the allocation was an increase of between 10 and 15 per cent from last year’s, taking into consideration the increased cost of sponsorship and course fees.
“This is a special allocation by the federal government and is separate from the RM1-billion education budget which was announced by the prime minister in Budget 2014,” he told reporters here today.
Annuar said an assessment of sponsorship had to be done to ensure prudent spending by Mara as well as maintain the confidence of the local institutions of higher learning.
“For instance, in the field of medicine and dentistry, local universities are capable of producing 3,000 graduates a year. This has enabled us to reduce the amount of sponsorship overseas.
Annuar also said that Mara had written off RM1 billion of the education loans to its sponsored students.
“This is given to students who have attained certain achievements such as academic excellence, students who are from low-income families as well as those who are still jobless after graduating and have appealed to Mara with valid reasons,” he said.
He said the reduction involves 80 per cent of the funds given out to the sponsored students.
“In other words, we only collected 20 per cent of the amount that was given out. We do not have a problem giving students the reduction, but what is important is their excellence.
Annuar said the reduction, which was given two weeks ago, would help lighten the burden on parents and students, especially fresh graduates.
“We hope that the reduction in loan would result in academic excellence,” he said, advising Mara-sponsored students who would be completing their studies to take advantage of the loan reduction offered.
– Bernama
