Published: Wednesday February 6, 2013 MYT 2:20:00 PM
Updated: Wednesday February 6, 2013 MYT 4:53:36 PM
Govt launches special loan scheme for higher studies
By ZUHRIN AZAM AHMAD
PUTRAJAYA: A special loan scheme for degree students who need additional funding of between RM100,000 and RM150,000 has been introduced.
Skim Prihatin Pendidikan 1Malaysia (SPP1M), a top-up funding scheme, will be made available to Malaysian students of local and overseas universities.
It is also open to those currently receiving the PTPTN loan, on government or private scholarships and self-financed students.
For a start, Maybank and RHB Bank have agreed to offer the facility with an initial allocation of RM1bil.
Prime Minister Datuk Seri Najib Tun Razak said more banks were expected to come in and the scheme would ultimately have RM5bil to offer.
"This is a creative way of helping the rakyat," he said when launching the scheme at his office here Wednesday.
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