KUALA LUMPUR: The Higher Education Ministry will receive an increased allocation of RM18 billion in 2025, up from RM16.3 billion this year.
To enhance access to higher education, the government has set aside RM4 billion for scholarships, loans, and education allowances.
Government-linked investment companies (GLICs) and government-linked companies (GLCs) are committed to ensuring that at least 50 per cent of these scholarships are allocated to students from lower and middle-income families.
The National Higher Education Fund Corporation (PTPTN) has earmarked RM500 million in education financing specifically for students pursuing Science, Technology, Engineering, and Mathematics (STEM) courses at public institutions.
Additionally, the government plans to extend individual tax relief for net savings in the National Education Savings Scheme (SSPN) for another three years.
Under the Ihsan Matching Grant Initiative (Gapai), eligibility for matching grants of up to RM5,000 for SSPN savings accounts will be expanded to benefit families earning up to RM6,000, an increase from the previous limit of RM4,000.
Permodalan Nasional Berhad (PNB) will also launch the Madani Literacy Programme, which offers free opening of Amanah Saham Bumiputera (ASB) accounts worth RM50 for 100,000 new students entering higher education.