MCA launch 1 MCA Education Loan Scheme to help students from low-income families

MCA has launched the 1MCA Education Loan Scheme to help students from low-income families pursue their higher education locally and abroad.The RM30mil fund was for university students wanting to pursue undergraduate and postgraduate studies in an approved institution of higher learning, MCA president Datuk Seri Dr Chua Soi Lek said.The scheme is open to all students, irrespective of race in the spirit of 1Malaysia.The interest for the first five years will be borne by MCA,he said in his speech during the launch of the scheme at the party's headquarters yesterday.

He hoped all Barisan Nasional component parties would practise the same concept that funds should be for students of all races as long as they fulfil the criteria required.Those undertaking undergraduate courses can apply for loans of up to RM30,000, while those who want to pursue postgraduate studies can apply for up to RM50,000.Tentatively, we have set a target to give out loans to 200 students,Dr Chua said.He said MCA had set up the scheme as many applicants, who applied for study loans under the Chang Ming Thien Foundation, had been rejected due to the limited funds although they were qualified, adding that the loan scheme was a collaboration between MCA and Koperasi Jayadiri Malaysia Berhad Kojadi.

Dr Chua also reminded successful applicants to repay the loans so others could benefit from the fund.Information on the loan scheme can be obtained at www.mca.org or call Kojadi at 03-2161 6499.On another matter, Dr Chua said Barisan component parties had approached MCA for a swap of certain seats in anticipation of the next general election.However, he declined to name the seats, saying it was important that Barisan formed the Government.He was responding to MIC president Datuk G. Palanivel's statement that the party was willing to swap seats in the next election.