JOHOR BARU, MALAYSIA: The Government has allocated RM3bil(S$1.2612 billion) for loans under the National Higher Education Fund Corporation (PTPTN) despite the current economic downturn.

Higher Education Minister Datuk Seri Mohamed Khaled Nordin said these loans were available to the 163,779 new students expected for the July intake into public and private universities nationwide.

'The Government is continuing with its efforts in assisting students even during the bleak economic climate.

'A total of 10,000 scholarships will also be granted by the Public Service Department, including 2,000 places for studies overseas,' he told reporters after launching the Higher Education Carnival here yesterday.

Mohamed Khaled also said that there were 128,295 places available in public higher education institutions, for which the Government received 400,996 applications.

'Out of this, 40,559 places will be allocated to STPM and matriculations holders, 43,216 to polytechnic students and 28,000 to SPM holders,' he said.

Mohamed Khaled also urged graduates, especially those who were still unemployed, to apply to further their studies for Masters and PhD degrees at any of the 20 public universities and three private universities nationwide.

He explained that the Government had allocated RM50mil in the recent mini-Budget for those wishing to pursue post-graduate studies, with 10,000 places reserved for the Masters programme and 500 at PhD level.

'Graduates should grab this opportunity as places are limited. It is a golden opportunity that must not be missed,' he said.