Several organizations in Malaysia are offering loans for students registered for Diploma and Degree programmes.

The listed organizations below are basically the most recommended organizations where you can apply your study loan with, because of their low rate of interest and their good reputation as well. Some of them are even under government control.

1.  PTPTN (Perbadanan Tabung Pendidikan Tinggi Nasional) or National Higher Education Fund
(Recommended – lowest rate of interest.)

The National Higher Education Fund Corporation (PTPTN) was established under the National Higher Education Fund Act 1997 (Act 566). It was established to provide financial aids in the form of loan for students who have gained admission at local universities or private colleges but are facing financial problems. PTPTN’s objective is to ensure that no student should be denied access to higher education because of financial reasons.

• Eligibility criteria:
  – Admission into approved courses at local public or private universities or colleges must be gained
  – Students are eligible irrespective of the academic performance or financial background
• Loan Coverage
  RM5,000 per year for a Diploma course and RM16,000 per year for a Degree course.
• Contacts:
  Tel: 03-2098 3731/3732
  Email: [email protected]
  Address:
  PERBADANAN TABUNG PENDIDIKAN TINGGI NASIONAL
  Lot G2, Tingkat Bawah,
  Wisma Chase Perdana,
  Off Jalan Semantan,
  Damansara Heights,
  50490 Kuala Lumpur.
• Reference:www.ptptn.gov.my

2.  MARA Study Loan

MARA Study Loan Programme was introduced in 1966 when Majlis Amanah Rakyat (MARA) was formed. The MARA Loan scheme applies to students who join any private institution for ‘3+0’ programmes. Students have to apply to the respective institution before applying for the loan.

• Eligibility criteria:
  1. Bumiputera, Malaysian citizen: Definition of Bumiputera – If one of the parents is a Malay and practicing Islam or Bumiputera (aborigines/indigenous for Sabah & Sarawak) therefore his/her children are Bumiputeras.    Credits in Bahasa Melayu at SPM/SPMV level.
  2. Never been sponsored by any scholarship bodies at the same education level. Students whose scholarships have been terminated by any sponsor may apply for MARA financial assistance a year after the termination, with the condition that the students have to bear all expenses for that year and obtain excellent results.
  3. Institutions of higher learning are recognized by Malaysian Government or private institutions of higher learning are recognized by Private Education Division, Ministry of Education.
  4. Meet age requirements as follows:
     i. Programs for SPM school leavers – 19 years and below
     ii. First degree – not exceeding 30 years old
     iii. Master’s degree/Medicine/Dentistry Specialization – not exceeding 40 years old
     iv. Doctor of Philosophy (phD) – not exceeding 45 years old
  5. Currently undergo courses that are of great importance to MARA.
  6. Free from any contracts or paid leave from employer while studying except for Medical Specialization courses (For each programs sponsored, there will be other specific requirements relevant to such programs)
  7. The Socio Economic status of the family where the annual taxable joint income of the parents or spouses must not exceed RM80,000.
• Loan Coverage
  Loan covers tuition fees and allowance. However, the amount of loan will depends on the student’s financial background .
• Contacts:
  Tel: 03-26915377
  Address:
  Ibu Pejabat MARA
  21, Jalan Raja Laut,
  50609 Kuala Lumpur.
• Reference: www.mara.gov.my

3.  KOJADI (Koperasi Jayadiri Malaysia Berhad)

KOJADI was established in 1981 where its objective is to extend an effective student loan facility to enable students in need to pursue higher education, and to shape students into well-trained manpower to meet the demand for skilled human resources in the country.

• Eligibility criteria:
  1. The applicant must be a member of KOJADI with RM100 initial shares.
  2. The applicant must hold the requisite additional shares ranging from RM500 to RM2,000 shares for each child depending on the loan amount applied for.
  3. The applicant must nominate a child/nominee under a relevant loan scheme.
  4. The nominated child/nominee must have gained admission to an approved institution of higher learning locally or abroad.
• Loan Coverage
  Maximum amount of loan is RM 35,000 and is released in two or three disbursements over the entire duration of the course of study.
• Contacts:
  Tel: 03-21616499
  Email: [email protected]
  Address:
  Koperasi Jayadiri Malaysia Berhad (KOJADI)
  17th Floor, Wisma MCA,
  163, Jalan Ampang,
  50450 Kuala Lumpur.
• Reference: www.kojadi.my

4.  MIED (Maju Institute of Education Development)

Since the beginning of its operations in 1984, MIED has supported students in need by providing study loans to pursue their higher education and today it has become the leading provider of study loans to members of the Malaysian Indian community seeking such assistance for further education.

• Eligibility criteria:
  Applicants must have at least five credits in the SPM examination. However, priority is always given to students pursuing their studies in local institutions.
• Loan Coverage
  Loan covers 100% of tuition fees.
• Contacts:
  Tel: 03-40422885
  Address:
  Maju Institute of Education Development (MIED),
  8th Floor, Menara Manuckavasagam,
  No. 1, Jalan Rahmat,
  50350 Kuala Lumpur.
• Reference: www.mied.com.my