PTPTN is the Golden Goose for the Owners of Private Universities or Colleges
If you are not the Millennials, I bet that you still remember there was a time where private universities and colleges mushroomed, in just a few year time.
The sudden rise is not without a good reason, and the good reason is - PTPTN.
The PTPTN money, through the expensive tuition fee, flow indirectly into the directors of private uni or colleges. These directors get the money, graduates get the debt.
Do you think these directors have no close relationship with the ruling parties? Think about it. Just think in this way - do you think it's easy to get licence to establish a education institution?
With such expensive tuition fee, yet these private uni/colleges offer below industry standard quality to students. The syllabus is always far behind what the real world is demanding. As a result, a lot of fresh grads acquired their precious degree - a degree that made them struggle to get jobs or to be treated as cheap labor, earning 1.8k or 2k per month.
Well, grads have settled their tuition fee for sure. Else they won't even be able to get their degree. Now business deal between uni/college and student is done. Have these uni/colleges ever followed up with their alumni? When their alumni were having trouble to get jobs or were suffering from low salary, have these uni/colleges ever offered any help? Did they even care? Guess what, these uni/colleges raised their tuition fee every year! The owners or directors of these uni/colleges continue to enjoy strong growth in their wealth.
Thanks to PTPTN, private high learning industry has now become the Big Cake in Malaysia. No wonder more and more institutions are joining the game. Where else to earn such a good money?