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Published by Afterschool.my on May 17, 2017, 05:07 pm
Now that many of you have been accepted into Diploma programmes, you may apply to PTPTN. But some of you may not even be aware of this. To those who are aware, there may be some grey areas that are filled with doubt. So let us explain to you how PTPTN works, right from the requirements all the way to paying them back, and everything in between.
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 fee and living cost during the study period, thus, opening up more opportunities for all students to pursue higher education.
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Many already know PTPTN's requirements by now, but for those of you who don't, here is a gentle reminder:
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.
PTPTN base their amount given, on which category you fall under, whether it's A, B or C.
Most of you may now ask, "I understood all that, but what do you mean by maximum amount?". Well, good question, keen observer. The maximum amount is dependent on what type of course you study and what type of university you study that in. For example, Student A studying Pharmacy at an IPTS would have a different maximum amount compared to Student B studying Education at an IPTA. Here is the list of the maximum amount based on the course and type of university.
Note: If you are still confused, please scroll above to re-check with the category you fall under. Remember, it is based on household income.
For PTPTN, if you achieve a First Class Honours for your Degree, your loan will be converted into a scholarship. Therefore, you won't have to pay anything back! First Class Honours would usually require a CGPA of at least 3.70. Other than that, however, there aren't any exemptions for performing well in your chosen course. However, this year saw an incentive being injected for those who have to settle their loans.
As far as PTPTN goes, you will need to start making payments 6 months after your graduate (beginning with month 7). If you did not achieve First Class Honours, then you will need to pay back the full amount with the addition of a flat rate interest of 1% (or ujrah, a syariah-compliant “fee” to help with the administrative and management costs). The time allotted for an individual to complete the repayment depends on the amount borrowed.
It is indeed necessary, especially when PTPTN has time and again reminded the public that payments should begin from month 7, 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. If you're facing difficulties, visit one of the PTPTN offices and talk to their employees who may help you in settling. Also, do not forget the offer of discounts for big sum payments, valid till December 31, 2018. To find out in detail about repaying your loans, please click the link below to view the PTPTN Repayment Brochure.
To apply for a PTPTN Loan, just follow these 5 Simple steps: