ALOR GAJAH, Feb 21 — Students of higher learning institutions (IPT) who carry out small businesses are encouraged to apply for micro-credit financing through an allocation of RM20 million under the KPT-MEDAC Siswapreneur programme launched early this year.

Entrepreneur Development and Cooperatives (MEDAC) deputy minister Datuk Mas Ermieyati Samsudin said so far only 14 applications had been received, with seven of them having been approved until last Feb 10, involving a total financing of RM21,000 under the Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN Nasional).

She said the amount of loan approved was between RM1,000 and RM5,000 for each student with interest of as low as four per cent.,

She cited an example of a student at the Masjid Tanah Community College here who was able to earn between RM40and RM500 a month selling burger.

"Hence, the student is not only able to ease the parents’ financial burden, but also a motivation to make the business bigger and become an entrepreneur ,” she said when met by reporters after handing over Samsung Tablets and Sim Cards to students here today.

Mas Ermieyati said she was aware of some parents and guardians do not allow their children who are studying to apply for the loan and as such, MEDAC will hold a dialogue session with the parents and students to explain the matter.

She said the programme was implemented in collaboration with the Ministry of Higher Education (MOHE) and involved 15 selected higher education institutions, comprising four universities and 11 polytechnics and community colleges .

She said the programme would be extended to other institutions of higher learning upon request. — Bernama