BACHOK (Bernama): The National Higher Education Fund Corporation (PTPTN) plans to improve its “matching grant' incentive for its saving scheme, to encourage more parents to save for their children's education.
Its chairman, Wan Saiful Wan Jan, said the PTPTN board of directors, during a meeting early this month, agreed to apply to the Finance Ministry for approval on the move.
He said the scheme, when it was implemented last year, provided a matching grant of RM500 only for those who deposited RM500.
“With the improvement, even if parents deposit RM10, PTPTN will give them additional RM10, until the permissible limit of RM500,” he told reporters after opening the “Jelajah Solo Gen Y Nilai Murni Rakyat Malaysia” programme at Sekolah Menengah Kebangsaan Kubang Telaga here on Tuesday (April 23).
He hoped more parents, especially fishermen, farmers and smallholders, would take advantage of the incentive by opening the SSPN saving accounts for their children. - Bernama