EPF for tuition fees

Is this due to the lack of planning by parents OR are education costs today higher than ever before OR is there a shortage of places for a student to receive quality education. When I say quality, it means that the college or university that the kids go to have qualified lecturers, not just any tom, dick or harry who just finished his diploma or degree and resorted to lecturing as a last choice.

15,000 withdrew EPF savings for education

KUALA LUMPUR: More than 15,000 members applied to withdraw their Employees Provident Fund (EPF) savings to finance their own or their children’s education.

This amounted to RM87.1mil in the third quarter period between July and September this year, an increase of 51.5% from the RM57.5mil withdrawn in the previous quarter.

This increase is attributed to a surge in new intake into institutions of higher learning, as well as EPF’s effort in expanding its education withdrawal to include diploma programmes.

“The education withdrawal aims to give members the opportunity to better themselves and earn a better income so that they are able to save more for their retirement years,” said EPF chief executive officer Datuk Azlan Zainol.

Withdrawals by members turning 50 and 55 fell slightly in the quarter.

However, housing withdrawals grew by 16.5% to RM1,960.2mil, over the previous quarter’s figure of RM1,682.3mil. – Bernama

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