government educational loan
DESCRIPTION
Education are deem as an important factor for the country to improve. Countries all around the world are focusing on education as their priority target to make the country more stable and wealthy. Besides than educational loan, parents can apply for bank's personal loan to help finance their kid's education.TRANSCRIPT
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