The National Higher Education Fund Corporation (PTPTN) requires a whopping RM5 billion a year to ensure those qualified to pursue higher education are not deprived of the opportunity, Higher Education Minister Mohamed Khaled Nordin said.

NONE He said the amount was required following an increase in the number of students pursuing higher education.

"At the moment, the allocation is RM3 billion but the ministry foresees that the amount will no longer be enough by 2013," he told reporters after opening the ‘Real Undergraduate Conference’ in Putrajaya today.

He said the amount was also needed as the loan repayment by students was made in instalments and not in lump sum.

Khaled however did not say how much of the loans were not repaid.

No more PTPTN for the rich

"Now the ministry is studying how to make the PTPTN sustainable... to ensure loans are given only those who really need them," he said.

He added that well-to-do parents should take the responsibility to finance their children's education and not rely on the government alone.

"The government has provided the infrastructure and other facilities. Those who are rich should be able to finance their children's education," he said.

- Bernama