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New loan scheme for SPM-leavers

Published by Afterschool.my on Jul 17, 2012, 09:34 pm

  • The Human Resources Ministry will propose a new loan scheme for SPM-leavers going for vocational courses at skills training institutes to reduce the rate of non-performing loans by students who completed their studies
  • The rate of repayment loans from the Skills Development Fund Corporation (PTPK) is only 53% - with about RM500 million outstanding in loan repayments according to Datuk Seri Dr S. Subramaniam
  • "We are trying to improve the process - every year we get RM100 million (in training funds) for SPM-leavers and an additional RM100 for workers, but this is not enough, every year we rely on additional Government funding," he said.
  • The Government needs to spend RM400 million annually on SPM-leavers alone to produce sufficient skilled workers for the industry's demand.
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