KUALA LUMPUR — Permodalan Nasional Bhd (PNB) is to open Amanah Saham Bumiputera (ASB) accounts of RM50 each for 100,000 new students who continue their higher education.
Primer Minister Datuk Seri Anwar Ibrahim who tabled Budget 2025 in Parliament today, said the accounts will be opened free of charge under the Program Celik Madani by PNB.
Other measures in the budget to boost education savings include an extension of the individual tax exemption for nett savings in the National Education Savings Scheme (SSPN) for another three years.
This is to encourage the public to save for their children’s higher education, said Anwar, who is also finance minister.
Additionally, Putrajaya will also expand the criteria for students at public universities to receive matching funds of up to RM5,000 for savings made in SSPN for two years, under the Geran Padanan Insan (Gapai) scheme.
Budget 2025 proposes that the criteria for eligible students be expanded to those who come from households earning RM6,000 from RM4,000 previously. — October 18, 2024