1MCA Education Loan Scheme gives out RM30,000 to deserving students
SEVERAL youths from Subang Jaya recently received education and micro credit loans during a presentation organised by Kelana Jaya MCA.
Kelana Jaya MCA chief Ong Chong Swen witnessed the presentation of RM30,000 from the 1MCA Education Loan Scheme to Jocelyn Fatima Burnard of USJ1, who has received an offer letter to study at the Medical Faculty of Sri Wijaya University, Indonesia.
Ong said the 1MCA Education Loan was open to needy students of all races who want to pursue a tertiary education in a national university or private university college. “The condition is the course must be over one year and is recognised by the Government,” she said.
“The first five years of the study loan, supported by MCA’s investment arm Huaren Holdings, is interest-free; thereafter the interest rate is between 6.8% to 7.8%.
“The 1MCA Education Loan has approved a total of RM5,525,000 up till September 2012, which has enabled 159 qualified applicants to continue their undergraduate or post-graduate studies.
“Selangor has the most number of successful applicants with 43 applicants and a study loan value amounting to RM1,560,000, followed by Johor with 31 applicants and a study loan value amounting to RM990,000.”
Ong has also helped two applicants get the 1MCA Micro Credit Loan Scheme for Youth.
Hon Yeh Ting of SS12 received RM20,000 to expand his office lighting business while Chan Man Soon of SS7 received RM10,000 to expand his wholesale stationery business.
“A total of 470 multi-racial individuals managed to successfully obtain grants up till October 2012 under the 1MCA Micro Credit Loan Scheme for Youth.
“The total value of the loan is RM8,065. Johor leads with 115 successful applicants followed by Selangor with 81 applicants.”
During the cheque presentation, Ong reminded Jocelyn’s mother Anne Maria Ambrose Le Roche to encourage Jocelyn to come back to serve the country after completing her studies.
As for Hon and Chan, Ong encouraged them to have confidence in their business abilities, and, if possible later, to help others in the community like how Kojadi of MCA was doing for them.
Present at the ceremony was Kojadi honorary secretary Loh Seng Kok, Kelana Jaya MCA Youth chief Lee You Hin, Kelana Jaya MCA Youth deputy chairman Chen Siang Hooi, Kelana Jaya MCA Youth vice-chairman William Cha and Kelana Jaya MCA committee member Simon Chan.