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Everything You Need to Know About MARA Loan

Published by Afterschool.my on Jul 16, 2023, 01:32 pm

Pursuing higher education can be a daunting task, especially for students from low-income families. The cost of tuition, books, and living expenses can be a major financial burden, and it can be difficult to find scholarships or financial aid that meets your needs.

If you are a Bumiputera student who has not met the criteria for a MARA scholarship, there is still hope. The Majlis Amanah Rakyat (MARA) offers a loan program that can help you to finance your education.

In this article, we will provide you with all you need to know about MARA loans. We will discuss the eligibility requirements, the application process, and the repayment terms. We will also provide you with some tips on how to make the most of your MARA loan.

Also, you might want to check out scholarships that are currently open for application.

Why MARA Loan?

MARA loans are a great option for Bumiputera students who are looking for financial assistance to pursue higher education. You can also mention the flexibility of MARA loans compared to scholarships, as they are accessible to students who didn't meet the scholarship criteria.

The loans are offered at a very competitive interest rate, and the repayment terms are very flexible

In addition, MARA loans come with a number of benefits, including:

Potential for Professional Development: MARA arranges multiple initiatives to help graduates find a job that matches their qualifications in the form of seminars and career exhibitions. These events also provide graduates the opportunity to network with other Bumiputera professionals. 

Personalized Support: MARA loans often come with support services and guidance to assist students throughout their educational journey. This may include mentoring programs, academic counseling, and career development support, helping students make the most of their educational experience.

Building Credit History: Repaying MARA loans responsibly can contribute to building a positive credit history, which can be advantageous for future financial endeavors such as securing housing, car loans, or starting a business.

What is the application period for the MARA Loan?

There are usually two MARA loan application sessions in a year, one in January and one in July. The application period for the January session is usually from October to December (prior year), and the application period for the July session is usually from April to June. The application period for the MARA Loan depends on the release of the SPM results, which can vary from year to year. However, MARA may open additional application sessions throughout the year for Undergraduate or Postgraduate studies, so it is important to check the MARA website for the latest information!

Am I qualified to receive a MARA Loan?

The eligibility depends on the different types of programme, but in general you must meet the following requirements: 

  • Be a Bumiputera student 
  • Parents of students are not blacklisted by MARA
  • The courses enrolled in are courses recognized by the Malaysian Government and the Professional Body of Malaysia
  • Applicants do not receive financial or sponsorship assistance from any agency for the same degree (double sponsor)
  • Have a minimum CGPA of 3.0
  • Be enrolled in a public or private university or college in Malaysia
  • Be able to provide a letter of guarantee from your parents or guardian

How to Apply for a MARA Loan?

Check out the summary video below:

  1. Visit https://educationloan.mara.gov.my/V4/sa/#/Login and sign up. 
  2. You will receive an email confirmation on your registered email, with a confirmation code. 
  3. Key in your ID, and confirmation code to access your account.
  4. At the main page, you will be able to see the current offering for the types of programmes, along with the deadline of application. (For example: World’s Top Programme for Pre-University level only).
  5. Complete the application form and upload the required documents.
  6. Submit your application.

If you can’t find the link to apply, that means that the application is closed. This is why it’s important for you to keep tabs on their website from time to time and stay alert, as the application for undergraduate and postgraduate is expected to open again in the following months! You can also refer to MARA’s main website in the “Education Financing” tab, for the latest updates.

There is also usually assistance provided from universities' finance department and student affairs division to handle your MARA Application, so be sure to check with the university you've received offer letter from to help ease your MARA application affairs.

What are the documents required for a MARA Loan application?

The required documents for a MARA loan application are:

  1. Application form
  2. Copy of your identity card
  3. Copy of your passport
  4. Copy of your birth certificate
  5. Copy of your SPM or equivalent certificate
  6. Copy of your latest transcript
  7. Letter of guarantee from your parents or guardian

You can also apply for a MARA loan by mail. To do this, you will need to download the application form from the MARA website and mail it to the following address:

Education Sponsorship Division

3rd Floor, MARA Head Office, 21,

Jalan Raja Laut,

50350 Kuala Lumpur,


The processing time for a MARA loan application is approximately 2 weeks to 6 months, depending on a case-by-case basis. You will be notified of the outcome of your application by email or post. There might also be an application fee charged, so keep in mind and prepare for that just in case.

The finance department and student affairs division at most universities typically offer assistance with MARA applications. Be sure to check with the university that has offered you a place to get help with your MARA application.

Once your application is approved, you will be required to sign a loan agreement with MARA. The loan agreement will specify the terms and conditions of your loan, including the interest rate, repayment period, and grace period.

What is Loan Amount and Coverage provided by MARA?

The amount of loan that MARA covers for students depends on a number of factors, including the course of study, the institution, and the student's financial need. It also depends on the terms and conditions set by the Public Service Department (JPA), subject to MARA’s financial provisions.

The interest rate for MARA loans is 3% per annum. There is a 6-month grace period after graduation before you need to start repaying your MARA loan. The repayment period for MARA loans depends on the amount, but it's usually around 10 - 20 years. You can repay your loan in monthly installments or lump sum. 

Once you graduate, repayment is usually assigned on a month to month basis, in the span of a few years based on the sum you received. 

Another thing to note is that the amount you need to pay will increase over time to shorten the repayment period. For example, you will need to pay RM100 per month for the first three years, but this will increase to RM150 per month after that, and continue to increase each year.

For the complete terms on your repayment schedule, you will need to log into the ebaki MARA site and look at your main profile. If you have any questions, you send them an email via [email protected] or contact their Credit Control Department at 03-2613 2000.

What is the difference between MARA Loan and PTPTN Loan?

The PTPTN loan is available to all Malaysian citizens who have been accepted to study at approved institutions of higher learning, both locally and overseas. 

Meanwhile, the MARA loan is primarily targeted at students from Bumiputera (Malay and other indigenous) communities. It is more focused on providing financial assistance to Bumiputera students pursuing specific courses and fields of study that align with the nation's strategic development priorities.

The MARA Loan also offers a number of advantages over the PTPTN Loan. First, the MARA Loan has a grace period of one year, meaning that you do not have to start repaying the loan until one year after you graduate. This can be a significant advantage, as it gives you time to find a job and get settled into your career before you start making loan payments.

Second, the MARA Loan is interest-free for the first five years of repayment. This means that you will not have to pay any interest on the loan until the sixth year of repayment. This can save you a significant amount of money, as the interest rate on the PTPTN Loan is 6% per annum.

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