As the election comes closer, I seem to be getting nauseated every time I hear the mainstream news. The word 1 this and 1 that never failed to be portrayed in the news/commercials. I stopped watching the mainstream TV news and newspapers almost 5 years ago as I felt like a fool sitting in front of the TV box. No wonder they use to call it ” A fool’s Box”! However, sometimes I end up listening to the news while I am eating or drinking a cup of coffee at a tomyam shop. There is nothing educational in the TVs nowadays for the younger generations. It is either some rubbish news for idiots or entertainment to keep the population as dumb as possible. Just compare the news at CNN, BBC, Al Jazeera and our TV3 news !!
The latest series of 1 this and 1 that is SPP1M. Just when we thought we had enough of BR1M, KR1M, CL1M etc, here comes another genius idea from our government to anaesthetise the people. I simply don’t understand this scheme. With PTPTN being the biggest scam in this country, making some private colleges and universities rich by producing sub par graduates who instantly becomes a debtor, we now have another scam in the making. I wonder how this scheme suppose to help the people. As far as I am concerned, it will only create more debts which will take a life time to settle. Remember, the interest rate is BLR-1% during the study and BLR for the rest of the years ( the BLR now is 6.6%). The total repayment period is 15 years, excluding 5 years of education. You must start paying back the loan after 6 months of completing the study. The monthly repayment can range from RM 800 – RM 1300/month for 15 years, based on my calculation. For your information, house loan have a much lower interest rate of BLR-2%!
Are we creating a future generation who will be in debt for the rest of their life? Don’t forget the car loan and house loan that will come along the way. Why can’t the government invest more money to build more public universities and subsidise the education? Commercialisation of education should not happen. It will only make a few people rich in the expense of the rakyat who get poorer by the day.
Another interesting thing about this scheme is that it specifically mentioned postgraduate medical education! As far as I know, all Master’s students will be automatically given JPA scholarship on top of the monthly salary that they continue to get ( since they are working full-time during the course). So, why do they need the loan? Is it an election gimmick or is it a prelude for something that is coming? As you know, KPJ has started the first private postgraduate education for ENT which took in their 1st batch this month. I had written about this before over here and here. I was informed that 5 students has been enrolled, 2 being sponsored by MARA , 1 of their own chronic MO and 2 self sponsored. They will be given an allowance which will be equal to their last drawn pay! I think I had given enough views about this program in my above articles before. There is still a question hanging unanswered about their gazettement process and job after their Master’s. So, is this SPP1M a prelude for more private postgraduate education in the making? Knowing Malaysia, rumours will always come true!
Everyone, including the government knows that we will be having surplus of doctors by 2016/2017. So, the money-making business now is turning to postgraduate education. More money with low quality products is going to make our medical field equivalent to Indonesia. Their own people do not trust their doctors. Will the same scenario happen in this country 10-20 years from now? Almost all countries that privatised their medical education has gone to the drains. The same will happen to our beloved country. Unfortunately, I was sad to read the latest Berita MMA article written by the president of MMA. During the dinner with PM held in December 2012, our President has proposed that reputable private medical universities of long-standing should be allowed to run postgraduate courses!! He suggested that it should be done in the government hospitals but conducted by the private universities. I would only support this if we can have a common postgraduate exams like MRCP, MRCS etc. This exams should be conducted by the Academy of Medicine (AMM). When even our MMC could not conduct a common MQE exams, I can’t expect AMM to conduct such exams. It is a long way to go……….
The SPP1M scheme by the government does not seem to be receiving positive feedback from the people as mentioned here and below. Everyone with a correct state of mind knows that it is a 1CRAP scheme…………………….. vote wisely ………………….
Khaled: SPP1M scheme good for those in private institutions
By KAREN CHAPMAN and PRIYA KULASAGARAN
educate@thestar.com.my
“Even if they have Higher Education Fund Corporation (PTPTN) loans, these (loans) are capped to a certain amount. So a top-up fund would be very helpful for students to pay for the rest of their course or other expenses.
“It would also reduce the burden for those studying in institutions overseas,” he said.
Sammie Goh, whose son is studying in Australia while his daughter is studying locally, said the scheme appeared to be very flexible.
“It really helps the rakyat and with the Government’s support, I hope it will be easier to apply for the loans,” he said.
However, Amira Ali, who has four children, said she was not keen on it as she and her husband already had a house and car loan to pay for.
“Some of us are still paying for our student loans. What I would like to see is proper budgeting and management of funds to ensure it focuses on education,” she said.
Amira said the Government should find a way to ensure free or affordable education for students.
Students had a mixed reaction to the scheme but all agreed that the interest rate was too high.
Graduate student Siti Ayesha Azlan, 27, said the scheme was a good initiative to help students fund their tertiary studies.
“I would like to know if the selected courses for the RM100,000 loans will only be limited to science and technology fields,” she said.
IACT College student Putra Muhamad Ashraf said that student debt was a serious issue being faced by his generation.
“If some students are having a hard time paying back their PTPTN loans, I don’t know if a bank loan is going to make the situation any better.
“The amount of debt a student faces will affect their mindset when they graduate; they expect a higher pay in order to pay off debts but employers will say they are demanding too much.
“I think the PTPTN loan is still all right because you can still make a minimum payment of RM50 a month. But will this new loan allow such arrangements?” asked the 24-year-old.
Pagalavan's Avatar 
So this SPP1M is exactly like Dana Perubatan in AUCMS..the interest wise..
Yes, another way of making someone rich by making you poorer.
Pagal
My friend’s daughter graduated from private nursing college 8 months ago and is still jobless and saddled by 60k PTPTN loan.
You are right that PTPTN is a scam to enrich crony colleges and the students are royally screwed.
why did u apply ptptn in the first place. this ptptn issue is well known. you are just like people who borrow money from ah long then complain this and that. now you r trapped and just making noise. why dont u borrow from bank or your mom instead of ptptn.
Borrowing from bank is worst than PTPTN in terms of interest.
aipokovot,
Colleges were allowed to mushroom and take in a large number of students without proper planning by the Goman for the nation’s future needs. Through PTPTN, the colleges collected all the fees but the students were not fully informed that they might not get a job after graduating.
If they can get a job, paying back the PTPTN load should not be an issue but if jobless, how to pay back?
seriously aipokovot. thats a ridiculous comment.
if you think borrowing from the bank is any safer than borrowing from ptptn, you are an idiot.
do you know exactly how Bank Negara operates in this country?
Andy’s problem is legitimate.
I feel that aipokovot is actually Aaron. I will spam his comments from now onwards.
This is a trap designed specificly for medical students because there are not many science courses out there. The loan is with interest rate of BLR-1% and it is a TOP UP loan. I think the premier private medical schools is having a hard time to get students. With this loan, a student can get 150k from PTPTN and another 150k from this study loan. It is quite scary and depressing if one have to graduate with debt of 300k. This would take a lifetime and work your butt out as locum just to pay up these loan let alone buying your own properties or have a family.
Hidup sihat sepanjang hayat just became hidup berhutang sepanjang hayat… I am just glad that both my wife and I are gov scholars and no debts to pay. We feel sad for those colleagues saddled with debts even before they start working.
Ah yes, the fabulous 1-propagandas engineered to further enrich the 1%.
We are the 99%. Vote wisely.
many are saying to receive whichever money (loan money included) the government is giving before the country goes bankrupt.. and the loan will get defaulted..
Once the country goes bankrupt, all your money is gone and you don’t own anything! So, change has to be done . Come back and vote
Please educate me. What are the fees for students doing medicine in public universities? I was made to understand fees are minimal. Why then are students in public unis also eligible for PTPTN or SPP1M? Are they using the money for fees or to fund non education related expenditures, eg buying a flashy car and going on holidays?
Till last year, all students accepted to medical faculty in public universities were given full JPA scholarship. However, starting from last year, they were given an option between JPA and PTPTN!! It could simply mean that there will not be guaranteed job in the future for medical graduates.
What is the difference between JPA and PTPTN ?
JPA is scholarship, PTPTN is loan
Erm, just to clarify, there was an option for JPA loan or PTPTN loan in public uni medical faculty, at least when I entered 7 years ago.
At that time, PTPTN for public Uni of course, has a lower loan, about RM7k a year (full loan, as some may be given 50% or 25% loan)compared to private institution whereas the loan is usually RM 21k a year. (full loan).
JPA loan was RM 30k a year given automatically to public uni medicine, dentistry, pharmacy, while other allied health students have to apply for it.
This JPA “loan” can be converted to scholarship if you want to be bonded to the government for 10 years for medicine. For those medical students like me who refused to be bonded, we have to sign a letter to reject the offer instead. More than half of my batch of 230 students had rejected the loan and most opted for PTPTN. I of course, was under my parents scholarship. The whole course of 5 year duration costs RM15k including the RM 9k tuition fees ++ (gov subsidised more than 90% of the fees).
Of course, the loans have increased to cope up with inflation.
I feel that PTPTN can’t be blamed as they still offer a form of assistance for those who genuinely wants to pursue their studies. No loan institution can be blamed if you can;t find a job. Similarly, a businessman who took a loan from a bank to start a business can’t blame the bank if he/she fails to manage his/her business well and goes bankrupt. Of course, it can be improved by lowering the interests to truly help the needy and a more lenient payment scheme for those who can’t find a job for at least a year.(I do know a few of my neighbors who tend to stay laidback and refused to find a job and plan to default the PTPTN loan, with some claiming that it is free scholarship with no bond regardless of your results)
What needs regulation is the private institution who charges astronomical tuition fees and also the ethics of people who intend to default the loan from the start. If you are pointing the fingers at the government at being corrupt, those who defaulted their loans are equally as corrupt. A corrupt government stems from its roots, so change have to start from oneself.
agreed but the government via PTPTN is actually supporting the cronies. Mahathir in his memoirs has openly said that the reason he started the private colleges and universities is to reduce the complains from non-Malays who were denied places in public universities. So, it is a way to get the money back from “rich” non-Malays! You must understand that Dr M is a smart fellow who were thinking of many ways to take the money back from the non-malays to his cronies aka Malay businessman. that was his macro economics.
Oops, I had mistaken, the JPA loan was RM15k a year, not RM30k. With RM75k for 5 years at that time, not many were glad to be bonded 10 years along with other overseas JPA scholars from Aussie, Indonessia, Ireland etc who had siphoned almost ranging from RM200-1000k for their whole course. 😛
You cannot equate the PTPTN loans with businessman borrowing money. The way PTPTN loans are given out at the moment, is like a bank using public money to lend to businessman who may have no experience embarking on a venture that is sure to fail, and then do not attempt to get the money back from the borrower. You see any banks doing that?
@jk:
I think you failed to get the point that I’m implying that you can’t blame PTPTN for not being able to get a job in that sense. Of course, if that is the way you’re imply, those who argued so hard for total free education would bring even worse outcome by totally giving free money to those who do not value education.
The failure of PTPTN is the enforcement of its regulation to get back the money that it had lend to the students. In this case, it is not being equated to being lenient but being lazy to collect from those who are able to pay. One of its lauded move nowadays is of course the fact that those who had defaulted payment are not allowed to travel overseas. They got hold out in the airport, unfortunately, but this will make them think twice before going for an overseas vacation while defaulting on loans.
i did not miss the point.
The other failure of the Msian system, is the Non-meritocratic selection process, the IPTA based on racial quotas (yes, they still exist) and IPTS based on money.
Put that together with a loan system that does NOT means test applicants (whether financial or ability) you have the perfect recipe for businessman to use education to siphon money from the public purse and students.
Similar loans exist in other countries, including UK and Australia. The difference is, suitable applicants are selected, by a process of merit based assessment by the universities.
The basic problem with Msian education is, it is terribly skewed because of various policies meant for political mileage than for excellence and quality determine how things are done. The sins of the past (and present) comes back to haunt us now.
I am not sure of the exact fees, but even if it were RM6,000 per year, it would be a burden on a fair number of students and their families. Many students who take STPM do so because they cannot afford private college fees.
Nav, so true. Have been in that situation before, many times indeed in my younger days. When you are really broke, you don’t even have enough to put food on the table, education is of secondary importance. I still remember I was down to my last ringgit, yes, ONE ringgit. I could not pay my Form Six school fees for months and my hut rental (RM10/month) was in arrears.
Click to access Malaysian%20Undergraduate-V1_1_4(1).pdf
To stop them at the airport not allowing them travelling overseas is not good enough, Those who defaulted their payments should be traced via information of EA and EPF form submiteed by their employers and payments deducted accordingly from their salaries.Just like what income tax. This can be achieved by including this clause in the loan contracts.
I personally know someone (friend of a friend) who has a PTPTN loan and does not want to pay it back. Now lives in Australia with an Australian passport and is using her husband’s surname. Her excuse is Malaysia’s pro-bumi policies, which I think is a load of bollocks (the excuse I mean … though probably the policies too). Not paying back the loan denies other students a chance to access the loan. Have had half a mind to dobb her in … but am not the vindictive type myself though this does piss me off.
Hi, Dr Paga. Build more public unis, and admit deserving non-bumi! That is what I thought too when I first heard of this ! Probably they need to be taught on a quote from Confucious : “Give a man a fish and he will eat for a day. Teach a man to fish and he will eat for a life time”.
Dr Pag…talking about Post graduate medical courses……did you hear….it seems PIDC (Dental College) has been given approval to conduct specialist course…fees around RM600k. It seems the governement sponsored students will be taking up most of the seats. (I trust my info is correct)
Nothing new. As I said, another scam in the making
And about PTPTN loans….let me give you a piece of info….nowadays any cash loan is valuable…if you know how to put the cash to good use. A friend who could easily afford to pay his son’s medical fees….took the RM60k PTPTN three yrs ago….used it to pay downpayment for a condo in KL…and now the condo price had appreciated by almost 200k. And he is even smarter……he is taking up the govt’s budget annoucement offer….to pay up the full loan by sept 2013….at a 20% discount….thats another saving of 12k. THATS HOW MONEY MAVES MONEY.
I thought PTPTN nowadays pays directly to the college. They do not pay directly to the student anymore, that’s what I heard
They pay the school fees directly, and the remainder into the student’s account. And the payment is annually. There is no lump sum. Of course, theoretical stories stem up everywhere.
In my friend’s case…..they banked into the student’s account..
and here i am playing dead space 3..damn awesome game..btw,any word or news about the implementation of the mqe??what about those students who went to iso certified university??
No compulsory MQE. Only for those who graduate from unrecognised university
dear sir,
i am in confusion of choosing the best college fr my medic progrme…
i hve jus finished foundation…rite now i have this choices to choose from ukm-aucms,md aucms md,usu indonesia,aimst and ucsi md…im totally confused which md prgme to choose as i dun have any knowledge of this universities..my parents can only afford local md prgme sir…pls help me sir..thank u
Hello Rahul..I’m one of AUCMS student..Frankly speaking it is very easy for you to do medicine in AUCMS..But I won’t advice you to take offer..I did my foundation in AIMST anyway..it is very hard for AIMST to accept students from other universities..but you can give a try..I don’t know about UCSI..think carefully before you take any decision..read Dr. Pagal’s articles..thank you.
thank u vissakam ..how is the programe conducted in aucms??…local lecturer’s or foreign lectrurer who will be teaching us??
Welcome..foreign lecturers..for myself,I fell not happy with the way AUCMS conducted the programme..in every aspect.make sure you have the minimum requirement that needed to do medicine..SPM and foundation wise..if you planned to enter AUCMS,please investigate before you take the offer..
thank u for ur reply vissakam,,,..can u pls elaborate further in which aspect you are not happy in this AUCMS programme??…
A lot..for example..you can read my comments over here..https://pagalavan.com/education/for-future-doctors-general-misconception-of-being-a-doctor-part-2/
hmmm…visakkam..jus asking,what is the minimum pointer that is needed in AIMST for medic prgme??
in their website it is stated above 3.0 fr foundation…but i came to know that only 140 seats are available for mbbs..
You must have at least B in Mathematics,Biology,Chemistry and Physics..But I’m not sure the recent requirement..check with them..but it is hard for to enter there with other university’s foundation..they won’t even bother about STPM students..I have friends that have 3.33 and 3.55 in STPM but couldn’t get a place in AIMST..they ended up in AUCMS and Segi..but you can give a try..the seats very limited..200 seats..included JPA scholars..and plus with their foundation students..a lot..
thank u fr reply..sorry fr troubling u alot visakkam…..
No problem brother..
hai doctor paga,i am saiful …jus finished matrikulasi 2011..with gcpa of 3.1..currently studying in a local uni….i am very much interested in medicine field…..what is the best local uni that u wil rekomen me sir with this pointer???
Your CGPA of 3.1 should include biology, chemistry and either Mathis or physics. Furthermore you also need at least 5B in your SPM for the main subjects as mentioned in the minimum criteria.
You ca try IMU, Newcastle, Monash, PMC, UCSI etc
i mean wat here is that private local uni…tq…what is SPP1M?wil i be granted SPP1M loan if i want 2 apply for loan ??
Pls visit their website. Click on the word above.
Great post.