Kuala Lumpur – The Ministry of Higher Education (MOHE) in Malaysia is set to offer loans to final year students for enrolling in professional certification programs starting next year. This initiative was announced during a session of the Dewan Rakyat today.
According to BERNAMA News Agency, the government has allocated a fund of RM15 million for this purpose, aiming to enhance the marketability of graduates. The announcement came as the minister wrapped up the debate on the Supply Bill 2024 at the committee stage for the ministry.
Highlighting the challenges faced by graduates in securing employment, Minister Mohamed Khaled referred to the official data from the Graduates Tracer Study, which indicated that 29,000 graduates did not secure jobs six months after graduating in 2022. However, he also noted a decrease in the graduate unemployment rate, which fell to 3.7 percent in 2022 from 4.1 percent in 2021.
In addition to the loan program, the minister revealed that MOHE has identified various strategies to enhance the excellence of local universities. These strategies include continuous investment in research and a focus on not solely relying on international rankings to determine university excellence.
The Dewan Rakyat subsequently approved the estimated operating and development expenditures for MOHE, which amount to RM16,339,467,900 in the 2024 Budget. This approval marks a significant step towards improving higher education and graduate employability in Malaysia.
The sitting of the Dewan Rakyat is set to continue tomorrow.