Where to get your study loans

1. Maju Institute of Education Development 

Maju Institute of Education Development (MIED) is the education arm of the MIC. It offers RM43mil in loans, with an average disbursement of RM6mil to RM7mil a year. Take note that the MIED loans are not restricted to Indian students but open to all Malaysians. 

Eligibility: Applicants must have at least five credits in the Sijil Pelajaran Malaysia examination and priority is given to students who will be pursuing their studies locally.  

Loan Amount: Full tuition waiver (regardless of course and amount). 

Guarantor: Two guarantors needed, both of whom must have an income of more than RM1,000. Both parents cannot be guarantors. 

Interest rate: 6%. 

Repayment: Students must start repayment six months upon graduation. 

Contact: Ms Naga at 03- 4042 2885, MIED office.  

Deadline: Applications open from April 2 till the end of the year. Processing of the loan will take about two months. 

2. Kuok Foundation Bhd 

Type of award: Undergraduate degree in Universiti Malaya, Universiti Kebangsaan Malaysia, Universiti Sains Malaysia, Universiti Putra Malaysia, Universiti Teknologi Malaysia, Universiti Utara Malaysia, Universiti Malaysia Sabah, Universiti Malaysia Sarawak, International Islamic University Malaysia, Kolej Universiti Teknologi Tun Hussein Onn, Kolej Universiti Sains dan Teknologi Malaysia, Kolej Universiti Teknikal Kebangsaan Malaysia, National University of Singapore, and Nanyang Technological University. 

Eligibility: Malaysian citizens applying for or currently pursuing undergraduate degree courses. 

How to apply: Request for forms must be accompanied by a copy of the latest examination results and a stamped self-addressed envelope (17.5cm x 25cm). 

Contact: Kuok Foundation Bhd (Undergraduate Awards 2004), 14th Floor, Wisam Jerneh, 38 Jalan Sultan Ismail, 50250 Kuala Lumpur or call 03- 2142 5319. 

Deadline: March 29, 2004 

3. National Higher Education Fund Corporation 


The Fund offers three loan options – a full loan, partial loan as well as a tuition fee loan. You qualify for a full loan if your family income is less than RM2,000 a month; partial loan if the family income is between RM2,001 and RM4,000 a month; and a tuition fee loan if your family income is more than RM4,000 a month. 

There are currently 456,151 students receiving loans from the fund. 

Eligibility: Applicants must be Malaysian citizens, full-time students pursuing a first-degree or diploma programme in any public or private institution of higher learning. However, the course must be approved by the private education department and the National Accreditation Board. Applicants must not be recipients of other scholarships or sponsorships.  

Automatic approval is granted to children of civil servants, uniformed bodies and pensioners. 

Conditions: To retain the loans, students must ensure they pass all examinations and maintain a Cumulative Grade Point Average of not less than 2.0. 

Loan Amount: The loan amount varies according to the course and the option. Public university students can get a full loan of RM5,000 to RM6,500 a year (depending on whether they are a science or arts student); a partial loan of RM2,500 to RM3,000; or a tuition fee loan of RM1,000 to RM1,800. Private college students are eligible for full loans of RM16,000 to RM20,000; partial loans of RM13,000 and tuition fee loans up to RM10,000 for degree programmes. Diploma students in private institutions are eligible for loans of up to RM5,000. (See www.ptptn.gov.my for full details) 

Interest rate: 3% 

Repayment: Monthly instalments will include administration cost of 4% based on reducing balance. The repayments will commence six months after graduation or upon securing a job, whichever is earlier. Payments have to be made through the Inland Revenue Board Malaysia. Alternate methods of payment will need to be approved by NHEFC. 

How to apply: Students from private colleges who wish to apply for the loans can obtain the forms from their respective colleges or send in a self-addressed envelope to the fund’s office at:  

Perbadanan Tabung Pendidikan Tinggi Nasional, Lot G2, Tingkat Bawah, Wisma Chase Perdana, Off Jalan Semantan, Damansara Heights, 50490 Kuala Lumpur 

Contact: NHEFC office at 03-2098 3737 or 03-2098 3731  

Deadline: No specific deadline 

4. Dong Jiaozong University Study Loan 


The Dong Jiaozong University offers 20 to 30 education loans to students of Chinese Independent schools with the Unified Examination Certificate (UEC) qualification who intend to pursue degree courses at local or foreign universities. 

Eligibility: Open to those with UEC qualification pursuing the following areas of study: accounting, art and design, business, economics and administration, computer science, engineering and technical courses, hotel management and hospitality, Information Technology, languages studies, law, mass communication, medical studies, sciences and secretarial studies. 

Loan Amount: RM5,000 to RM8,000 per annum 

Interest: None 

Guarantor/collateral: Three guarantors are required. 

Repayment: Begins immediately after graduation. 

Contact: Dong Jiaozong Scholarship Committee, Bangunan Dong Jiaozong, Lot 5, Seksyen 10, Jalan Bukit, 43000 Kajang, Selangor. 

Deadline: June 12 

5. Bumiputra-Commerce Bank Bhd (BCB 


Eligibility: Eligible students plus parents/guardians with adequate repayment capacity. 

Loan amount: 100% of fees 

Guarantors: One guarantor of adequate repayment capacity is required for part-time student. 

Interest: BLR + 1.5% p.a. monthly 

Repayment: Local courses – first five years, monthly interest servicing; remaining five years, monthly instalments until full settlement of loan. 

Foreign courses: Instalment to commence after one month of full drawdown. 

Twinning courses: Follows either local courses or foreign courses.  

How to apply: Any BCB branch. 

Contact: Call customer service hotline at 1-300-880-900 from 7am to 11pm daily. Or visit any local BCB branch to speak to its officers. 

6. United Overseas Bank  

The UOB U Education Loan is a comprehensive education package designed to take care of a student’s financial needs. It includes financing of tuition fees and living expenses.  

Eligibility: Undergraduate – U Club members aged 18 to 25; full-time student of an undergraduate programme at an accredited educational institution; postgraduate – UOB accountholders aged 40 and below; full or part-time student of a postgraduate programme at an accredited educational institution. 

Benefits: High margin of financing, insurance coverage at a very affordable rate. 

Loan tenure: Undergraduate: 3-10 years, longer period for medicine (up to 12 years); postgraduate: 3-7 years 

Loan amount: Up to 100% of the tuition fee, living expenses up to a maximum of RM300 per month (for undergraduates only) 

Guarantors: No guarantors needed. Applicant must provide a co-borrower(s) who is 55 years old and below. The co-borrower(s) needs to be an immediate family member, that is, father, mother, sister or brother. Extended family members (uncle, aunt or cousin) may be considered. A maximum of two co-borrowers are allowed per application. 

Interest: Unsecured loan – BLR + 1.75% (with a maximum of two co-borrowers) 

Secured loan – ranges from BLR + 0.75% (Fixed Deposit) to BLR + 1-1.5% (depending on property value) 

Repayment: Minimum three years up to a maximum of 12 years. Option 1: students pay only monthly interest during course period and commence monthly principal instalment after graduation. Option 2: Pay both monthly interest and instalment right after the bank disburses the first sum of loan amount. 

Contact: United Overseas Bank (Malaysia) Bhd, Level 4, Menara UOB, Jln Raja Laut, P O Box 11212, 50738 Kuala Lumpur. Tel:03-2772 6054, Fax:03-2691 1345. 

7. Koperasi Jayadiri Malaysia Bhd (Kojadi  

Kojadi has 11 loan schemes under its loan programme to cater for a wide spectrum of education courses ranging from vocational and technical to undergraduate and postgraduate studies.  

Eligibility: The applicant must be a member of Kojadi with RM100 initial shares. The applicant must hold the requisite additional shares ranging from RM500 to RM2,000 shares for each child. The applicant must nominate a child/nominee under a relevant loan scheme. The nominated child/nominee must have gained admission to an approved institution of higher learning locally or abroad. 

Loan amount: The maximum loan amount is RM30,000. It is released in two or three disbursements spread over the duration of the course of study. 

Guarantors: Two to three. (Income tax J form must be submitted) 

Interest: 8% or 9% per annum calculated on monthly rest basis. Interest will be charged to the applicant's loan account immediately after the disbursement of the loan. For loan amount above RM20,000, the loan member is required to service the monthly loan interest of RM100 to RM300.  

For a loan amount below RM20,000, a loan member is encouraged to service the loan interest and/or make prepayments in order to reduce the accumulation of interest while the loan beneficiary is still studying. 

Repayment: The repayment of the loan will begin three or six months after graduation and the maximum repayment period shall not exceed eight years. Depending on the amount of loan and the type of the loan, repayment will be as follows: first year - RM200 or RM300 per month; second year - RM300 or RM400 per month; and third year - RM400 or RM500 & above per month until full settlement. Borrowers can choose to pay in equal monthly instalments until full settlement.  

How to apply: Complete a prescribed loan application form. Submit the loan documents.  

Contact: Kojadi, 17th Floor, Wisma MCA, 163 Jalan Ampang, 50450 Kuala Lumpur. Tel: 03-21616499. 

8. Bank Kerjasama Rakyat (Bank Rakyat 

Type of loan: Al-Falah Education Financing Scheme  

Eigibility: Malaysian citizen aged 18-60 who has not been declared a bankrupt. Part-time and full-time students. Students without a fixed income must apply through parents, spouse, siblings or legal guardians.  

Loan amount: Maximum RM50,000 (without collateral) or unlimited financing (with collateral). Covers tuition fees, living costs, books and other educational expenses. 

Loan tenure: 2-10 years  

Guarantors: One guarantor - government servant. 

Two guarantors for application without collateral and for private sector employees 

Interest: 6.7%-7.2% (members) 7.2%-7.7% (non-members) 

Repayment: From RM225 per month for a RM5,000 loan for a two year period to RM599 for a RM50,000 loan over 10 years. 

How to apply: Go to any of Bank Rakyat's 100 branches with relevant documents including pay slips, letter from employer, utility bills, etc 

Contact: Bank Rakyat, Jalan Tangsi, PO Box 11024, 50732 Kuala Lumpur. Tel : 03-26129600 Fax : 03-26129655 

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