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Published by Afterschool.my on Aug 25, 2016, 10:59 am
The tertiary education funding system historically was applied during the Islamic caliphate.
Harakah reports that the current loan mechanism for students via PTPTN is no longer the best way to fund higher education.
Putting the aspects of debt aside, the "extra" fees incurred in paying off debt is seen as a burden to graduates of tertiary institutions in this country.
During the PAS Youth conference recently in June, a waqf system was proposed to be core to the financing of higher education.
The National Education Waqf Fund Corporation, or Perbadanan Tabung Waqaf Pendidikan Nasional (PTWPN) was put forward as an alternative to replace PTPTN.
The University of Al-Qarawiyin in Fes, Morocco built in 245 AH was the first university built on a similar waqf system, followed by Al-Azhar University in Cairo, which was built in 359 AH.
The waqf system for higher education was presented to not only avoid incurring extra debt burden after graduation, but also to provide ample opportunities for students to continue their education.
At the same time it aims to foster a high sense of responsibility among all parties in order to form human capital which is significant to National development.
The political party has proposed for the PTWPN waqf system to be launched to the public on the basis of consensus and generated by all parties on the principle of "fastabiiqul-khairat".
Get more info about PTPTN here.
Read about PBBU Yayasan Bank Rakyat here.
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