PTPTN study loans totalled RM49.18 billion as of May

The National Higher Education Fund Corporation (PTPTN) has approved study loans amounting to RM49.18 billion as at May, for 2.18 million students seeking higher education.

Its chairman Datuk Ismail Mohamed Said said PTPTN was committed to providing the financial facility which is based on the Islamic sharia wage rate of one per cent per year, to needy students, despite criticisms from certain quarters.

"PTPTN offers the financial assistance to needy students only and will not force them to take the loan," he said in his address at the presentation of initial funding (WPP) warrants to 98 students from the Kuala Krau parliamentary constituency here.

Ismail, who is also the area's MP, said as at April 30, a total of 619,647 WPP warrants amounting to RM910.87 million had been presented.