The National Higher Education Fund Corporation (PTPTN) has received RM115,000 in contributions from six corporate companies since its myWaqafPTPTN initiative was established.

PTPTN chairman Datuk Norliza Abdul Rahim said this initiative was one of the efforts to diversify PTPTN's funding sources, in addition to existing loans.

"The myWaqafPTPTN initiative also aims to help students in the form of higher education scholarships, thus reducing the burden of loan repayments," she said at PTPTN's 2024 Customer Engagement Ceremony at Royale Chulan Kuala Lumpur here on Wednesday.

"Alhamdulillah, myWaqafPTPTN has received encouraging support."

Among the earliest corporate contributors was UOB Islamic Asset Management Sdn Bhd, which gave RM50,000, followed by Saturna Sdn Bhd with RM30,000.

Three other companies contributed RM10,000 each, namely Uda Holdings Bhd, Principal Islamic Asset Management Sdn Bhd and Ninja Logistics Sdn Bhd. Bank Muamalat Malaysia Bhd contributed RM5,000.

"I also call for the support of all stakeholders, strategic partners, and customers to encourage the practice of endowment through myWaqafPTPTN," Norliza said.

"Interestingly, every contribution to myWaqafPTPTN qualifies for a 10 per cent tax deduction from aggregate income under Subsection 44 (11C) of the Income Tax Act 1967."

PTPTN launched the higher education endowment fund myWaqafPTPTN in collaboration with the Yayasan Waqaf Malaysia (YWM).

Both agencies agreed to implement the PTPTN-YWM education cash endowment cooperation aimed at transforming PTPTN into an endowment institution that allows stakeholders to contribute to higher education funding in the country.

Certificates of appreciation were also presented to 10 strategic partners who contributed to savings encouragement and loan repayments for last year and this year.

The agencies included the Higher Education Ministry, Education Ministry, Health Ministry, the Sarawak government, the Sabah government, police and the armed forces.

PTPTN is also very proactive in conducting various programmes, such as corporate social responsibility (CSR) programmes, for university students.

At the same event, PTPTN provided a CSR contribution totalling RM5,000 in the form of Simpan SSPN Prime savings accounts to 10 special students, five of whom were from Universiti Kebangsaan Malaysia and five from Universiti Sains Islam Malaysia (USIM).

"Each student will receive savings in the form of a Simpan SSPN Prime savings account totalling RM500 each.

"I hope this contribution will inspire students to continue achieving success and utilise this contribution for future preparations.

"Through savings in Simpan SSPN Prime, various benefits and privileges are provided to depositors. 

"Among them are income tax assessment exemptions of up to RM8,000 per year, takaful coverage for depositors, matching grants of up to RM10,000 for eligible families, competitive dividends, government-guaranteed savings and syariah compliance," she said.

Among the beneficiaries of PTPTN's CSR donation was Syaza Athirah Sailan @ Sazali, a 25-year-old with hearing impairment.

Syaza emphasised her plans to use the donation to finance her studies in the Master of Faith and Religious Studies (Honours) program at USIM.

"I am sincerely thankful for this donation. My hope is that PTPTN will persist in extending aid to more students aspiring to pursue higher education, guiding them toward the ivory tower, InsyaAllah," she said.

PTPTN also celebrated the winners of the WOW series draw campaign, Cabutan WOW! Gong Xi Ang Pow 2024, at the event. 

This campaign is the first draw in a series of Cabutan WOW! Simpan SSPN 2024, and was held from Jan 1 until Feb 29. It offered prizes in the form of cash amounting to RM100,000. 

Grand prize winner Ng Wei Chein, a lecturer from Universiti Sains Malaysia who opened a Simpan SSPN Prime Savings account last year, was awarded a generous sum totalling RM10,000.

Ng said he decided to continue investing in Simpan SSPN based on a sense of responsibility and prudent financial planning.

"I was surprised because my initial intention was solely to save for my son, who was born last year. This was all about securing his future, particularly focusing on his education in the future," he said.

"With this prize, I've opted to continue investing in Simpan SSPN, given the competitive dividends it offers."

PTPTN reaffirmed its commitment to the Malaysian community, particularly in prioritising financial planning for the future of children's higher education.

"Our aspiration at PTPTN is to foster a shift in the community's mindset away from sole reliance on loans, advocating instead for the cultivation of savings habits," said Norliza.

"This way, we aim to ensure that graduates are not saddled with excessive debt burdens post-graduation."

"Opening an account or increasing savings can be done online through the myPTPTN application more easily, quickly and securely."  

More information can be obtained from PTPTN's official portal at www.ptptn.gov.my

https://www.nst.com.my/news/nation/2024/05/1048587/ptptn-welcomes-partnerships