Banks and loans

Monday, January 26, 2009

Student Loan, Malaysia. - PTPTN


PTPTN stands for "Perbadanan Tabung Pendidikan Tinggi Nasional " or "The National Higher Education Fund Corporation".In line with government aspirations that no student should be denied access to higher education because of financial reasons, PTPTN plays a role as an efficient student loan programme for those who are eligible.

Major functions:-
- manage disbursement for the purpose of higher education,
- collect deposits, design and offer saving schemes for the purpose of saving for higher education,
- collect loan settlement,
- carry out any other functions given to the PTPTN under any written legislation.
In short, PTPTN's mission is manage funds for higher education.

Who are eligible for PTPTN's Student Loan:-

* Malaysian citizen, aged below 45 years
* Passed SPM with credits in any 3 subjects, SPM for Community College Certificate and Polytechnic Diploma graduates with CGPA 3.0 and above;
* IPTA/IPTS/Polytechnic students must register to pursue courses approved by the IPT Management Department (IPTA/IPTS)/Polytechnic Management Department and Community College of the Ministry of Higher Education;

* IPTS students must obtained the Accreditation Certificate from the Malaysian Qualifications Agency (MQA). The course and Accreditation Certificate approval period must still be valid on the date of application;

* All students must possess entry requirements determined by the Ministry of Higher Education to pursue the course. For students with qualifications that differ from that stipulated, verification that the said qualification is equivalent to the required qualification must be obtained from departments or agencies specified as above;

* The remaining period of study upon application must exceed one year;

* PTPTN student loans require two (2) guarantors that must consist of biological father and mother of student regardless of the parents age and income;

* *Starting 1st of January 2008, PTPTN student loans will only be considered for students with SSPN account with at least RM3,000.00 savings for parents with RM2,000.00 and above income, and RM500.00 savings for parents with RM2,000.00 or less income;

(the above term regarding SSPN savings amount has been suspended until further notice. However student loan applicants are still required to have a SSPN account with minimum savings amount of RM20 before eligible to apply for PTPTN loan).

* Have no other sponsor; and

* Loan overall total must not exceed RM65,000.00

*Note : SSPN account must be opened and active at least 2 weeks before application session in IPT.
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