Ptptn
Ptptn is a government authority in Malaysia which is responsible for providing loan to students for studies at higher level. Its full form is Perbadanan Tabung Pendidikan Tinggi Nasional (Ptptn).
Its past 20 years since the formation of the authority was laid on 1st November 1997. The authority works under the Ministry of Education with its chairman Shamsul Anuar Nasarah from Malaysian Parliament.
The authority is being headquartered in Wisma Chase Perdana, Damansara Heights and Kuala Lumpur in Malaysia. Agos Cholan is working as CEO of the company since 2011.
The main aim behind its establishment was to provide education loan which was granted fully or partially so that students can pay the fees and their subsistence for the duration of their study.
If we look upon the grants then since 1997, they have worked for 1.95 million students with totaling more than RM43.60 billion.
Who are eligible for this loan in-country?
The criteria were laid out for this service as follows;
• One should be a citizen of Malaysia.
• One
should be of age 45 and below.
• One should have the approval from the Higher Education Department or the Department of Polytechnic in case of going for courses in HEI or polytechnic.
• One should have passed out Sijil Pelajaran Malaysia (SPM) with credits in 3 subjects.
• One should have passed out SPM with CGPA of 3.0 and above for polytechnic diploma and further offer to pursue first-degree studies at public or private HEIs.
• One should opt for certain courses that have obtained an Accreditation Certificate from the Malaysian Qualifications Agency.
• One should follow the entry requirements determined by the Ministry of Higher Education (MOHE) to pursue the course.
It must be obtained from the department or agencies specified by the government.
• One should have two guarantors that can be parents also.
• One should have an SSPN saving account before filling out the application.
• One should not have any other sponsor.
• One should go for one year exceed in the remaining period of study.
Is that all courses are under the Ptptn loan?
The loan doesn’t go the same for all the courses. It is available according to the level of studies and type of institution. The loan is not given for pre-university courses like A-levels or IB.
What is the amount that is offered as a loan?
The course and institution are the factors that influence the sum of the loan. It may vary from a maximum of RM 26,000 to a minimum of RM 1,000. Other factors that contribute are the amount of tuition fees, cost of living based on the income of applicant’s father/mother/guardian.
Does it get affected with interest on amount given for loan?
The interest is charged on loan borrowed to a flat rate of Upah of 1% per annum. As students have to obtain insurance on the amount with all premium deduction made on behalf of Ptptn.
The insurance deduction is made in every semester. Also, the period is set up for repayment of a loan that may vary from 5 years to 20 years.
It is thus the topmost choice of Malaysian students to go for higher studies at a very low-interest rate. Even scholarships can work as a help to exempt from paying back the loan.
References
https://en.wikipedia.org/wiki/Perbadanan_Tabung_Pendidikan_Tinggi_Nasional
https://www.ptptn.gov.my/