The opposition's plan to introduce free tertiary education as stated in their election manifesto will be difficult to realise as it will have a big implication on the government's finances.So the logic of students taking PTPTN education loan is to give profits to private education sector since "private sector needed funds"? No wonder so many private colleges and universities are mushrooming and doing brisk business for the past 10 years. Thanks to PTPTN?
Among others, the opposition coalition hopes to scrap fees for public university education, give subsidised fees to private university students, provide cost of living allowance to public university students and abolish the National Higher Education Fund Corporation (PTPTN).
In reality, the abolishment of PTPTN will cause the government to owe financial institutions RM26.9 billion and funding costs of RM10.8 billion.
Repayment of RM3.8 billion received until Jan 31 this year would also need to be returned to borrowers.
Former Education Director-General Tan Sri Alimuddin Mohd Dom said the private sector needed funds obtained through fees imposed on their students to run their institutions.