Everything You Need To Know About Applying For A PTPTN Loan

Getting an education can be expensive. On the other hand, having the right paper qualification can be the resignation to jumpstart your career.

If you are a parent, giving your child a good start in life with a good education is important, but so is putting a roof over your family and having enough money to survive.

With the cost of education escalating, without an education fund set up by parents, children would have to go for a scholarship, or failing that, get a student loan.

For most Malays, this would apply to the Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN). It is a government institution that was established to provide study loans to Malaysian students for their local higher education.

Here’s everything you need to know about applying for a PTPTN loan:

1. Am I eligible to apply for the PTPTN?

Here is a list of criteria to be eligible for the PTPTN:

If you checked all of the above, then you are eligible to apply for the PTPTN.

2. Will the PTPTN cover all levels of education?

level of educationInstitutions approved by the PTPTN
IPTAIPTSPolytechnic
FoundationNoYes*No
Full-time diplomaYesYesYes
Part-time diplomaYesYes#Yes
Long distance diplomaYesNoNo
Graduate DiplomaYesNoYes
First full-time baccalaureateYesYesNo
First part-time baccalaureateYesYes#No
Master’s degreeYesNoNo
DoctorateYesNoNo
Professional courseYesNoNo

* Limited to students of MMU, UNITEN, UTP, UNIRAZAK and UNITAR.
# Limited to UNITEM, UNITAR, WOU and AeU students.

3. Will the PTPTN cover my studies abroad or related courses?

a. Foreign-based pre-university programs

The PTPTN will not cover overseas-based pre-university programs such as A-levels, Pre-University Certificate (CPU), International Baccalaureate (IB) or Australian Diploma (AUSMAT).

b. Matchmaking programs

When it comes to twinning programs, the PTPTN will only cover the funding of your studies in Malaysia. For example, you are on a 4-year matchmaking engineering program, with the first two years in Malaysia and the next two years in London, the PTPTN will only cover funding for the first two years. You are on your own after that, but you can apply for a scholarship or other private student loans.

vs. Education programs abroad

If you plan to study abroad completely, this will also not be covered by the PTPTN. You will need to go for a scholarship or consider other private student loans.

Read more: Here is a list of scholarships if you missed the JPA deadline

4. How much of the loan will I be entitled to?

The PTPTN will take two aspects into account before deciding the loan amount for which you will be eligible:

a. Status and income bracket of parents or guardians

The amount of PTPTN funding is determined by the status of the parents or guardian as beneficiary of BR1M assistance and net income, after deduction of the number of dependents.

Education fundingMonthly net household income (RM)
Maximum (100%)BR1M beneficiary
75% of maximumNOT BR1M beneficiary, with income up to RM8,000
50% of the maximumNOT BR1M Recipient, with income over RM8,000

Source: https://www.ptptn.gov.my/permohonan-pinjaman-side

b. Course or institution

Depending on the institution, training, level of training and schedule (full or part time) you follow:

Full time:

INSTITUTIONLEVEL OF STUDIESANNUAL FINANCING AMOUNT
100%
(RM)
75%
(RM)
50%
(RM)
IPTA & POLYTECHNIQUE**Diploma**4 7503,5602380
Licence6 6504,9903,330
Bachelor (Arts)6 1804,6303,090
Master’s degree9,5007,1304 750
Doctorate24,70018,53012,350
Professional course5,7004,2802,850
IPTSFoundation6,8005,1003,400
Diploma6,8005,1003,400
Diploma (pharmacy, dentistry and health sciences)12,7509 5606,380
Baccalaureate (science)14,03010,5207,010
Bachelor (Arts)13,60010,2006,800
Bachelor’s degree (pharmacy, dentistry and health sciences)17,00012,7508,500
Bachelor of Medicine (MBBS)50,00037,50030,000

Part time:

INSTITUTIONLEVEL OF STUDIESANNUAL FINANCING AMOUNT
(RM)
IPTA & POLYTECHNIQUE**Diploma**4 750
Licence6 180
Master’s degree9,500
Doctorate24,700
Professional course5,700
IPTSDiploma5,050
Licence5,470

* PTPTN loan for part-time studies at IPTS is only available for OUM, WOU, UniRazak, AeU and Unitar.
** Polytechnic funding only applies to diploma-level studies.

Source: https://www.ptptn.gov.my/permohonan-pinjaman-side

5. How do I apply for a PTPTN loan?

Step 1Open an SSPN-i account online at PTPTN –
https://www.ptptn.gov.my/elmas-pin-purchase-web/#/
Or you can also open it at Maybank, Bank Islam, Agrobank, Bank Rakyat or RHB Bank.
2nd stepPurchase a PIN code RM5.00 online or at any branch of Simpanan Nasional Bank. Make sure you receive the payment receipt.
Step 3Apply through the PTPTN Online Loan Application website.
The entire application process can now be completed online. For a step-by-step guide to applying and submitting your application online, you can view their manual here:
https://www.ptptn.gov.my/images/fail/manual/manual_mhn_online_pin_online.pdf

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If you are applying for the first time, you will be asked to register first and pay the PIN code before proceeding with the loan application depending on the educational institution (IPTA and IPTS) in which you are registered for your course.

Learn more: PTPTN will help finance your child’s education long before you need a loan

6. When should I apply for my PTPTN loan?

Not many people know that the online application for PTPTN has to be submitted on specific dates as per your respective IPTA or IPTS. Both IPTA and IPTS have different dates open to student demand for this popular loan.

You can go to the official PTPTN website here and enter the full name of the selected university.

You are also advised to reconfirm these dates with your institution’s student affairs department.

7. Do I have to pay insurance for my PTPTN loan?

In addition, students are required to pay insurance on the amount borrowed. This insurance deduction aims to protect their loan based on their period of study and their loan repayment period.

The insurance deduction will be made each semester on their behalf by the PTPTN at the time of loan disbursement.

8. When will I receive my loan funds?

The first loan disbursement will not be made until the loan agreement has been completed and received by the PTPTN. You can check the status of the request within 6 business days. The valid offer period is within 14 days from the date of the offer letter.

The loan disbursement for the following semesters will only be made after the PTPTN has received the student’s study status from the respective institutions. The dates and deadlines for you to receive the money are subject to the respective loan application deadline of the educational institution. The details of the loan disbursement schedule can be found on the same online page of the loan application deadline for the respective IPTA or IPTS.

Loan disbursements will be credited to the student’s account, unless otherwise agreed. The loan term is based on the semester of your application. If the request was made during your second semester, the loan will be approved from the second semester until the end of studies.

9. Can I reapply for a loan to finance my graduate studies?

You can. However, you need to continue your education at a higher level than your old loan. For example, your first loan was to finance your degree and now you want to pursue your master’s degree. You don’t need to pay off your first loan until you’ve completed your second cycle. In the end, you will need to start paying off both loans.

However, if you want to apply for a second PTPTN loan for your second degree, then you will need to settle your first loan before you can apply for the second.

The procedure for applying for a loan is the same as when you applied for your first loan.

10. What if I default on my PTPTN loan?

You will be responsible for repaying the full amount disbursed by PTPTN, including other charges such as fees, insurance coverage, and customs stamp as stated in your PTPTN loan offer letter. You will be exempt from paying your PTPTN loan if you have obtained your license with first class honor. Otherwise, the reimbursement will begin 6 months after the end of your studies.

All borrowers are required to begin repaying the loan within 12 months of graduation and without waiting for notice to be served by PTPTN. Otherwise, a refund notice will be sent on the 13the month.

According to the PTPTN, each borrower’s credit details will be submitted to the Central Credit Reference Information System (CCRIS) after the 12 months have elapsed. Borrowers must adhere to their monthly repayment schedule to maintain a good credit rating with CCRIS.

1% interest charged if the loan is not paid within 12 months. These Syariah compliant fees are known as Ujrah and will be billed monthly from the 13th month. If you repay 100% of the student loan within the first 12 months of graduation, no interest or 1% Ujrah fee will be charged.

For your convenience, the PTPTN loan can be paid online by direct debit from major banks in Malaysia. You can also repay the PTPTN loan through electronic capture terminals located at PTPTN counters nationwide, through designated designated banks, payroll deductions, PayQuik kiosks, Razer Cash at 7-Eleven, Digi Kiosk or others. selected merchants via e-pay.

This article first appeared on May 10, 2016, and has been updated for freshness, accuracy, and completeness.

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Jothi Venkat

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