Your Ultimate Guide to PTPTN 2023
Pursuing higher education is a dream for many, but with the rising costs of tuition, it can also be a financial burden. Fortunately, the National Higher Education Fund Corporation (PTPTN) offers loans to help students finance their education. If you're considering applying for a PTPTN loan, it's important to understand the minimum requirements, application process, and other important details. That's why we've put together this comprehensive guide to provide you with all the information you need to make an informed decision about your education financing. So, let's dive in and explore everything you need to know about PTPTN loans!
What is PTPTN Loan?
PTPTN stands for National Higher Education Fund Corporation, a Malaysian government agency that provides loans to students pursuing higher education. PTPTN loans are designed to help students cover the costs of tuition fees, living expenses, and other related expenses. These loans are available to Malaysian citizens who are pursuing undergraduate or postgraduate studies, both locally and overseas. The loan amount offered by PTPTN depends on several factors, including the type of program and the student's financial needs. PTPTN loan is a valuable financial aid option for students who may not have the resources to cover their education costs. They can make a significant difference in helping them achieve their academic goals.
Minimum Requirements:
Courses that PTPTN covers
We have listed below the courses that PTPTN covers. It's worth noting that PTPTN does not cover private pre-university courses such as A-Levels, AUSMAT/SACE, Matriculation, and similar programs.
The loan amount offered by PTPTN is categorized into three levels:
The maximum loan amount that you can receive depends on the type of course and university you choose. For instance, if you're pursuing Pharmacy at an IPTS, the maximum amount may differ from the maximum amount offered to a student pursuing Education at an IPTA. The table below provides the maximum loan amounts based on the course and type of university.
Full-Time Programs:
PTPTN Waiver Eligibility Criteria: What First Class Honours Students Need to Know?
PTPTN waiver benefits are exclusively available to First Class Honour students from M40 and B40 families. It's important to note that the definition of First Class Honours may vary from one university to another, so it's advisable to consult with your academic counselors to understand the criteria you need to meet. Typically, achieving First Class Honours requires maintaining a CGPA of 3.67/4.00 or higher.
PTPTN Loan Repayment: Deadlines, Penalties, and Options
After completing your studies, PTPTN requires you to start repaying your loan within 12 months, regardless of whether or not they have notified you. Unfortunately, many borrowers have overlooked this crucial requirement, leading to a surge in blacklisting cases. The repayment duration depends on the amount borrowed, with those borrowing less than RM10,000 given a five-year repayment period, while those borrowing more than RM50,000 have 20 years to repay their loan. Moreover, the repayment schedule can be tailored to your financial capacity, and it's possible to extend the repayment period until you reach 60 years old, albeit with an interest fee. If you're struggling to make payments, seek assistance from one of PTPTN's offices, where their staff can provide guidance on settling your debt.
How to apply for PTPTN Loan?
What is PTPTN Loan?
PTPTN stands for National Higher Education Fund Corporation, a Malaysian government agency that provides loans to students pursuing higher education. PTPTN loans are designed to help students cover the costs of tuition fees, living expenses, and other related expenses. These loans are available to Malaysian citizens who are pursuing undergraduate or postgraduate studies, both locally and overseas. The loan amount offered by PTPTN depends on several factors, including the type of program and the student's financial needs. PTPTN loan is a valuable financial aid option for students who may not have the resources to cover their education costs. They can make a significant difference in helping them achieve their academic goals.
Minimum Requirements:
- You are a Malaysian citizen
- You are aged 45 years and below
- You must already have an offer to study at an institution of higher learning (both public and private institutions, colleges, universities, and polytechnics are accepted)
- The course that you are pursuing is approved and accredited by MQA (Check if your course is accredited by MQA)
- The remaining period of your study must not be less than one year
- You have no other sponsors
- You must have an SSPN-i savings account before sending in your application
Courses that PTPTN covers
We have listed below the courses that PTPTN covers. It's worth noting that PTPTN does not cover private pre-university courses such as A-Levels, AUSMAT/SACE, Matriculation, and similar programs.
- Diploma (Full-time): IPTA, Politeknik and IPTS
- Diploma (Part-time): IPTA, Politeknik and IPTS*
- Diploma (PJJ): IPTA
- Advanced Diploma: IPTA and Politeknik
- First Degree (Full-time): IPTA and IPTS
- First Degree (Part-time): IPTA and IPTS*
- Masters (Full-time/Part-Time/PJJ): IPTA
- Ph.D. (Full-time/Part-time/PJJ): IPTA
- Professional Courses (Full Time/Part-time/PJJ): IPTA
* Education Loans are prioritized for students in UNITEM, UNITAR, Wawasan Open University, and Asia e University.
The loan amount offered by PTPTN is categorized into three levels:
| LEVEL | QUALIFICATIONS |
|---|---|
|
Maximum |
If the student or student's guardian is listed as a recipient of Rahmah Cash Donation (STR) |
|
75% of the maximum loan |
Family income does not exceed RM8,000 (not in STR data) |
|
50% of the maximum loan |
Family income above RM8,000 (not in STR data) |
The maximum loan amount that you can receive depends on the type of course and university you choose. For instance, if you're pursuing Pharmacy at an IPTS, the maximum amount may differ from the maximum amount offered to a student pursuing Education at an IPTA. The table below provides the maximum loan amounts based on the course and type of university.
Full-Time Programs:
|
Institution |
Level of study |
Annual Loan Amount According to Level |
||
|---|---|---|---|---|
|
Maximum (RM) |
75% (RM) |
50% (RM) |
||
|
Public Universities, Polytechnics |
Integration/Diploma |
4,750 |
3,560 |
2,380 |
|
Bachelor of Science |
6,650 |
4,990 |
3,330 |
|
|
Bachelor's Degree (Literature) |
6,180 |
4,630 |
3,090 |
|
|
Master's Degree |
9,500 |
7,130 |
4,750 |
|
|
Doctor of Philosophy (PhD) |
24,700 |
18,530 |
12,350 |
|
|
Professional Course |
5,700 |
4,280 |
2,850 |
|
|
IPTS |
Foundation |
6,800 |
5,100 |
3,400 |
|
Diploma |
6,800 |
5,100 |
3,400 |
|
|
Diploma (Pharmacy, Dentistry |
12,750 |
9,560 |
6,380 |
|
|
Bachelor of Science |
14,030 |
10,520 |
7,010 |
|
|
Bachelor's Degree (Literature) |
13,600 |
10,200 |
6,800 |
|
|
Bachelor's Degree (Pharmacy, Dentistry |
17,000 |
12,750 |
8,500 |
|
|
Bachelor of Medicine (MBBS) |
* 50,000 |
* 37,500 |
* 30,000 |
|
PTPTN Waiver Eligibility Criteria: What First Class Honours Students Need to Know?
PTPTN waiver benefits are exclusively available to First Class Honour students from M40 and B40 families. It's important to note that the definition of First Class Honours may vary from one university to another, so it's advisable to consult with your academic counselors to understand the criteria you need to meet. Typically, achieving First Class Honours requires maintaining a CGPA of 3.67/4.00 or higher.
PTPTN Loan Repayment: Deadlines, Penalties, and Options
After completing your studies, PTPTN requires you to start repaying your loan within 12 months, regardless of whether or not they have notified you. Unfortunately, many borrowers have overlooked this crucial requirement, leading to a surge in blacklisting cases. The repayment duration depends on the amount borrowed, with those borrowing less than RM10,000 given a five-year repayment period, while those borrowing more than RM50,000 have 20 years to repay their loan. Moreover, the repayment schedule can be tailored to your financial capacity, and it's possible to extend the repayment period until you reach 60 years old, albeit with an interest fee. If you're struggling to make payments, seek assistance from one of PTPTN's offices, where their staff can provide guidance on settling your debt.
How to apply for PTPTN Loan?
- Open an SSPN-i account — you can do this at any PTPTN counters, or at Maybank, Bank Islam, BSN, CIMB Bank, Agrobank, or Bank Rakyat.
- Open a savings account at a panel bank — you will need to open a savings account with a specific bank based on your choice of institution (IPTS panel banks; IPTA panel banks)
- Buy a PTPTN number from Bank Simpanan Nasional (BSN) — this will cost you RM5 and is valid for six months
- Head to PTPTN’s website to apply online: http://www.ptptn.gov.my/gateway
- Complete the application form carefully based on the instructions
20 Mar 2023
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