CADT AND PHILLIP BANK PARTNER FOR STUDENT LOAN PROGRAMME

9th February 2022 | News

Phnom Penh, 03rd Feb 2022– Held at the Innovation Center Building of Cambodia Academy of Digital Technology (CADT), the Memorandum of Understanding (MoU) on Student Loan Programme between CADT and Phillip Bank Plc was presided over by H.E. Vandeth CHEA, Minister of Post and Telecommunications.

The Digital Technology Student Loan Programme is initiated in response to the need of increasing the number of digital professionals in Cambodia and is a pioneering initiative of CADT under the auspices of the Ministry of Post and Telecommunications. The program aims to: 1). provide opportunities for students who cannot afford to pay the tuition fees and those who want to be financially independent to pursue their education; 2). encourage the growth of outstanding students in the field of digital technology to build human resources who have the capacity for the market needs.

According to H.E. Dr. Sopheap SENG, President of CADT, this student loan program will be provided to students who cannot afford to pay their tuition fees and those who want to be financially independent with the condition below:

  1. Students who pass the CADT exam are entitled to receive a $6,000 scholarship from Phillip Bank to complete their Bachelor’s Degree.
  2. During their study, students are not required to pay either principal or interest.
  3. Students who wish to receive this loan are not required to provide any collateral.
  4. Students are required to pay their loans only after they finish their Bachelor’s Degree and receive a job with a decent salary.

The CADT strongly believes that the students who graduate will have good job opportunities, high salaries, and the capacity to repay their loans. In the case that the student graduate but is unable to find a job, CADT will take the responsibility for paying the loan on behalf of the student. This proves that CADT is committed to providing the highest quality education in digital technology in Cambodia. This student loan program is offered to students who have passed the entrance exam to study at the CADT for a Bachelor’s Degree in Computer Science, Telecommunications and Networking, and E-Commerce.

On behalf of the Ministry of Posts and Telecommunications, which is also in charge of the development of telecommunications and digital technology, H.E. Vandeth CHEA is very pleased and supportive of this student loan program. He also encouraged young people to consider studying digital technology as well as other skills related to Industry 4.0. This way, they will be able to strengthen their capacity and find a job that has a high income so they can help improve their personal and family life, especially contributing to the promotion and development of the country in the digital era.

H.E. Vandeth CHEA expressed his appreciation to CADT and Phillip Bank for their collaborative efforts to become a strong strategic partner in this student loan program at CADT. This is the first digital technology student loan program in Cambodia that provides many favorable terms to the students. H.E. Vandeth CHEA also encouraged Cambodian youth to enroll at the CADT starting from February 18, 2022, onward.

Mr. Chan Mach, Chief Executive Officer of Phillip Bank said that this collaboration will provide an opportunity for Cambodian students to achieve the careers they have always dreamed of, especially in digital technology. Phillip Bank strongly hopes that this support will help contribute to increasing human resources in Cambodia to be ready for the development of digital technology in the country now and in the future.

Please note that the CADT is a leading public research and education institution in the field of digital technology with the mission of providing education, training, research, and development in the field of communications, e-commerce, and information technology in Cambodia. CADT is in charge of educating students in digital engineering and digital business, currently pursuing undergraduate training in telecommunications and network science, computer science, and e-commerce.

(Extracted from KhmerTimes)

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