The PTPTN Education Loan Scheme was set up with the aim of providing education loans to students pursuing their studies in local institutions of higher learning (IPT). This loan will enable students to fully or partially pay their fees and their subsistence for the duration of their study in the IPT. Thus, this scheme provides greater opportunities to students to continue their tertiary education.
The scope of the PTPTN education loan facility is open to students pursuing studies at the diploma, first degree, master, doctorate and professional courses levels in IPTs established under the following acts:
Universities and Universities Colleges Act 1971
Institut Teknologi MARA Act 1976
Private Higher Education Institutions Act 1996
Education Act 1996
Starting March 1st, 2007, students pursuing long distance or part-time studies in IPT's at the diploma, first degree, master, doctorate and professional courses levels are eligible to receive PTPTN education loan.
The education financing will be approved if the applicant fullfills the conditions and specified requirement.
Second financing will only be considered if the application meets the following conditions:
Meets the requirements and method of financing applications;
Students who received education financing for prior studies but failed to complete their studies or received other forms of sponsorship may apply for a second financing upon full settlement of the previous financing;
Students who received education financing and successfully completed their prior studies may apply for financing to continue their education to a higher level. Application for the same level of education will not be considered;
Second financing is subject to availability of funds; and
Financing period approved will be effective from the current semester. i.e. when the complete application received by PTPTN..
The financng offer is valid for only 90 days from the date of approval. The agreement documents need to be completed and returned to PTPTN within the validity period, otherwise the offer will be revoked.
The agreement document will be deemed completed only if it is affixed with a revenue stamp. Please ensure that two revenue stamps worth RM10 each are provided.
The offer will be revoked or withdrawn in the event of error/mistake in the offer or falsification of information.
Hence those who joined in the illegal rally should repay the loan in full as soon as possible since they are all for free education.
Tun Dr Mahathir put it in the best way possible when he said that the loan is to help those who are unable to pay for good education or to help the poor.
Therefore, if the students who joined in the illegal rally to demand for the abolishment of PTPTN, they should just reject the loan if they feel like they can pay for the fees on their own accord.
Moreover, it is quite perplexing that the same person who initiated PTPTN when he was in government, namely DSAI, is the same person instigating students to go against it now.
I am sure he is trully mentally unstable.
