MIED loan given out

July 2nd, 2010 by poobalan | View blog reactions Leave a reply »
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Surprising news indeed since there wasn’t any news of the loan application being open in recent times. Maybe I missed it.

Anyway, RM96 million has been given out since 1984, which is 26 years period. That’s about RM3.69 million per year. Its also an average of RM10105 per student. For the current session, RM1.5 million for 189 students averages about Rm7936 per student.

The Maju Institute of Educational Development (MIED) has disbursed study loans and grants worth RM96 million to 9,500 students since 1984, its chairman Datuk Seri S. Samy Vellu said today.

Samy Vellu, who is also the MIC president said MIED would continue to assist needy students in pursuing their education at tertiary level.

“At the same time, I also urge recipients who are currently employed to repay their loans so that we can help other students,” he said before handing out MIED study loans worth RM1.5 million to 189 students at the MIC headquarters here.

He said to-date, the MIED had managed to collect more than RM38 million from previous MIED recipients.

“We managed to recover this amount following several reminders and legal notices to some loan recipients,” he said.

He also said the MIC owned-Tafe College in Seremban managed to create more than 40,000 professionals to-date.

“The MIC will continue to place priority on education amongst the Indians,” he said, adding that he was happy that the target set by the party to create a graduate in each Indian family has gained momentum.

“In fact, there are more than one graduate in a family and many of them are professionals. The MIED itself has helped thousands of students to become doctors and lawyers,” he added.

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