GEORGE TOWN: A total of RM2.5 million has been disbursed to 138 applicants of the 1MCA Education Loan Scheme in Penang since February last year.
Koperasi Jaya Diri (Kojadi) director Datuk Dr Loh Hock Hun said, applications for the scheme in the island were not so encouraging due to lack of promotion.
“We received cold response for this education loan scheme, as there was a lack of awareness among Penangnites on the scheme which was introduced in 2011,” he said.
He was speaking at a news conference after handing over cheques totalling RM100,000, to three successful applicants of the 1MCA Education Loan Scheme at the state MCA office here yesterday.
Of the RM2.5 million given to the applicants, 94 per cent were Chinese, while Indians and Malays made up four and two per cent, respectively.
“Applications from the Malays and Indians, especially in the island’s mainland territory, Seberang Prai, were not encouraging as the loan scheme was presumed to be for Chinese only,” said Loh.
The loan scheme is open to all Malaysians, regardless of ethnicity as it is in line with the 1Malaysia concept, he added.
An applicant, Tan Kok Boon, 48, who received a RM30,000 loan, said it would assist in his 19-year-old son, Tan Yi Chou’s education.
“My son is pursuing his first year degree in Green Technology at a university in Ireland. This loan will definitely ease our financial burden,” he said.
Sim Saw Im, 47, who received RM30,000 from the scheme, will use the money for her son, Fong Jia Jin, 20, who is pursuing a multimedia course at a college in Kuala Lumpur.
“The loan scheme is very meanigful for me, as this year would be my son’s final academic year,” she said, adding the scheme benefited youths who faced financial difficulties in pursuing their studies. — Bernama