15 things you need to know about the Education Budget 2019
by StudyMalaysia.com on November 28, 2018 | Top Stories
- The Education Ministry receives the largest funding allocation for next year at RM60.2 billion, or 19.1% of the entire budget.
- Out of the total RM60.2 billion allocation, RM2.9 billion will go to providing aid for students from low-income families in the form of food supplies, textbooks and cash assistance.
- RM652 million will be allocated for the upgrading and maintenance of schools, compared to RM615 million in 2018.
- RM250 million will be allocated to national schools, with RM50 million each allocated to Chinese and Tamil national type schools, full boarding schools, Mara Junior Science Colleges and government assisted religious schools.
- Registered pondok schools will have an allocation of RM25 million, national type secondary schools RM15 million and Chinese private secondary schools RM12 million.
- RM100 million will be allocated to rebuild dilapidated schools nationwide.
- RM206 million will be allocated to develop and prepare training programmes at polytechnics and community colleges.
- RM30 million will go towards setting up a Technical Vocational Education and Training fund to create a more competitive environment as well as training programmes to fulfil the industry's needs.
- Another RM20 million will be used to increase the competency among the youth through the TVET Bootcamp Programme.
- Private higher learning institutions will receive RM400 million to fund research and development programmes.
- Student loans and scholarships worth RM3.8 billion have been allocated, out of which RM2 billion will be allocated to Bumiputera students sponsored by MARA.
- Those with PTPTN loans have the option to repay their loans through deductions of between 2% and 15% from their salary, based on their monthly income rate.
- Companies that assist its staff in settling their PTPTN loans by the year ending 2019 will receive a tax break.
- Individual income tax breaks for the National Education Saving Scheme will be increased from RM6,000 to RM8,000.
- All remaining PTPTN loans for borrowers aged above 60 who are earning less than RM4,000 a month will be waived. This will benefit 350 borrowers at a cost of RM4.2 million.
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