Exchange of the memorandum of agreement documents between Ahmad Dasuki (left) and Dr Ridzwan with Norliza as witness.
Study loan provider inks deal with foundation to jointly implement endowment fund, an alternative education aid
NATIONAL Higher Education Fund Corporation (PTPTN) and Yayasan Waqaf Malaysia (YWM) have embarked on a new chapter through a strategic collaboration to elevate higher education and community development.
An agreement was sealed by PTPTN chief executive officer Ahmad Dasuki Abdul Majid and YWM chief executive officer Dr Ridzwan Bakar, witnessed by PTPTN chairman Datuk Norliza Abdul Rahim.
Also present was Infrastructure University Kuala Lumpur president and vice-chancellor Prof Datuk Dr Noor Inayah Yaakub.
PTPTN supported the mission to empower saving practices to reduce society’s reliance on loans, thereby ensuring that students were not burdened with debt upon completing their studies.
In fulfilling the responsibility, PTPTN took steps to establish educational endowments as one of the initiatives to diversify PTPTN’s funding sources for higher education financing.
Through the agreement, PTPTN and YWM were committed to collaborating in the implementation of educational endowments.
Both parties agreed to carry out the PTPTN-YWM Educational Cash Waqf cooperation, beginning with establishing an endowment fund as one of the initiatives to diversify funding sources for higher education financing.
The endowment fund is in addition to the existing PTPTN education loan provision.
It was also to make the endowment fund an instrument for redistributing wealth for national education development among undergraduates through alternative education aid in the form of PTPTN Cash Waqf scholarships.
The agreement also aims to reduce society’s dependence on education loans, thereby reducing the burden of loan repayment or debt by students.
Norliza expressed hope that the initiative would receive strong support from the community.
“I hope when this educational endowment is launched, it will receive encouraging support from companies, financial institutions, government and private agencies, as well as customers to carry out charitable deeds through educational endowments.
“I believe this educational endowment will enhance students’ motivation to pursue higher education and contribute to the development of the nation’s human capital.”
Norliza said the effort could also reduce PTPTN’s dependence on the government as a financing source.
