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Generally, most education funds have problem collecting back the loans. For example,  PSD, MARA, PTPTN, and also MIED.  MARA and PTPTN are improving after focusing on legal action and improving their system.

MIED said that number of applications is increasing (obviously!) but due to financial constraintst caused by loan defaulters, less applications will be approved.

According to Samy Vellu, non-performing loans (NPL) had been reduced to 17%. Previously, it only 34% actually made repayment! Probably the plan by MIED to bring defaulters to court prompted some of them to pay back.

For this session, MIED handed out RM1.5 million to 185 students. 90 of those students are pursuing medicine. In March this year, MIED gave RM2.7 million to 289 students.

More details from NST:

Besides legal action against defaulters, Samy Vellu said the loan programme had been restructured by allocating funds on a yearly basis and not for the duration of the course.

For instance, if a student pursued a three-year course, MIED would allocate funds for the first year only.

Money for the remaining two years would depend on the student’s academic performance and additional funds provided by the student’s family.
He said this after presenting MIED loans to 185 applicants, amounting to RM1.5 million at the MIC headquarters yesterday. Of the 185, 90 will pursue medicine.

He said since the loan programme was established in the 1980s, about RM90 million had been disbursed to 8,500 students to pursue tertiary education.

Popularity: 1% [?]

I didn’t bother much about this news until the names of Samy Vellu, MIED, and Chitrakala appeared. Looks like Indian community issue since 70% of the affected people are Indians.

I have to wonder, if these graduates are from WHO’s recognised programmes, why don’t they find a job anywhere but Malaysia? The country doesn’t want your services (yet?), so why not work elsewhere first? Perhaps the country where they obtained their degrees will be the best option. So, the decision by some of them to sit for overseas qualifying exams sounds like a better move. Continue Reading »

Popularity: 2% [?]

RM86 million / 8000 students = RM10750/student. 1984 until 2007 is 24 years. Rm86 million/24 years = RM3.583 million per year. Anyway, averages may not be painting the true picture, since if a medicine course costs 300K and a 1-year certificate course costs 5K, the higher-costing course will skew the results. Continue Reading »

Popularity: 1% [?]