The ECM Libra Foundation Study Loan for Undergraduate Studies in Local Universities and Colleges

The ECM Libra Foundation offers study loans to selected underprivileged and needy students undertaking tertiary education in any approved course (“Approved Course”) in any MQA approved local private or public university or college (“Approved Institution”). The study loan, which is interest and bond free will cover tuition fees, which will be paid directly to the institutions. The study loan may include cost of living expenses.You must have gained admission to an Approved Institution before you can apply for the loan. Generally you may apply for any Approved Course of study but the Foundation reserves the right not to offer the study loan for reasons and criteria that are governed by the Foundation’s policies. 

Eligibility

To be eligible for the study loan programmes, the applicant must:

• Be a Malaysian citizen;
• Prove eligibility for financial assistance, as means testing will be strictly applied;
• Have a good academic record and preferably active in extracurricular activities;
• Have gained admission into an Approved Institution for an Approved Course;
• Provide evidence of strong self-discipline and drive.

Courses Covered

The programme offers study loans for undergraduate studies in local universities and colleges accredited by MQA. Diploma programmes are also taken into consideration based on the course being pursued and its cost.

Loan Amount

The loan amount will normally cover tuition fees for the duration of the course and where a need is established will cover a fixed yearly amount for living expenses (‘COLA”). The loan amount and COLA will be disbursed on a yearly basis. The programme provides interest-free study loans as long as students pay according to schedule payments. Interests will be applied for late payment. 

Bond

The applicant will not be bonded upon completion of his studies. 

Repayment

Repayment period is over five (5) years.Below is an example:eg, RM50,000 loan / 5 years = RM10,000 per year. 

Guarantor

In the event the applicant defaults on his/her repayment of the loan, the guarantor is required by law to repay the loan owed by the applicant. Your guarantor must be:

• Below 50 years of age.
• Must be earning an income of RM3,000 and above per month

Closing Date

No specific closing date since courses and semester intakes vary from different institutions of higher learning. You are advised to submit your application with all required supporting documentation as soon as possible. However, do note that it may take two to three months to process your application. 

How to Apply

Click here to view the application formClick here to view application checklistDuly completed Study Loan Application and Study Loan Checklist Forms with all the required documents must be sent to the address stated below:Study Loan ApplicationECM Libra Foundation2nd Floor, Bangunan ECM Libra8 Jalan Damansara EndahDamansara Heights50490 Kuala LumpurFor FAQ regarding the ECM Libra Foundation Study Loan, click here.