PETALING JAYA: More than 700 of the 1,062 students who received loans through the Angkatan Koperasi Kebangsaan Malaysia Berhad (Angkasa) Foundation successfully turned their education funding into scholarships involving an allocation of about RM8.5 million.
Angkasa president Datuk Abdul Fattah Abdullah said the amount involving 70% of all students receiving the loan was from 2000 to 2019, and the total cost of education funding was RM13,951,750.
“The students who successfully turned the loans into scholarships are those who achieved CGPA (Cumulative Grade Point Average), First Class, Second Class upper and Second Class lower according to their respective university recognition.
“For First Class achievers, they (recipients) did not have to repay the financing and received full scholarships, while for the Second and Upper Second Class, they received 60% and 40% of the total scholarships respectively,“ he said.
He was met by reporters after launching the ‘Angkasa Foundation Session 2019/2020 Student Portal and Submission of Education Funding Documents’, here today.
Abdul Fattah said the funding of the Angkasa Foundation being turned into scholarships was a reward for the students who achieved outstanding results and the policy also motivated students to strive to be at the highest level in their field of study.
He said 148 students from more than 800 applicants received the Angkasa Foundation education funding this year totalling RM1,482,250. The foundation would increase the allocation by RM500,000 next year and target more than 200 students for financing for the next study session.
“This is something Angkasa can do because we are able to increase allocation and secondly we take into account the good response and demand especially among the cooperative members,“ he said.
The student portal provides students with faster and easier access to deal with the Angkasa Foundation such as reviewing payment status, updating personal information and submitting exam results each semester.
Angkasa Foundation provides flexible financing and scholarships to cooperative members, their children and Angkasa staff who pursue full-time or part-time education at every level of higher education in public and private institutions of higher learning in the country. - Bernama
