RM689 million in Sabah SSPN deposits
Published on: Sun, Jul 27, 2025
By: Cynthia D Baga Text Size: 'Education funds such as the National Education Savings Scheme (Simpan SSPN) play an important role in ensuring access to education is not affected by financial constraints," Mustapha said. Kota Kinabalu: Sabah has so far received National Education Savings Scheme (SSPN) deposits amounting to RM689.84 million, with more than 500,000 accounts opened since it was introduced in 2004 up to June 30 this year. Deputy Minister of Higher Education, Datuk Mustapha Sakmud, said this is a proud achievement and proof that the support of Simpan SSPN depositors remains strong. 'I have been informed that since 2004 the National Higher Education Fund Corporation (PTPTN) has focused on the mission of encouraging savings to reduce society's dependence on loans. Alhamdulillah, over more than two decades, Simpan SSPN has continued to record sustainable performance every year and gained the confidence and trust of the public. 'I hope that Simpan SSPN will become the best choice for parents to save consistently for a guaranteed future in education. 'Take the opportunity today to start saving with Simpan SSPN, which offers various benefits and privileges. Savings for education is a form of long-term investment that ensures the future of children. 'The development of the country's education does not only depend on the provision of infrastructure and quality educators, but also requires strong support from the aspect of effective financial planning. 'Education funds such as the National Education Savings Scheme (Simpan SSPN) play an important role in ensuring access to education is not affected by financial constraints," he said at the Anak Warisan Simpan SSPN 2025 carnival (Kawan) organised by PTPTN, Saturday, at the Exhibition Hall in Complex Karamunsing. According to Mustapha, since 2022 until June this year, about RM77.01 million had been allocated by the State Government through the Deputy State Secretary Office (Special Duties) for incentives for programmes such as Bistari, Budi and Bakti. 'It includes contributions in the form of Simpan SSPN accounts for several programmes, namely the Birth Incentive under the State Education Fund Compassionate Assistance (Bistari) with an allocation of RM4.12 million. 'This incentive targets babies born in Sabah with a contribution of RM100. 'In 2025, this assistance will also be extended to Year 1 pupils in primary schools, with an estimated 25,000 students set to receive this contribution. 'The One-Off Cash Assistance for IPT Registration (Budi) with an allocation of RM49.89 million is to help Sabahan students from the B40 and M40 groups who have received offers to further their studies at local and international higher learning institutions, with a contribution of RM1,500 for Foundation/Matriculation/Diploma-level programmes and RM2,000 for Degree-level programmes, and the Special Examination Cash Assistance Incentive (Bakti) with an allocation of RM23 million. 'This assistance is given to students from the B40 group who will be sitting for major examinations such as SPM, STPM and STAM, with a contribution of RM200. 'Therefore, I urge the State Government, government agencies and the private sectors to make Simpan SSPN the main choice for providing incentives to employees, students and others,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
2 days ago
- The Sun
Malaysia makes preschool mandatory at age 5 in new education reforms
KUALA LUMPUR: Early childhood education will become compulsory for five-year-olds under Malaysia's newly released 13th Malaysia Plan (13MP), while community-based schools for Orang Asli and rural populations will be expanded nationwide. The Ministry of Economy's blueprint outlines eight key strategies to transform education quality across all levels. The document states: 'Education reform is a key pillar of the structural transformation outlined under 13MP, aimed at improving learning outcomes, strengthening teacher competencies, and enhancing the overall quality of teaching and learning nationwide.' Primary education will begin at age six following international standards, with English incorporated as part of instruction for lower primary students. The plan includes expanding language options at primary level and introducing a new law to regulate early childhood education. A national education council will coordinate system-wide improvements, while universities will pilot greater autonomy schemes. The reforms also address special needs education, with expanded access from preschool to secondary levels nationwide. Assessment systems will be upgraded to meet global benchmarks, including new frameworks to measure graduate outcomes and reduce skill mismatches. The document notes: 'A mandatory paid internship scheme will be introduced to encourage greater participation from industry, particularly among micro, small and medium enterprises.' Infrastructure development forms another key focus, with school construction becoming mandatory for large housing projects. Vertical schools will address urban land constraints, while PTPTN loan schemes will be revised for sustainability. A unified national platform will manage education sponsorships and donations from various stakeholders. - Bernama
New Straits Times
5 days ago
- New Straits Times
PTPTN offers repayment lifeline amid rising costs
KUALA LUMPUR: Faced with rising living costs and mounting financial commitments, many borrowers are finding relief through the National Higher Education Fund Corporation (PTPTN) loan restructuring initiative. For financial officer Suhazlin Shahrul Anuar, 36, who took out an RM16,950 loan in 2007 when studying at Politeknik Johor Baru, restructuring her loan early last year was a turning point in managing her finances. "Previously, I was paying around RM180 a month. After I took a housing loan, I just couldn't keep up with the full amount." Her new repayment schedule, which runs from December 2024 to June 2032, has slashed her monthly commitment to RM95.36. "It helped me reorganise my budget. I no longer worry about falling behind or seeing my name listed in the Central Credit Reference Information System (CCRIS)." Suhazlin said the restructuring allowed her to keep paying without defaulting, thanks to a direct debit arrangement she now uses. "It's not about avoiding responsibility. Restructuring made it manageable. I encourage other borrowers in similar situations to restructure too. It's better than ignoring the loan altogether." She views repaying the restructured loan as a social responsibility. "We've benefited from this fund. By paying it back, we're ensuring the next generation has the same opportunity to pursue their education." Her sentiments are echoed by Chong Suk Ting, 28, an environmental, health and safety engineer who restructured her PTPTN loan after taking part in her company's voluntary separation scheme (VSS). "I started my loan around 2021 when I was studying at Universiti Tunku Abdul Rahman. After the VSS, I reviewed my financial position and realised I couldn't keep up with the previous payment amounts." Before restructuring her loan, Chong had struggled to make consistent payments. Some months I paid RM50, some months RM100. It was inconsistent, and it affected my CCRIS report." After consulting with PTPTN officers, she managed to restructure her loan to a level she could afford. "They were helpful and guided me through it. It's a relief to know what I need to pay each month, and I no longer feel overwhelmed by the debt." Like Suhazlin, Chong sees repayment not only as a financial obligation but a moral one. "If we don't repay now, we'll still have to do it later but maybe with consequences. More importantly, other students need this money to pursue their education. "Some people think they can ignore it, but it's better to face it head-on. PTPTN has made it easier. They understood our situation and gave us a second chance to do the right things." Both Suhazlin and Chong agree that PTPTN's initiative is timely and crucial in today's economic climate. "Not every loan agency offers this kind of flexibility. It shows that PTPTN cares more about helping us borrowers than punishing us for falling behind," Suhazlin said. PTPTN introduced its loan restructuring to help borrowers who are struggling with repayment due to financial hardship. Under the #BolehBincang initiative, borrowers can revise their repayment schedule based on current income and commitments, making it easier for them to make repayments consistently and manage their finances more effectively. To initiate loan restructuring discussions and access information, download the myPTPTN app. Borrowers can also explore PTPTN's restructuring options by contacting PTPTN Careline at 03-2193 3000 or via Live Chat on the PTPTN portal at
Daily Express
7 days ago
- Daily Express
RM689 million in Sabah SSPN deposits
Published on: Sunday, July 27, 2025 Published on: Sun, Jul 27, 2025 By: Cynthia D Baga Text Size: 'Education funds such as the National Education Savings Scheme (Simpan SSPN) play an important role in ensuring access to education is not affected by financial constraints," Mustapha said. Kota Kinabalu: Sabah has so far received National Education Savings Scheme (SSPN) deposits amounting to RM689.84 million, with more than 500,000 accounts opened since it was introduced in 2004 up to June 30 this year. Deputy Minister of Higher Education, Datuk Mustapha Sakmud, said this is a proud achievement and proof that the support of Simpan SSPN depositors remains strong. 'I have been informed that since 2004 the National Higher Education Fund Corporation (PTPTN) has focused on the mission of encouraging savings to reduce society's dependence on loans. Alhamdulillah, over more than two decades, Simpan SSPN has continued to record sustainable performance every year and gained the confidence and trust of the public. 'I hope that Simpan SSPN will become the best choice for parents to save consistently for a guaranteed future in education. 'Take the opportunity today to start saving with Simpan SSPN, which offers various benefits and privileges. Savings for education is a form of long-term investment that ensures the future of children. 'The development of the country's education does not only depend on the provision of infrastructure and quality educators, but also requires strong support from the aspect of effective financial planning. 'Education funds such as the National Education Savings Scheme (Simpan SSPN) play an important role in ensuring access to education is not affected by financial constraints," he said at the Anak Warisan Simpan SSPN 2025 carnival (Kawan) organised by PTPTN, Saturday, at the Exhibition Hall in Complex Karamunsing. According to Mustapha, since 2022 until June this year, about RM77.01 million had been allocated by the State Government through the Deputy State Secretary Office (Special Duties) for incentives for programmes such as Bistari, Budi and Bakti. 'It includes contributions in the form of Simpan SSPN accounts for several programmes, namely the Birth Incentive under the State Education Fund Compassionate Assistance (Bistari) with an allocation of RM4.12 million. 'This incentive targets babies born in Sabah with a contribution of RM100. 'In 2025, this assistance will also be extended to Year 1 pupils in primary schools, with an estimated 25,000 students set to receive this contribution. 'The One-Off Cash Assistance for IPT Registration (Budi) with an allocation of RM49.89 million is to help Sabahan students from the B40 and M40 groups who have received offers to further their studies at local and international higher learning institutions, with a contribution of RM1,500 for Foundation/Matriculation/Diploma-level programmes and RM2,000 for Degree-level programmes, and the Special Examination Cash Assistance Incentive (Bakti) with an allocation of RM23 million. 'This assistance is given to students from the B40 group who will be sitting for major examinations such as SPM, STPM and STAM, with a contribution of RM200. 'Therefore, I urge the State Government, government agencies and the private sectors to make Simpan SSPN the main choice for providing incentives to employees, students and others,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
