KUALA LUMPUR: Students taking the Chang Ming Thien Foundation’s interest-free education loans only need to start making repayments three months after completing the approved course.
MCA national education bureau chairman Tan Sri Dr Ting Chew Peh said the loans of between RM10,000 and RM30,000 should be paid back over a maximum period of five years.
He said the main objective of the foundation was to give financial aid to deserving and needy students to pursue tertiary education in approved local and foreign institutions of higher learning.
“An initial RM3mil has been set aside by the foundation for the loans this year,” Dr Ting said here yesterday.
The foundation, with funds now standing at RM26.5mil, came about from a donation by the late Chang Ming Thien, a well-known Malaysian Chinese entrepreneur.
Applications for the loans, open to all Malaysians aged 18 and above, must be submitted to the MCA headquarters at 9th Floor, Wisma MCA, 163 Jalan Ampang, 50450 Kuala Lumpur, by Aug 26.
For details, call 03-2161 8044.