16th April 2020 - 5 min read
During the reveal of the Prihatin Economic Stimulus Package at the end of March 2020, Prime Minister Tan Sri Muhyiddin Yassin had announced an RM200 one-off cash aid for students in higher education institutions, including those in matriculation, community college, polytechnics, as well as private and public institutions.
Following that, the aid is expanded to also include students who are pursuing their education in Form Six, diploma courses, and other equivalent qualifications. These encompass students in institutions under the Human Resources Ministry, Youth and Sports Ministry, as well as Majlis Amanah Rakyat (MARA).
The Finance Ministry has released a list of frequently asked questions (FAQ) regarding the aid, which you can find below.
Every qualified student will receive a one-off cash assistance worth RM200.
To qualify for the assistance, students must be a Malaysian citizen and an active full-time student on 31 March 2020 as per the following:
It is estimated that 1.5 million students will benefit from this assistance, consisting of 1.2 million university and college students, 100,000 Form Six and matriculation students, and 200,000 diploma or TVET students.
No. This assistance is only for students studying in Malaysia.
Every student can check their respective eligibility through officers under the academic admittance affairs department, student affairs unit, or student development units at their respective higher education institutions.
Contact the academic admittance affairs department, student affairs unit, or student development units at their respective higher education institutions to update the following documents/details:
The assistance will be transferred to qualified students through their respective bank accounts starting from the end of April by the respective institutions.
Assistance will only be transferred into the student’s bank account. Students must open a bank account if they don’t have one.
Students can contact the coordinating officer at the academic admittance affairs department, student affairs unit, or student development units at their respective higher education institutions.
Only students who are active up to 31 March 2020 qualify for this aid.
Yes, they are qualified for this assistance.
Yes. This statement refers to students who are studying and active at their respective higher education institutions on 31 March 2020.
Students can contact the academic admittance affairs department, student affairs unit, or student development units of their respective higher education institutions.
No, because they are no longer active in their respective institutions.
No. Students must have their own bank account.
Yes, students can open an account at any local banks. Any account created with local banks, whether Islamic or conventional, will be accepted. Tabung Haji accounts and Amanah Saham accounts are not permitted.
Students can contact the academic admittance affairs department, student affairs unit, or student development units at their respective higher education institutions.
(Source: The Star)
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world
Comments (0)