KUALA LUMPUR – The National Higher Education Fund Corporation (PTPTN) has recorded deposits totalling RM1.99 billion in its National Education Savings Scheme (SSPN) last year, an increase of RM623.82 million, or 45.58%, compared with RM1.37 billion in 2019.
In a statement today, it said the record marked the third consecutive year of impressive achievement accomplished by PTPTN since 2018, especially in promoting savings through SSPN.
"The total amount of SSPN deposits accumulated until December 31 last year was RM7.88 billion. The deposit receipt last year was RM1.99 billion, or 132.82%, exceeding the year’s target of RM1.5 billion.”
It added that 436,101 new accounts were opened last year compared with the annual target of 400,000 accounts.
“The 109.03% achievement surpassed the annual target. In total, as at December 31, some 4.82 million SSPN accounts were opened since this savings instrument was introduced in 2004.
“Accumulated investment profit last year rose to RM237.42 million, an increase of 15.7%, compared with RM205.28 million the previous year.”
PTPTN chairman Datuk Wan Saiful Wan Jan attributed the corporation’s outstanding achievement to its dedicated officers at all levels, including members of the management board.
“There is much more that we need to do to change the culture of the community, and we will continue with the efforts that we have planned.”
Last year, PTPTN assisted 150,567 students to further their studies at institutions of higher learning through approved education loans amounting to RM3.59 billion.
It said of the total, 59,421 students were from the B40 group and the less affluent.
Its reimbursement collection was recorded at RM1.353 billion, above last year’s target of RM1.175 billion.
Wan Saiful said this year, PTPTN will continue its efforts in cultivating savings to reduce dependence on loans. – Bernama, February 10, 2021
.jpg)
