Education is a worthwhile investment for students and parents alike. Be prepared to put aside a monthly sum to cover the costs of education, accommodation and living expenses.
There are several funding aids available for Malaysian students.
- Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN)
All students who meet the program entry criteria can apply for the national study loan from PTPTN. However, PTPTN provides only partial assistance, the quantum of which varies based on the level of household income. Any shortfall is to be covered by the parents.
- Education Foundations
For students who may need further assistance, we can assist you to apply to several education foundations. However, these foundations apply very strict conditions for applicants. Since the funds sizes are limited, they are usually set aside for high performing students, with SPM results of not less than 5As and continuous semester GPA of more than 3.75.
- Zakat Bodies
This fund applies to indigent and poor Muslim students only. We can assist and guide qualified students to apply for some zakat assistance from zakat agencies of their states. Unfortunately, the quantum may be small and limited to assistance during registration.
- EPF Savings of Parents
Parents are allowed to withdraw some amount from their EPF savings Account 2 for their children’s education costs. Just like zakat, EPF withdrawals have to be done at the accountholder’s respective state branch.