government educational loan

GOVERNMENT EDUCATIONAL LOAN

(MALAYSIA)

PTPTN

The Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) is established under the Akta Perbadanan Pendidikan tinggi National 1997 (Akta 566) and is enforced at 1st july 1997.

It’s function is to facilitate payment for tertiary education, to collect back loan, preparing saving scheme and to facilitate deposit.

The PTPTN education financing is established to help students to pay for their tertiary education at government and private institution. This greatly reduce the burden of family in paying for the living cost as well as the education fee.

Education stage Category of institution that approved by PTPTN

Full time diploma Polytechnic, Local and private colleges/ universities

Part time diploma Polytechnic, Local and private college/ universities

Overseas diploma program Local college/universities

Advance diploma Local college and polytechnic

Full time Bachelor degree Local and private colleges/universities

Part time Bachelor degree Local and private colleges/universities

Full/part time or overseas master program

Local universities

Full/part time or overseas doctorate program

Local universities

Full/part time or overseas Professional courses

Local universities

TERM AND CONDITIONS Malaysian citizen Not older than 45 years old when applying Received the offer from higher institution Courses to be taken must be approved by

the ministry for education Time remaining until the completion of

studies must not be less than 1 year No other sponsors Already open a SSPN account

PAYMENT SCHEDULE Student must be aware that their loan will

be defer or revoke if the following happen:1. Achieved GPA less than 2.02. Defer of studies3. Suspend by institution

Local colleges/universities and polytechnic

Semester GPA Payment status

1 <2.0 Paid

2 2.0 and above Paid

3 <2.0 Revoke

4 2.0 and above Paid

5 2.0 and above Revoke

6 2.0 and above Paid

Private colleges/universities

Semester GPA Payment status

1 <2.0 Paid

2 2.0 and above Revoke

3 <2.0 Paid

4 2.0 and above Revoke

PTPTN LOAN WILL BE TERMINATE IF: Fail or drop out of school

Student make cancelation by themselves

Received other sponsor

Falsifying of document

Receiver of the loan is announced bankrupt

REPAYMENT Repayment of loan starts 6 month after

your graduation

Method: 1. Counter at PTPTN main and branch office, Post

office and certain bank.2. Through allocation from salary3. Online banking to bank or through the PTPTN

official webpage4. KWSP5. Electronic Data Capture (EDC) Terminal

DEFERRED REPAYMENT

Student graduate from previous course and re-joined studies at higher level.

Student following the local and overseas joint course which the student is continuing his/her studies at overseas

Student extend his/her studies Graduated but no yet found a job Student received other sponsor

REPAYMENT NOTICE Repayment notice will be send to all loan

receiver at the 7th month after graduation. First reminder of repayment will be send

within 2months after the repayment notice if student does not repay the monthly loan instalment.

Second repayment will be send within 2months after the First reminder if student does not repay the monthly loan instalment.

Final reminder will be send if no payment or reply is being send within 3 months after the second reminder.

Notice of demand will be send if there is still no payment and loan receiver will be fined as well.

Loan receiver can be brought to court if PTPTN official wished to and the loan receiver have to pay the loan in full as well as the court cost and jury cost.

PERSONAL LOAN On the other hand, parents can apply

for personal loan to finance their kid’s education or even to repay the PTPTN in case of insufficient money.

Personal loan is easy to apply if the borrower have a good credit rating.

However, personal should only be consider in case of emergency.

For more information on personal loan, visit the following website:

1. https://www.imoney.my/personal-loan2. https://

www.imoney.my/personal-loan-islamic

For more information on PTPTN financing, visit

1. http://www.ptptn.gov.my/web/guest/pinjaman