The Social Security Organisation (Socso) has approved education loans worth almost RM113 million, up till last month.

Deputy Human Resources Minister Senator Maznah Mazlan said, since the loans were introduced in 1997, 4,201 recipients had benefited from the organisation.

Maznah said RM2.28 million was approved in the first quarter of this year. Of the amount, RM338,773 in loans were converted to scholarships based on the students' performance.

Maznah said this in her speech at the Socso Examination Preparation and Motivation Programme held at the Merlimau Polytechnic in Jasin, Malacca, today.

Also present was Socso chief executive officer K Selvarajah.

Maznah said Socso had also reduced loan service charges from four to two percent.

- Bernama