Here Are All The Initiatives Introduced In #Budget2025 That Can Help Students & Youths
From financial aid to enhanced accessibility to schools.
By Celine Low — 22 Oct 2024, 03:54 PM
1. Financial aid for higher education
The government has allocated a massive RM4 billion to help students access higher education through scholarships, loans, and allowances.
Government-linked investment companies (GLICs) and government-linked companies (GLCs) will reserve at least half of their scholarships for students from low- and middle-income families.
The National Higher Education Fund Corporation (PTPTN) is providing RM500 million in loans specifically for students pursuing Science, Technology, Engineering, and Mathematics (STEM) fields at public universities to drive the country towards becoming a high-tech nation by 2030.
New tertiary students can start a free Amanah Saham Bumiputera (ASB) account with RM50 from Permodalan Nasional Berhad (PNB).
2. Encourage savings for students' higher education
Using the National Education Savings Scheme (SSPN), the government will continue to offer tax relief on those savings until 2027.
The Matching Grant Initiative (GAPAI) will expand the criteria for matching grants on SSPN savings accounts. If a household earns up to RM6,000 per month, students can qualify for a matching grant of up to RM5,000 on their SSPN savings for a two-year period when pursuing higher education.
3. More access to public transportation
With a subsidy allocation of RM750 million, the Transport Ministry will be rolling out public transport initiatives to help reduce cost of living and improve the quality of public services.
One of these initiatives is a free travel pass for students and disabled folk through the KTM Komuter service.
Through the Demand Responsive Transit (DRT) service, van services will be provided at two train stations for students to travel to school for a fare of 50 sen one-way. Regular passengers can enjoy the service for RM1.
This initiative aims to reduce the financial burden on parents by introducing cheaper fares. Current school van fares cost RM90 per month, according to Bernama. To kick off this initiative, the participating stations will be LRT Sri Rampai and LRT Melati.
Students of all universities, polytechnics, community colleges, and matriculation colleges nationwide who use the BAS.MY service can enjoy complimentary rides.
Financial aid for flight tickets will be provided to underprivileged university students, particularly those from Sabah and Sarawak.
To increase accessibility, the government will subsidise the cost of motorcycle licences for 15 million disadvantaged youths, including students and fresh graduates.
On top of that, the government is providing free motorcycle helmets to 67,000 low-income families for children's safety.
4. Improving connectivity infrastructure in schools and developing local creative talents
Internet access will be provided in rural schools, public universities, and Majlis Amanah Rakyat (MARA) institutions.
To empower the next generation of artistes, the government is launching a MADANI Creative Youth Programme, which aims to help young people nurture their talents in the arts through workshops, community development programmes, and short film competitions.
The government is expanding access to education for children with autism:
- 11 new PERMATA centres with a dedicated facility for the education of autistic children will be built in all states in Malaysia.
- Two new special needs schools will be constructed in Tuaran, Sabah, and Johor Bahru, Johor with a substantial investment of RM300 million.
- An Autism Service Centre will be established to provide comprehensive support and resources to the autism community.
The government will provide financial assistance and increased tax relief to families with autistic children.
Over 110,000 students with disabilities, including autism, will continue to receive a monthly allowance of RM150.
To ease the financial burden on families, 30,000 autistic children will benefit from tuition fee assistance with a dedicated fund of RM15 million.
Parents of autistic children can now claim up to RM6,000 in tax relief for expenses related to their child's treatment and rehabilitation.
Starting from 1 February 2025, the minimum wage will be increased to RM1,700 per month from the current RM1,500.
To help students understand how much to expect salary-wise in various fields after graduation, the Ministry of Human Resources will release a guide showing typical starting salaries for different jobs.
