The ringgit’s rise against the US dollar eases financial burdens for students abroad, optimising education funds and living allowances.
KUALA LUMPUR: The ringgit’s climb to its highest level in over seven years against the US dollar is delivering major benefits for Malaysia’s education sector.
This favourable exchange rate significantly reduces costs for Malaysian students studying abroad, easing financial planning for parents and scholars.
Permodalan Nasional Berhad (PNB) states that a stronger ringgit offers a distinct cost advantage for foreign-currency expenditures like international education.
“In a climate of ringgit strength, overall financing costs, encompassing both tuition fees and living expenses, can be optimised,” PNB said.
The fund manager added this allows education funds to be deployed more efficiently, delivering greater value from the national investment in human capital development.
PNB has invested a total of RM462 million in education sponsorship programmes over three decades, benefiting 5,230 recipients.
Yayasan Perak education manager Megat Zarul Ekram Rusni said the currency’s strength is a significant advantage for its overseas students.
He explained a favourable rate lowers initial expenses like fees and flights, allowing students to begin their studies with better planning.
“This development allows the one-off cash aid from the state government via Yayasan Perak to stretch further,” he said.
He added it ensures every ringgit allocated provides more efficient and high-impact access to a global education.
Parent Azra Karim, 49, said the stronger ringgit directly benefits her twins studying abroad on MARA scholarships.
“They are now able to enjoy a little more from their living allowance. It makes a real difference,” she said.
The ringgit recently firmed past the significant psychological threshold of 4.00 against the US dollar.
