The ultimate goal of a good education is to enable an individual to acquire essential skills and knowledge, learn social norms, and cultivate the ability for sound judgement and reasoning so they can navigate life and contribute to society once they become older.
Quality education is the bedrock of a progressive and inclusive society, as it establishes not only how we live together as a community by learning how we communicate with each other, but also gives us the key to eradicate poverty, while empowering equality and social mobility, giving people the chance at better lives.
Despite an increase in the number of tertiary and higher education institutions, challenges remain in ensuring that every child and young adult is given access to and completes a good education, especially for B40 households (families with a household income of not more than RM4,630), as a result of a myriad of social and economic factors.
Statistical data shows that since 2013, a yearly intake of students in bachelor's degree programs in Malaysia's public universities amounted to more than 85,000 per annum. Despite the high number of enrolments, not all tertiary students were able to graduate, including students from lower income background.
In 2018, it was estimated that 4.1 million households belonged to the B40 segment. According to news reports, the absolute poverty figure in Malaysia rose to 8.4% in 2020 (2019: 5.6%), as up to 580,000 M40 households (families with a household income of RM4,850 and RM10,959) fell into the B40 category as a result of higher unemployment and affected income during the height of the COVID-19 pandemic lockdowns, which further exacerbated the financial constraints faced by B40 students and their parents.
While higher education has never been more important in our society today, it has also never been more costly, intensified by the overall rise in the cost of living. In spite of an increasing number of tertiary and higher education institutions in Malaysia which affordable fees for Malaysians, the struggle to afford still remains for low-income students which leads to risk of attrition while completing their studies.
It was reported earlier this year that a total of 17,613 public university students dropped out last year while 5,165 students had suspended their studies. At the same time, 20,577 students in private universities had also postponed their studies.
In supporting the Government’s mission to break the cycle of generational poverty for low-income families while contributing to nation-building by nurturing our next generation of leaders, OSK Foundation Scholarship has launched a needs-based scholarship in 2021 that is offered by OSK Foundation with the aim of helping B40 students realise their tertiary aspirations.
Transforming Lives, One Scholar at a Time
OSK Foundation believes that a good education is the fundamental right of every child and young adult, and that finances should not be a barrier to success.
Guided by our beliefs, the financial assistance offered by the OSK Foundation Scholarship aims to plug the cost gap for B40 students irrespective of one’s race, religion, gender or beliefs.
The OSK Foundation Scholarship Programme is designed to help deserving Malaysian students from challenging socio-economic backgrounds attain quality tertiary education, and in turn, improve their livelihoods and those of their families.
The scholarship is applicable for students who are pursuing their first degree programme at OSK Foundation’s partner universities.
How Will Students Benefit from the Scholarship?
Successful applicants will receive a full scholarship covering full tuition and enrolment fees for their chosen programme of study, and will be provided a living allowance of RM1,000 per month throughout their studies.
In addition to confirmed employment upon graduation and internship (industrial placement) in OSK Group, scholars will be placed under a Scholars Development Programme to support their personal development and character-building during their formative years.
Who Should Apply for the OSK Foundation Scholarship?
Here are the eligibility criteria for scholarship applicants:
- A citizen of Malaysia with a maximum age of 21 years old.
- Minimum of 3As or a CGPA of 3.30 in STPM or equivalent (eg: A-Levels, Matriculation, Foundation, Diploma)
- Minimum 6As in SPM (including core and elective subjects) or equivalent (eg: O-Levels, GCE, etc.)
- Possess good communication skills with strong command of Bahasa Malaysia and English language.
- Possess good character – a self-starter who is confident resilient, ambitious, has strong leadership capability, and is active in co-curricular activities and/or sports and/or community service.
- Applicants must have secured an unconditional/ conditional letter of offer from one of the partner universities.
- Applicants must not be bonded to or a recipient of other scholarship, loan or financial assistance.
- Applicants must be willing to serve OSK Group of companies for a specific term upon graduation.
- Total household income of not exceeding gross amount of RM8,000 per month (priority is given to those from single-income/ single-parent families). Proof of financial need is required.
Applicable Fields of Study for the OSK Foundation Scholarship
Accepted fields of study for the scholarship are listed as below:
- Business & Finance
- Finance & Accounting
- Taxation & Audit- Business Management
- Economics & Risk Management - Construction & Engineering
- Civil- Construction & Project Management
- Electrical & Electronics- Mechanical
- Quantity Surveying
- Architecture - Human Capital
- Human Resources - Hospitality
- Tourism & Hospitality Management
- Culinary Arts - Information Technology
- Information Technology (Fintech)
- Information Technology (Cybersecurity)
- Business Information System
- Big Data and Data Analytics
About OSK Foundation
OSK Foundation was incorporated as the philanthropic arm of OSK Group to realise the Group’s commitment towards contributing to the well-being of the community, especially the B4 and underserved segment, and the environment.
Going beyond donations and sponsorships associated with charitable giving, the foundation not only advocates equality, disaster relief, special needs care and education, conservation, but also focuses on giving time and attention through active volunteerism among the management and our employees.
Look out for the next OSK Foundation Scholarship intake for private and public universities in January 2023!
Application form and details will be available at: www.oskfoundation.com/scholarship.
*OSK Ventures is a member of OSK Foundation.
Contact Info
For further queries or to know more about the OSK Foundation, please log on to: www.oskfoundation.com or email to: osk.foundation@oskgroup.com.