Daily Express Subscriber
Sign in to your account.

Kota Kinabalu: Sabah has so far received National Education Savings Scheme (SSPN) deposits amounting to RM689.84 million, with more than 500,000 accounts opened since it was introduced in 2004 up to June 30 this year.

Deputy Minister of Higher Education, Datuk Mustapha Sakmud, said this is a proud achievement and proof that the support of Simpan SSPN depositors remains strong.

“I have been informed that since 2004 the National Higher Education Fund Corporation (PTPTN) has focused on the mission of encouraging savings to reduce society's dependence on loans. Alhamdulillah, over more than two decades, Simpan SSPN has continued to record sustainable performance every year and gained the confidence and trust of the public.

“I hope that Simpan SSPN will become the best choice for parents to save consistently for a guaranteed future in education. 

“Take the opportunity today to start saving with Simpan SSPN, which offers various benefits and privileges. Savings for education is a form of long-term investment that ensures the future of children.

”The development of the country's education does not only depend on the provision of infrastructure and quality educators, but also requires strong support from the aspect of effective financial planning.

“Education funds such as the National Education Savings Scheme (Simpan SSPN) play an important role in ensuring access to education is not affected by financial constraints," he said at the Anak Warisan Simpan SSPN 2025 carnival (Kawan) organised by PTPTN, Saturday, at the Exhibition Hall in Complex Karamunsing.

According to Mustapha, since 2022 until June this year, about RM77.01 million had been allocated by the State Government through the Deputy State Secretary Office (Special Duties) for incentives for programmes such as Bistari, Budi and Bakti.

“It includes contributions in the form of Simpan SSPN accounts for several programmes, namely the Birth Incentive under the State Education Fund Compassionate Assistance (Bistari) with an allocation of RM4.12 million.

“This incentive targets babies born in Sabah with a contribution of RM100.

“In 2025, this assistance will also be extended to Year 1 pupils in primary schools, with an estimated 25,000 students set to receive this contribution.

“The One-Off Cash Assistance for IPT Registration (Budi) with an allocation of RM49.89 million is to help Sabahan students from the B40 and M40 groups who have received offers to further their studies at local and international higher learning institutions, with a contribution of RM1,500 for Foundation/Matriculation/Diploma-level programmes and RM2,000 for Degree-level programmes, and the Special Examination Cash Assistance Incentive (Bakti) with an allocation of RM23 million.

“This assistance is given to students from the B40 group who will be sitting for major examinations such as SPM, STPM and STAM, with a contribution of RM200.

“Therefore, I urge the State Government, government agencies and the private sectors to make Simpan SSPN the main choice for providing incentives to employees, students and others,” he said.