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Higher education: RM4 bil in scholarships, loans offered for tertiary students | Scoop
Pexels pic, October 18, 2024
News

Higher education: RM4 bil in scholarships, loans offered for tertiary students

Ministry will get RM18 bil in total, GLICs and GLCs committed to ensure 50% of scholarships go to low and middle-income families

Main Author Image
R. Dineskumar
Updated
8:03 PM MYT

 

KUALA LUMPUR – Budget 2025 will allocate RM18 billion to the Higher Education Ministry compared to RM16.3 billion in this year’s budget.

Of the allocation, RM4 billion is in the form of scholarships, loans and education allowances, said Prime Minister Datuk Seri Anwar Ibrahim when tabling the budget in Parliament today. 

Anwar, who is also finance minister, said government-linked investment companies and government-linked companies have committed to ensuring that 50% of their scholarships offered will go to students from low and middle-income families. 

To grow talent in science, technology, engineering and mathematics, the National Higher Education Fund (PTPTN) will allocate RM500 million, especially for students in these fields.

Anwar, who is also finance minister, also announced that RM635 million has been allocated to improve infrastructure, replace worn-out equipment and expand internet connectivity in all public universities. 

Universiti Teknologi Mara (UiTM) has been given an additional RM20 million to create more engineers for the electric and electronic (E&E) sector while encouraging Bumiputera participation in this high-growth sector.

In terms of artificial intelligence (AI), he also announced that RM50 million allocation will be given to expand AI-related education to all research universities, an increment to RM30 million from the RM20 million allocated for this year. 

“At the same time, the government will continue to grow research and development (R&D), commercial and creativity.

“R&D funds have been increased to RM600 million, compared to the RM510 million given this year – under the Higher Education Ministry, and Science, Technology and Innovation Ministry.” – October 18, 2024

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