Pursuing a college or university degree comes with a hefty price tag. Study loans offered by the National Higher Education Fund Corporation (PTPTN) are by far the most popular choice among those seeking financial aid to pay for their tertiary education.
The loans cover tuition fees and living expenses, either fully or partially, during the study period, but there are requirements that have to be met to qualify for this government loan scheme.
PTPTN loan repayments begin 12 months after graduation. Those who default on their repayments will be blacklisted and prohibited from renewing their passports and travelling abroad.
State governments also offer scholarships and loans to deserving students from their respective states. In some cases, the loans are convertible, meaning they are automatically converted into scholarships if the students graduate with first-class honours.
Interest is not imposed on the majority of study loans provided by state governments, so students only have to repay the exact amount loaned to them.
Some states only require borrowers to repay 25% of the total loan amount.
Here are loans and scholarships offered by the various state governments:
- Loans offered by Penang, Kelantan and Terengganu
- Scholarships and loans offered by Selangor and Perak
- Loans offered by Negeri Sembilan, Melaka and Pahang
- Scholarships and loans offered by Sabah, Sarawak, Federal Territories, Johor and Kedah.
Only one state, Perlis, does not offer any scholarship or loan. Do note that not all the above scholarships and loans are open for this year.
Students who wish to study at a private university can also apply for an internal scholarship offered by the tertiary institution itself. Check out this list of private universities that are offering scholarships.
The information for this article was gleaned from Afterschool.my, a higher education website that provides helpful information on courses, institutions and scholarships for students transitioning from secondary school to the tertiary level.