Money for a better future

List of financial aids available for higher education in Malaysia

Can you have both?

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Education is all about money. Be it government or private institution, there is no free education in this world. Both colleges and universities require long-term savings to pay course fees in order to get quality education.

For students who study far from home and have no free accommodation provided by their colleges, the amount of money to spend is not a joke. Living cost including food, accommodation and transportation are in the checklist. Even though Malaysia has yet to be a high-income country to afford free higher education for its citizens, there are always other alternatives.  Here are some of the possibilities of financial aids available:

Government Loans @ PTPTN

The Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) Education Loan Scheme is the most popular among students and parents. Unfortunately, some students misuse the money to buy all the latest gadgets or games instead of using it for something that can enhance their studies. The PTPTN loan facility is open to students who wish to pursue diploma, degree, masters, doctorate or professional courses. It is also available for students who are taking long distance or part-time courses. (For more information: PTPTN'official site)


MARA Loans

An agency under Malaysia’s Ministry of Rural and Regional Development, Majlis Amanah Rakyat (MARA) is responsible for encouraging and facilitating social and economic development in rural areas. To sustain this loan, applicants must maintain their CGPA of 2.5 and above. An interesting fact about the MARA loan; if the applicants manage to maintain their pointers of 3.5 and above throughout all semesters, the loan will turn into scholarship as reward for their hard work. Don’t you think this is a real good deal? (For more information: Mara's official site)

Bank Loans

Education loans are possible so, don’t be scared to step into any bank and ask about it. A number of loans are available by banks in Malaysia for unfortunate students who want to get higher education. Bank Rakyat Berhad (AL-FALAK) for example, provides Al-Rajhi loan which does not require any guarantors. The loan amount can be five times the amount of salary and, the minimum salary required is only RM1, 500. That is what a bank is for, right?

Let’s graduate with a happy pocket!

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Government Scholarships @ JPA

The Public Service Department of Malaysia, Jabatan Perkhidmatan Awam (JPA) basically develops policies, strategies and manages public agencies and human resources. Prior to this year, JPA offered the PILN scholarship to SPM students. However, an announcement was made last year (2011) that their policies may change and the scholarship may only be offered to pre-university applicants, instead of SPM. JPA scholars not only have to be excellent in studies but also to be active in co-curricular activities. (For more information: JPA's official site)

Company Scholarships

Nowadays, there are quite a number of companies that offer funding for academic fees and some, full scholarships which also cover living expenses. Different companies have their own terms and conditions. There are a few scholarships in particular that stand out and seem to be popular choices among students: Bank Negara Malaysia (BNM), Tenaga Nasional Berhad (TNB), Telekom Malaysia Berhad (TM), Securities Commission (SC), UEM Group Berhad and Sime Darby (Source: News Straits Times Malaysia)

Distance learning @ PJJ (Program Jarak Jauh)

This is neither a loan nor a scholarship but, a program that enables you to get your degree while working full time. This project is proposed to utilize the current information technology available in Malaysia. The use of internet to replace the current paper-printed module materials will enhance features like security, bulletin-board, module content and exercises on Web. (Source: On-Line Distance Learning, Masters thesis @ Universiti Utara Malaysia (UUM).

So dear students, can you see your source of money now? What loan and when to apply? Or are you currently aiming for a scholarship? Just give it a shot simply because there is no harm trying, right? If you succeed, congrats! If you do not make it, take it as a part of life experience. It’s easy as that. Somehow, your exam results doesn't show the real you but your confidence will definitely influence your life as well.

Imagine this, what if we have no source to obtain money to pursue our studies at all? Will Malaysia become a third world country and be filled with criminals that kill each other to survive? Phewww, thank God for all of the loans and scholarships available, Malaysia can now be proud to be an independent country that consists of well educated-citizens. Malaysia Boleh! 

Save for your own good. Why say no?

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