Attention Students! Here’s How Budget 2022 Will Benefit You

Whether you are a new student or a returning one, the Covid-19 pandemic has undoubtedly brought about a sense of uncertainty.

However, as we have started to slowly recover from the impact of the virus, Budget 2022 has ensured that students will have some form of certainty as they return to education.

With it being the biggest package ever worth a whopping RM332.1 billion, Budget 2022’s long list of incentives and financial aid will ensure that students get the aid they require. Here’s what you as a student can expect:

1. Discounts for PTPTN repayments

As a student, one of the biggest burdens shouldered is the repayment of loans which have helped to assist students with being able to access education.

As announced by the Ministry of Finance, one of Budget 2022’s initiatives includes a discount on the repayment of your Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) loans.

This tiered discount model includes a:

• 15% discount when paid in full
• 12% discount when 50% of outstanding balance repaid in a single payment
• 10% discount if paid through salary reduction/scheduled debit

2. Tablets for B40 tertiary students

The pandemic has highlighted the need for distance learning and how smart technology will be a mainstay in education for the foreseeable future.

Although many students are blessed to have smart devices such as a laptop, tablets or smartphones, those who aren’t able to afford such devices are left behind.

This is why the government through PerantiSiswa Keluarga Malaysia, plans to provide tablets to all dependents of Bantuan Keluarga Malaysia (BKM) recipients enrolled in courses equivalent to a diploma or SKM4 and above in a public or private institution of higher learning.

3. Cheap public transport passes

For many school students, public transport is the main form of transport as they return to school. That is why the government has decided to continue to implement the MyRail5 rail pass for KTMB services for students.

The pass will only cost RM5 monthly and is applicable for students from Standard One up until Form Six.

4. Got milk? Daily milk for primary school students

Budget 2022 has also factored in the needs of younger students such as those in primary school.

The Supplementary Food Programme (RMT) will see primary school students being provided with milk daily from local milk producers.

Do I get assistance if I’m a teacher or a parent?

Meanwhile, Budget 2022 has also taken into account the needs of parents as well as teachers as students have returned to school. These come in the form of financial assistance such as:

1. Early schooling assistance

This initiative aims to reduce the financial burden on parents and guardians in preparing for face-to-face school reopenings by offering a RM150 one-off early schooling assistance.

2. Special Incentive for Teaching Aids

Aside from parents, teachers under the Ministry of Education will also receive a special incentive for teaching aids which comes in the form of a RM100 one-off assistance for teachers under MOE.

This would be used to purchase teaching aids for the 2022 school year.

What happens once I’m done with my studies?

Nearing the end or have completed your studies? Don’t fret! Budget 2022 has also introduced initiatives to assist young job seekers by providing skills training to increase employability.

The government will be introducing upskilling as well as reskilling programmes to assist job seekers in their search for employment. Some of the initiatives included under this program are:

• HRD Corp
• Koridor Wilayah – IRDA, ECER, RECODA
• MDEC GLOW

There is a lot more to Budget 2022, so check out the Budget 2022 website to get more information and read more on how it could help make 2022 a better and more certain year for those in education.

How do these initiatives benefit you? Let us know in the comments.