Did you know education loans are among the top five loan burdens among working adults in Malaysia?

Maybe this is not so surprising as the cost of higher education has risen in recent years. In fact, local think tank The Centre reported last year that a business programme at a private university can cost up to RM102,000.

Therefore, furthering one’s studies has become a serious financial commitment, requiring many to dig into their life savings or opt for study loans instead.

To make matters more complicated, a degree does not guarantee a job these days.

The Ministry of Higher Education has projected that up to 75,000 fresh graduates from 2020 will not be able to secure employment due to the Covid-19 pandemic.

They will be joining 100,000 other Malaysians who will lose their jobs this year and more than 40,000 other fresh graduates who have remained unemployed since 2019.

The bottom line seems to be this: studying does not come cheap and cannot ensure employability. So, is a university degree still worth it?

The answer to that question is a resounding “yes”.

Higher education will always play an important role in fostering economic and personal growth, not just for today but also for the future.

While numbers and figures tend to be of the biggest concern for most people, it is important to remember that the value of higher education goes beyond the quantitative.

Anthropologist Dr Johnnetta Cole described this best when she said, “Higher education is about scholarship, but it’s also about service. It’s about creativity. It’s about matters of the mind, [but also] the heart and the soul.”

Many might still see a university degree as a ticket to higher income, but it can also help you develop as an individual, parent or member of society, and instil soft skills that are appreciated in all aspects of life, not just in the workplace.

In fact, American not-for-profit organisation The College Board reports that participating in higher education lowers smoking rates, improves perceptions of health and encourages higher levels of civic participation.

These are among the benefits you can now enjoy at any point in life. Whether you have a basic degree and want to pursue postgraduate study, have worked for a long time but never got a chance to enrol before, or even if you are retired and just want to learn something new, there are plenty of opportunities for you to make higher education an investment for a brighter future.

Best of all, studying does not have to be a full-time commitment and your job does not need to take a backseat.

You can continue earning while you learn with programmes that allow you to study from the comfort of your home and at your own pace using online platforms and tools, such as the ones you will find at Open University Malaysia (OUM).

So, while current circumstances may appear bleak, rest assured that higher education will always be valuable. Make the right choice and its long-term returns can be truly rewarding for you.

OUM’s January 2021 intake is currently open for registration. Here’s how you can find out more about OUM’s programmes:

Call: 03-7801 2000
WhatsApp: 012-303 9935/019-357 9074
E-mail: [email protected], or visit www.oum.edu.my