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Published by Afterschool.my on May 06, 2020, 02:51 pm
While every student wants a scholarship, in any shape or form, not everyone will receive one. The reality is, that while you can try to apply as many as you want (and you should, if you meet the requirements), sometimes, it may not work out. However, don’t be discouraged. While it is indeed demotivating, there is another option of course, and that would be an educational loan. In Malaysia, the two famous ones are Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) and Yayasan Bank Rakyat’s Pembiayaan Pendidikan Boleh Ubah (PPBU). Here, we will dissect and compare to two, and give you detailed breakdown as to which will be best suited for you and your needs.
PTPTN and PPBU both have different objectives although their job is to provide financial assistance to students - Image via outofthesandbox.com
The PTPTN Education Loan Scheme was established with the purpose of providing educational loans to students studying in Higher Education Institutions locally. These loans will enable students to finance a full or partial tuition fees and living costs during the study period, thus, opening up more opportunities for all students to pursue higher education.
PPBU on the other hand, is offered to tertiary level education from Skills Certificate, Diploma, Bachelor’s Degree, Professional, Master’s Degree, and Doctorate (PH.D) to deserving Malaysian. Its aim is to aid the social and economic development of Malaysians by enabling bright but needy students to receive undergraduate education at local Public OR Private Higher Learning Institutions and Training Institutes in the country on a full-time basis.
The fundamental requirements for PTPTN and PPBU loan applications is that students must be a Malaysian citizen - Image via SELECCIÓN DE LA HUERTA DIGITAL on Flipboard.com
Many already know PTPTN‘s requirements by now, but for those of you who don’t, here is a gentle reminder:
For Doctorate / PHD:
For Masters Degree:
For Skills Diploma (Diploma Kemahiran):
For Skills Certificate (Sijil Kemahiran):
PTPTN covers any field from a specific course but PPBU only has specific fields they can cover - Image via nytimes.com
PTPTN covers many courses, which we have listed down just below. However, if you do have to ask, PTPTN does not cover private pre-university courses such as A-Levels, AUSMAT/SACE, Matriculation and the like. Moving onwards to the good bit (Please note the type of institution they have listed down) :
Education Loans are prioritised for students in UNITEM, UNITAR, Wawasan Open University and Asia E University.
Open to all fields of study. except for Medical and Aviation (License) courses.
Priority is given to the following fields of study:
Doctorate PHD, Masters Degree, Professional Studies, Bachelor Degree and Diploma in all fields of study.
Malaysian Skills Certificate (SKM) recognized by National Vocational Training Council (NVTC) and other Skills Certificate is recognized by the related Malaysian Government Agencies.
PTPTN’s amount given is based on the household income of the applicant while PPBU’s is based on their course of study - Image via pexels.com
Please note that we will talk about the discounts/exemptions for both PTPTN & PPBU later, so don’t worry, we didn’t forget.
PTPTN base their amount given, on which category you fall under, whether it’s A, B or C.
So most of you may know ask, “I understood all that, but what do you mean by maximum amount?” Well, good question keen observer. The maximum amount is dependent in what type of course you study and what type of university you study that in. For example, Student No.1 studying Pharmacy at an IPTS would have a different maximum amount compared to Student No.2 studying Education at an IPTA. Here is the list of the maximum amount based on the course and type of university.
PPBU on the other hand gives out maximum amounts based on the level of study you apply for.
If you get a CGPA of 3.75 and above, your loans will be converted into scholarships - Image via rvshare.net
PTPTN waiver will only be eligible for First Class Honour students that come from M40 and B40 families.
PPBU has an extensive breakdown of discounts given to those who do well. Below is the list of ranges of CGPA achieved compared to the discount you will receive.
Students need to pay 6 months after they graduate for PTPTN borrowers but PPBU requires students to submit their academic documents - Image via tuition.io
As far as PTPTN goes, you will need to start making payments 12 months after you graduate, with or without notice from PTPTN. Evidently, many have failed to note the very important statement, with the news of droves of people being blacklisted coming to light in recent times. The time allotted for an individual to complete the repayment depends on the amount borrowed.
The structure of the repayment schedule is also dependent on your financial ability to repay your loan. In fact, the repayment schedule can be extended up until you're 60 years old but with an interest fee. If you're facing difficulties, visit one of the PTPTN offices and talk to their employees who may help you in settling.
PPBU have a slightly different method. Upon graduation, students are required to submit their full academic transcripts along with a letter to the office of graduation YBR through e-mail or post. Repayment to PPBU is done via two methods, namely either through internet banking (i-rakyat) or in any branch of Bank Rakyat. Postponement of repayment will only be allowed if the student is accepted to pursue their studies at a higher level and for approved reasons which are subject to the discretion of Yayasan Bank Rakyat.
The PTPTN applicants need to follow a few steps below to apply for their loan while PPBU applicants need to apply online - Image via spireoptout.com
To apply to PTPTN, just follow these 5 Simple steps
To apply to PPBU, please click on HERE.
At the end of the day, the decision is entirely up to you according to what you want and need - Image via pixabay.com
And the winner is ………. you of course! Both the PPBU and PTPTN have its pros and cons. It is really up to the student to think and decide which one is better suited to what they want to achieve. Having two different options though is definitely a win for students all over Malaysia.