Tthe PTPTN Education Loan – What is the PTPTN?, Eligibility
They say that education is the ultimate key to success. But in this era, getting a tertiary education could be very, very, costly. So what are we to do? The best way to get free all access education is of course, by applying for scholarships / sponsorships. If you have the scores to show for it, then try your best to get that scholarship!
Another way to afford tertiary education is of course by applying for a loan. While personal loans are plentiful at banking institutions, the Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) is an institution that issues loans specifically to support your education needs.
If you are eager to apply for a PTPTN Education Loan Scheme or just curious about how it works and what it offers, we’ve got the information you need. Or perhaps you might have heard (or read) the word PTPTN so many times but you don’t quite know what is it all about. Well, fret not - just keep on reading SaveMoney.my’s guide and you’ll be a PTPTN expert in no time.
What is the PTPTN?
Basically, the Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) is a government-owned corporation established under the National Higher Education Fund Corporation Act 1997. With its main office located at Wisma Chase Perdana in Damansara Heights, PTPTN started its operation in 1997 and has three main functions:
- To manage the financing for higher education and its repayment collection;
- To provide a savings scheme and administer the deposits for the purpose of higher education; and
- To perform any other functions entrusted to PTPTN by any written legislation.
To this end, the PTPTN Education Loan Scheme (ELS) was set up for one purpose: To provide opportunities to students to continue their tertiary education.
PTPTN Education Loan Scheme (ELS)
The Perbadanan Tabung Pendidikan Tinggi Nasional Education Loan Scheme (PTPTN ELS) aims to provide education loans to students who are pursuing their studies in local institutions of higher learning (Institut Pengajian Tinggi also known as IPT). Depending on their respective parents’ income, the ELS will enable a student to either fully or partially pay for the tuition fees and other expenses, for the duration of their study in their chosen institutions of higher learning.
Eligibility
The PTPTN ELS is open to ALL prospective Malaysian students (under the age of 45) who have had an offer to undertake studies or are currently studying full-time and part-time at the Diploma, First Bachelor Degree, Master, Doctorate and Professional Course levels in IPTs established under the following acts:
• Universities and Universities Colleges Act 1971
• Institut Teknologi MARA Act 1976
• Private Higher Education Institutions Act 1996
• Education Act 1996
But do note there’s an exception! For part-timers, only those studying in local IPTAs (Institut Pengajian Tinggi Awam or Public Univeristies) are eligible to receive a loan. We have summarized the level of education in IPTA and IPTS (Institut Pengajian Tinggi Swasta or Private Universities) and their eligibility for a PTPTN loan.
*Balkish Rosly is an Investigative Journalist of SaveMoney.my, an online consumer advice portal which aims to help Malaysians save money through smart (and most of the time painless) savings in their daily banking, technology, and lifestyle spending habits.
