Student Loans

This page is dedicated to the service of education loan, a financial solution that helps applicants pay for higher education and college education in Malaysia. Loan terms are flexible, with deferred repayments and reduced interest rate. Contact us and find out how you can quickly get the amount of money you need for your desired degree.

What Is an Education Loan?

A loan for students is a loan designed to pay for tuition at a college, university or other educational institution. It is characterized by favorable terms: reduced interest rates, delayed start of payments and flexible repayment schedules. 

  1. Purpose: used strictly for tuition, dormitory fees, textbooks, and other education-related expenses.
  2. Deferred repayment.
  3. Interest rate: lower than consumer loans.
  4. Guarantees and government participation: often provided with the support of government programs or with a guarantee.

Today, an education loan is relevant for students in bachelor's, master's or other programs who are unable to pay tuition fees immediately; parents who want to invest in their children's education; and applicants entering local or foreign universities.

Education loan in Malaysia is an opportunity to realize the dream of a successful profession due to financial constraints. You can get a quality education now and pay for it later. 

Benefits and Features

Each student loan is created with the needs of borrowers in mind, so such loans are much more convenient and favorable than conventional consumer loans. The main advantages that make this financial product particularly attractive include: 

  1. Low interest rates

It is possible due to government support or participation in educational programs, special conditions from banks and partner universities, the possibility of deferred accrual of interest during study.

  1. Flexible repayment terms

Most programs provide for a deferred start of repayment until the end of the educational process or up to 6-12 months after graduation. You can choose a repayment schedule: equal payments, annuity, accelerated repayment. You may only pay interest while you are studying.

  1. Simple application process

Electronic application is submitted through the website or app, documents are also uploaded online. It takes 1 to 3 business days to review the application. Then, the contract is signed and funds are transferred to the university account.

  1. Customer support

There is a hotline with consultants, online chat and e-mail support for questions about loans. All those interested can get consultations on the choice of study programs, calculation of payments and terms of loan repayment.

Today, student loans are a profitable investment in the future, made on clear, fair and affordable terms. 

Eligibility Criteria

The cost of studying in English in Malaysia is much lower than in neighboring Singapore: prices start from 6,000 USD/year, and this attracts foreigners from all over the world. To get a student loan, you need to meet certain requirements and prepare a number of documents.

The loan can be issued to the student himself or to one of his parents.

Basic conditions: 

Age

18 years of age or older (some banks allow 16 years of age with a parental guarantee)

Nationality

citizen or officially registered resident of the country

Proof of enrollment

availability of an official document from an educational institution

Financial solvency

guarantor or proof of stable income

The application typically requires:

  • ID of the borrower (and guarantor, if available);
  • income documents;
  • certificate of enrollment in the university or a copy of the order;
  • details of the university or training agreement.

It is possible in some banks to submit documents online, with their subsequent confirmation at an offline interview.

Stages of application:

  1. Filling out the online form on the bank's website with truthful information.
  2. Preliminary approval after checking the application form and credit history (within 1-3 days).
  3. Confirmation of documents and signing the preliminary agreement.
  4. Signing of the agreement and receipt of funds to the borrower's account.

Some banks allow you to automatically pay your tuition fees directly without transferring them to your personal account.

Education loan Malaysia is an affordable solution for those who want to study but are temporarily financially constrained. The main thing is to read the terms and conditions of the agreement carefully, and strictly observe the repayment terms in the future.