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211,354 SSPN accounts in Sabah with RM133m
Published on: Monday, September 09, 2019
By: Larry Ralon

KOTA KINABALU: The National Education Saving Scheme (SSPN) has been receiving a very encouraging response from people, including in Sabah where until now 211,354 accounts with deposits amounting to RM133.5 million have been opened since its introduction in 2004. 

Introduced by the National Higher Education Fund Corporation (PTPTN), SSPN is to encourage people to save for their children’s education. 

As of July 31 this year, it has 4.2 million SSPN accounts nationwide with total deposits of RM5 billion.  

Chief Minister Datuk Seri Mohd Shafie Apdal, who is pleased with this and especially the great response from the people in Sabah, nevertheless feels the figure for the State is considerably small compared to the State’s population.  

“I urge parents who have yet to make education financial planning to start saving from today,” he said when opening the State-level SSPN 2019 Roadshow programme at Oceanus Waterfront Mall, here. His speech text was read by State Rural Development Minister Datuk Ewon Benedick.

Shafie, who is also State Finance Minister, said the proactive effort by PTPTN to transform the mind-set of all Malaysians to save for education was very praiseworthy and needed to be supported by all walks of the community. 

“The Sabah Government will provide assistance and collaboration to PTPTN to realise its aspiration to have more parents saving for their children’s higher education,” he said. 

The roadshow programme, which started last month, is meant to make saving for the purpose of higher education through SSPN as a culture, apart from promoting the product. In Sabah, it will be held at 11 different locations.

During the event, Ewon, representing the Chief Minister, also presented SSPN-I savings account to 1,000 underprivileged students in 25 parliamentary constituencies in Sabah, which is meant to assist them, apart from encouraging them to save money for education. 

PTPTN selected the recipients with the co-operation of the State Education Department. The contribution in the form of SSPN-i accounts is part of PTPTN’s corporate social responsibility gesture.  

Assistant Education and Innovation Minister Jenifer Lasimbang and PTPTN Chairman Wan Saiful Wan Jan were also present.   

Meanwhile, National Higher Education Fund Corporation (PTPTN) Chairman Wan Saiful Wan Jan said Sabah could follow in the footsteps of other states in encouraging parents to start saving through the SSPN for their children’s higher education.

He said the State Government could also encourage parents to save in SSPN by throwing in some incentives such as prizes in the form of an SSPN account for outstanding students in the UPSR, PT3, SPM, STAM and STPM. 

“The State Government could establish a Sabah Education Savings Fund for new births, as implemented by Kedah, Perak, Melaka and Terengganu,” he said.

He said the four states presented RM100 to RM200 to each new birth in the form of an SSPN account.

“PTPTN believes the State Government would consider the idea in the interest and wellbeing of the people in Sabah besides encouraging the latter to financially prepare earlier on for their children’s higher education,” he said.

In another development, Wan Saiful said PTPTN had approved education loans to 191,855 students in Sabah involving RM3.3 billion as of July 31.

On average, 11,000 children in Sabah get to pursue higher education yearly through an annual allocation of RM180 million, he said.



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