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Published by Afterschool.my on Jun 11, 2021, 02:10 am
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.
According to PTPTN, the amount given is based on three categories. You guys cab refer to the table below:
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.
For full-time studies:
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.
PTPTN waiver will only be eligible for First Class Honour students that come from M40 and B40 families.
Do note however that First Class Honours may differ from university to university, so make sure you check with your counsellors so that you know what to aim for. Generally, however, First Class Honours typically requires you to have at least CGPA of 3.67/4.00, or higher.
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.
To apply for a PTPTN Loan, just follow these 5 Simple steps:
Confused? Then feel free to check out our other PTPTN guides: