PTPTN Turns 25! Here's A Look At How They've Helped Malaysians Over The Years

Thank you, PTPTN, for supporting the dreams of Malaysians for 25 years and counting!

Cover image via PTPTN (Provided to SAYS)

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This Spotlight is sponsored by Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN).

2022 marks 25 years of Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN)'s contributions to Malaysian society

Since their establishment, PTPTN has had one goal — to ensure that no student drops out of higher education due to financial constraints.

Looking back at the history of PTPTN, the organisation was created by the Minister of Education in 1997, in line with the Education Democratisation Policy where all parties are given equal opportunities to get loans or funding for higher education.

PTPTN was established under the National Higher Education Fund Corporation Act 1997 (Act 566) which came into force on 1 July 1997.

For 25 years and counting, PTPTN has done their best to help Malaysians further their education

PTPTN's main function is not only managing education loans and collecting loan repayments, but also providing an education savings scheme known as Simpan SSPN to help parents make financial plans for their children's higher education.

As of 30 June, PTPTN has recorded a very encouraging collection of Simpan SSPN deposits of RM12.47 billion from over 5.45 million accounts. That's pretty awesome!

Additionally, the organisation has helped about 3.67 million students to date, with the amount of loans given out totaling up to RM66.87 billion.

More interestingly, some of the beneficiaries of this funding have been successfully recognised for their expertise in various government and private sectors. In fact, the facilities offered by PTPTN can help borrowers raise their standard of living and lead to them becoming an important asset and human capital for the country.

PTPTN also helps students make early preparations for going to institutions of higher education through the provision of Wang Pendahuluan Pinjaman (WPP). From 1999 to now, a total of 1.61 million WPP warrants have been offered to students, totaling up to RM2.39 billion.

Thanks, PTPTN, for supporting the dreams of young Malaysians who aim to complete their tertiary education!

Previously, from 2019, the PTPTN loan repayment exemption was only given to borrowers from the B40 and M40 groups who obtained a First Class Bachelor's Degree

With the prime minister's recent announcement on 27 July, in conjunction with PTPTN's 25th Silver Jubilee Celebration, this incentive has been extended to all categories of borrowers who graduate from 2019 onwards, regardless of income limit.

This clearly shows the government's care and concern for Malaysian students. At the same time, it also acts as an incentive to encourage students who are PTPTN borrowers to achieve excellent results in their studies.

As an agency under the Ministry of Higher Education (MOHE), PTPTN is always committed to ensuring that matters regarding the loan repayment exemption can be implemented properly for the welfare of borrowers.

Over the years, it's clear that PTPTN has greatly contributed to our country

Thanks to the financial assistance provided by PTPTN, Malaysian students can easily continue their studies, pursuing it all the way to the highest level. Then, when this eventually leads to their future success, they are not only able to improve their family's standard of living, but also contribute to the country as an educated and skilled professional.

Through Simpan SSPN, PTPTN has helped Malaysian parents make financial plans for their children's education from a young age, thus producing debt-free graduates. With its benefit of free takaful protection, this savings scheme has helped to overcome the problem of students dropping out due to insufficient funds.

PTPTN also has its Geran Sepadan initiative, where Simpan SSPN Prime depositors whose household income does not exceed RM4,000 are eligible to be considered for a grant of up to RM10,000 for beneficiaries (children) who successfully continue their tertiary education.

These are just some of the ways PTPTN has helped Malaysians are able to make their dreams and ambitions come true, by ensuring that students continue to receive a perfect education.

PTPTN's success in contributing to Malaysians' financial planning, especially their efforts to foster a culture of saving among parents, can be seen via the rebranding of their savings products

Previously known as SSPN-i and SSPN-i Plus, these savings tools have been rebranded into Simpan SSPN Prime and Simpan SSPN Plus. The new products maintain all the existing benefits, with the addition of more attractive takaful benefits.

PTPTN hopes that this rebranding will encourage more parents to make Simpan SSPN the main savings option for higher education purposes, while also building trust as a brand that helps the community to make financial plans.

Despite its success and achievements, PTPTN also faces its own share of challenges and obstacles

Based on the number of students admitted to higher education institutions, which is expected to increase from 1.4 million people a year to two million people a year, PTPTN expects an increase in borrowers by the year 2040.

Large funds are required in order to keep up with the demand for loans. Thus, in collaboration with various parties, PTPTN is implementing strategies to remain relevant in carrying out its functions and role as the country's main education fund.

In an effort to ensure that PTPTN is on par with other financial institutions in the market, the organisation has created the myPTPTN app to improve online services

The myPTPTN app has been in service since 29 March 2022, and in a nutshell, it's a mobile application that offers online PTPTN services. You can review your loan statements, loan repayments, and Simpan SSPN statements, as well as open accounts, make Simpan SSPN deposits, and do salary deductions. The app also makes direct debit applications for loan repayments and Simpan SSPN accounts so much easier.

You can download the myPTPTN app via the App Store, Google Play, or HUAWEI App Gallery.

Here's a quick guide on how you can download the myPTPTN app:

PTPTN is also making sure to stay up to date with the latest digital trends. For example, potential borrowers used to have to fill in the OMR Application Form, but now, the loan application can be done easily online.

Another example is how PTPTN now allows cashless payments via various online channels, including Internet banking and e-wallets.

Additionally, PTPTN is also trying to improve financial literacy among children via their Kelab Simpanan Pendidikan

Created in collaboration with the Ministry of Education's Sports, Co-curricular, And Arts Division, the club aims to foster awareness about the importance of saving for the future. It operates under school clubs and associations, which is a mandatory extracurricular activity for all students.

This is one of PTPTN's initiatives to introduce Simpan SSPN to primary school students. The club will be able to spread awareness about Simpan SSPN and help students cultivate a saving habit through their co-curricular activities.

On 27 July, the PTPTN 25th Silver Jubilee Celebration was held to appreciate all of PTPTN's efforts and contributions since its inception

In attendance at the ceremony were Prime Minister YAB Datuk Seri Ismail Sabri Yaakob and Minister of Higher Education YB Datuk Seri Dr Noraini Ahmad.

In conjunction with their 25th anniversary, PTPTN did not forget to appreciate the cooperation received from various parties, including ministries, departments, public agencies, and individuals.

PTPTN also gave appreciation to borrowers who have successfully completed their studies and subsequently contributed to their families and the country. This involved giving out awards such as Anugerah Tokoh Peminjam Berinspirasi, Anugerah Keluarga Malaysia Berinspirasi, and Penghargaan kepada Kerajaan Negeri, Kementerian, dan Agensi.

The recipient of the Anugerah Tokoh Peminjam Berinspirasi was Achmad Noorasyrul, who comes from a B40 family and received a PTPTN loan in 2005. Now, he is the Managing Director of Idolegacy Sdn Bhd, which runs the Riderunner project in Sabah.

The PTPTN loan he received enabled him to continue his studies at UiTM Kota Samarahan, Sarawak. After gaining success, he gave back to the community by providing job opportunities for young people and housewives in Sabah.

For more information about PTPTN, as well as their achievements and services, check out the PTPTN 25th Silver Jubilee microsite

You can also watch the video below for a look into PTPTN's history:


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