KUALA LUMPUR: To help more underprivileged students further their studies, the Selayang MCA donates RM320,000 to the Tunku Abdul Rahman University of Management and Technology (TAR UMT) Student Loan Fund, as the first MCA division to support the interest-free student loan fund.

Selayang MCA chairman Chan Wun Hoong said records showed the university received donations from companies and individuals but not from a political party.

“We hope by taking the lead to donate, other MCA divisions will emulate the practice to help poor students.

“We don’t want to see students denied of the opportunity to further their studies because of poverty,” he said.

Chan led the Selayang MCA committee to hand over the donation to TAR UMT Chairman Tan Sri Liow Tiong Lai and president Prof. Ir. Dr. Lee Sze Wei.

Former Selayang MCA Chairman Datuk Goh Ah Ling and Chan consulted the members before deciding to donate to TAR UC.

The donation has been collected from property rents, fund allocation from headquarters, and members’ annual subscription fees for the period from 2018 to 2023.

Chan said TAR UMT’s interest-free student loan fund was set up in 1979, offering RM57 million study loans to 15,000 needy students as of 2022.

It is estimated that a student needs about RM100,000 to complete four years of study at a university.

Loan repayment in instalments will start five years after loan disbursement.

The number of students requiring financial aid increased drastically during the Covid-19 pandemic, said Chan.

“Take the year 2022 for instance, the university received a total of 800 applications for student loans but could only grant 200 due to fund shortage.

The TAR UMT alumni council chairman and board of governors member Tan Sri Chan Kong Choy started to raise fund for the loan fund this March.