Archive for the ‘Scholarships and Loans’ Category

PTPTN uses CCRIS to ensure that loan takers settle their dues accordingly.

Sunday, April 23rd, 2017

PETALING JAYA: It’s an acronym that loan takers of the National Higher Education Fund Corporation (PTPTN) should be aware of.

CCRIS, or the Central Credit Reference Information System, has a list of their names to ensure that these borrowers repay their loans accordingly.

“If they are good paymasters, borrowers will have a good record (in the CCRIS). They will have no pro­blem when they apply for new loans.

“Their names will be taken off the list once they have fully settled their PTPTN loans,” PTPTN deputy CEO (Policy and Operations) Mastura Mohd Khalid (pic) said.

CCRIS is a database used by financial institutions to evaluate those who apply for loans.

She said all PTPTN borrowers would be listed in the CCRIS once it is time for them to start paying back, which is six months after graduation.

Mastura said PTPTN started to use CCRIS in June 2015.

PUTRAJAYA, 13 April -- Timbalan Ketua Eksekutif Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN), Mastura Mohd Khalid bersama Ketua Pegawai Eksekutif Majlis Profesor Negara (MPN), Prof Datuk Dr Raduan Che Rose (dua, kanan) pada sidang media selepas Sesi Perbincangan Meja Bulat dengan kerjasama MPN hari ini.--fotoBERNAMA (2017) HAK CIPTA TERPELIHARA

When a borrower accumulates more than 12 months of PTPTN arrears, she said their names would be sent to the Immi­gration Department which would bar them from leaving the country.

“Having your name on the CCRIS does not amount to a ‘punishment’. Instead, it is a tool that ensures borrowers are disciplined in repaying their loans,” Mastura said.

PTPTN has provided various means to make it more convenient for borrowers to settle their loans.

On April 1 last year, the corporation announced the option of repaying the loans through online withdrawals of the Employees’ Provident Fund (EPF) Account II.

Of the RM680mil PTPTN collected in January and February, repayment through this option made up 12.9% or RM87.94mil.

Mastura said this was done in 48,911 transactions.

Currently, the amount of arrears owed to PTPTN is about RM7.8bil.

“I believe borrowers would choose to repay their loans through their EPF Account II to clear the arrears before they restructure their loan to ensure they have a clean record in the CCRIS,” she said.

Prior to the option of online withdrawal from their EPF accounts, borrowers had to take out their savings by filling up forms at EPF offices.

In a statement on Friday, PTPTN chairman Datuk Dr Shamsul Anuar Nasarah said: “There is indeed a significant increase in the amount of repayment received through borrowers’ EPF account II in October, November and December 2016.

“This came up to more than RM100mil each month.

“Overall, from RM3.4bil in repayments received last year, only 32% of it was repaid through borrowers’ EPF Account II.”

Shamsul’s comments was in refe­rence to EPF’s 2016 annual report, which stated that withdrawals for “education” was at RM1.4bil last year, up 152% from RM578mil previously.

EPF chief executive officer Datuk Shahril Ridza Ridzuan said much of the increase was due to the settlement of education debts, adding that he was watching this trend closely.

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Start early to save up for tertiary studies

Sunday, November 27th, 2016

SAVING for one’s higher education must always be planned ahead, and not left until the eleventh hour. It is for this purpose that the National Higher Education Fund Corporation (PTPTN) recently launched an enhanced savings scheme called SSPN-i Plus.

SSPN-i Plus serves mainly as an education fund that also provides depositors with medical benefits and other forms of protection.

With the cost of education steadily rising, parents and students must be prepared to meet new demands and developments.

The corporation had earlier stated that parents must create savings accounts for their children at an early age instead of waiting until they were about to enter college.

Saving early helps parents plan for their children’s education and also acts an emergency fund in the event of unexpected situations.

Every individual should allocate some money for their savings and takaful, even if it is just a monthly contribution.

The aim of the scheme is to eliminate the common practice of saving at the last minute.

Introduced in May, SSPN-i Plus was designed as an improvised version of the SSPN-i account as it provides affordable and comprehensive takaful coverage to depositors from as low as RM30 per month.

There are medical benefits to be gained from the SSPN-i Plus savings plan.

Depositors are also eligible to enjoy a tax relief of up to RM12,000 per annum.

PTPTN also encourages the public to seize this opportunity by opening an account or by adding more deposits in either their SSPN-i or SSPN-i Plus accounts before Dec 31 to enjoy the tax relief this year.


Direct debit loan repayments

Sunday, November 13th, 2016
(From left) Bank Islam deputy chief executive officer Khairul Kamarudin, MyClear managing director Peter Schiesser, Wan Ahmad, Zukri and PTPTN deputy chief executive officer (policy and operations) Mastura Mohd Khalid at the signing ceremony.

(From left) Bank Islam deputy chief executive officer Khairul Kamarudin, MyClear managing director Peter Schiesser, Wan Ahmad, Zukri and PTPTN deputy chief executive officer (policy and operations) Mastura Mohd Khalid at the signing ceremony.

NATIONAL Higher Education Fund Corporation (PTPTN) borrowers who make use of directly debiting their monthly repayments from their bank accounts will be able to enjoy a 10% discount on their outstanding debt.

The discount was announced by Prime Minister Datuk Seri Najib Tun Razak in the Budget 2017 speech and will be valid until December 2017.

The Prime Minister also said that a 15% discount on the outstanding debt has been offered for full settlement; 10% for payment of at least 50% of the outstanding debt in a single payment; and 10% for repayment through salary deduction in accordance to the repayment schedule.

PTPTN chief executive Wan Ahmad Wan Yusoff said that thanks to a strategic partnership with Bank Islam, it is now much easier for borrowers to repay their loan with the direct debit facility.

They do not even need to be at the counter or perform Internet banking, he said. The strategic partnership will allow borrowers to finance their loans using a direct debit facility through 22 banks nationwide.

He added that those who are interested need to fill in and submit the original form that has been available at PTPTN counters nationwide since Nov 1.

“It should take about 21 working days for direct debit to begin.”

He also said that individuals do not need to have a Bank Islam account to sign up for direct debit.

“So long as they have a savings or current account with a participating bank, they can use the facility.

“Those with arrears will need to settle their outstanding amount or negotiate a new repayment schedule with PTPTN before they can use the discount,” said Wan Ahmad.

Under this method, he said, everyone can be assured that payments will be done on time and no action will be taken for late payment.

Action which includes having a bad Central Credit Reference Information System (CCRIS) record or being blacklisted by the Immigration Department, he added. He said that since Sept 30, PTPTN has disbursed RM48bil in study loans to almost three million borrowers.

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PTPTN borrowers now blacklisted

Saturday, September 24th, 2016

PETALING JAYA: About 1.3 million PTPTN borrowers listed under the Central Credit Reference Information System (CCRIS) have a black mark on their credit rating because they failed to service their study loans on time, if at all.

National Higher Education Fund Corporation (PTPTN) deputy chief executive officer (policy and operations) Mastura Mohd Khalid said that once blacklisted in CCRIS, one’s credit rating could take a nosedive as one could be deemed a “bad paymaster”.

This can lead to financial institutions denying the person loans or other credit facilities.

She added that all PTPTN borrower would be listed in CCRIS once it was time for them to start paying back, which was six months after graduation.


“Once someone is supposed to start repaying, we will list their names in CCRIS,” she told The Star yesterday.

Since it was formed in 1997 until July this year – a period of almost 20 years – there are 2.49 million PTPTN borrowers.

PTPTN offers loans from diploma studies to PhD level.

However, having one’s name on CCRIS is a neutral thing in itself, as anyone who has a credit card, mortgage, vehicle loan, or any form of borrowing from licensed financial institutions will be listed on this database administered by Bank Negara Malaysia’s Credit Bureau.

“As such, having one’s name on CCRIS does not amount to a ‘punishment’, and those who regularly repay PTPTN need not worry if they are listed in CCRIS as their record would be clean,” said Mastura.

“CCRIS is a database used by financial institutions to evaluate those who apply for loans. If they are good paymasters, then their loan applications will be approved,” she said.

Mastura revealed that since PTPTN started to use CCRIS in 2015, more defaulters have come forward to negotiate for a more lenient repayment mode.


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PTPTN Hope To Appoint 4,000 Agents To Promote SSPN-i-Plus

Wednesday, August 24th, 2016

LENGGONG, Aug 22 (Bernama) — The National Higher Education Fund Corporation (PTPTN) hope to appoint 4,000 online agents by year end to help promote the National Education Scheme (SSPN-i) Plus saving scheme.

SSPN-i Plus, is the best saving plan, combining education saving and a cheap and comprehensive takaful protection package introduced by PTPTN last year.

PTPTN chairman Datuk Shamsul Anuar Nasarah said PTPTN targeted RM2 billion to be deposited into its new product SSPN-i Plus.

Agents appointed by PTPTN would be paid commission if they managed to attract people to open savings accounts.

“SSPN-i Plus offers saving plans through salary deduction for as low as RM30 a month while SSPN-i is a fixed deposit saving for the future,” he told reporters at Dewan Merdeka, here Monday.

Earlier, he handed 238 students in Gerik, Lenggong, Kuala Kangsar and Padang Rengas RM357,000 under the PTPTN scheme.

Shamsul Anuar said since the agents online programme was introduced in May, 2,000 agents had joined the scheme.

He said 1.3 million borrowers who failed to repay their PTPTN loans have been listed in the Central Credit Reference Information System (CCRIS).


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Age limit for postgrad programme revised

Sunday, April 24th, 2016

THE age limit for Master’s and Phd applicants under the Mybrain15 programme has been revised to 35 and 45 respectively as of Jan 1, 2016.

The Higher Education Ministry said in a statement that it wanted to give opportunities to graduates who had not found employment to continue with their studies to master’s and PhD level.

The ministry added that the move was also to encourage graduates, especially those from the younger generation, to further their knowledge and skills before entering into the job market.

“With this move, the government hopes that the country’s aspiration for higher education will be achieved with the improvements to the MyBrain15 scholarship,” it said.

Prime Minister Datuk Seri Najib Tun Razak when presenting the revised 2016 Budget in January, said programmes like MyBrain15, Academic Training Scheme for Bumiputra and Academic Training Scheme of Public Higher Education Institutions would not be stopped.

The MyBrain15 programme was introduced by the Government with the aim to produce 60,000 PhD holders by 2023.

He said the government has agreed to the increase of 15,000 new students for the MyMasters programme and 5,000 for MyPhD.

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Second batch of scholarships

Sunday, January 24th, 2016

We are scholars: The recipients of the scholarship pose for a group photo.

We are scholars: The recipients of the scholarship pose for a group photo.

STUDENTS who score academically usually have opportunities to obtain scholarships, whereas those who do not care for books but excel in sports and other co-curricular activities often do not get a chance to further their education, for lack of funds.

Similarly, good students who are physically challenged might also not get the chance to further their studies.

The Mahasiswa Sultan Ahmad Shah Scholarship Fund aims to offer financial aid to these two groups of students. The RM10mil fund, an initiative of the Sultan of Pahang, Sultan Ahmad Shah, will be given out as scholarships to students who shine in co-curricular activities, as well as those who do well despite their physical disabilities.

Each scholarship will cover the student’s tuition fees for a skill-based or diploma course, or bachelor or master’s degree programme at Limkokwing University of Creative Technology. To be eligible, applicants must obtain at least five credits in their SPM (for the degree programmes), three credits (diploma), or level three Malaysian Skills Certificate (SKM) (for skill courses).

Limkokwing University of Creative Technology vice-president of corporate relations Datuk Fajura Juffa Mohd Mustafa Kamal said that over 200 students will be able to benefit from this scholarship.

“Being a sportsperson himself, the Sultan would like to give opportunities to those who excel in co-curricular activities and sports,” she said.

The Sultan presented scholarships to 19 students at the university’s Hall of Fame.


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RM1bil pledged for education by Jeffrey Cheah Foundation

Friday, December 18th, 2015

PETALING JAYA: The Jeffrey Cheah Foundation will award RM1bil worth of scholarships to deserving students on a staggered basis.

Making the pledge, Sunway Group founder and chairman Tan Sri Jeffrey Cheah said the foundation will continue to provide assistance in the years to come.

“This is in line with the Government’s aim to strive for excellence in the field of education. I aspire to inspire before I expire,” he quipped during a tea session with the media.

Cheah added that through various collaborations, the foundation hoped to tell the world that Malaysia was the best by bringing in the best.

“By working together, we can learn from each other. I hope one day we can win the Nobel Prize even if I do not live to see the day. I created this foundation so that it can continue to serve as a vehicle to strive towards education excellence.”

Citing the latest collaboration with Brasenose College-University of Oxford, Cheah said it will help to elevate teaching and research in the country.

Under the deal, two professors of the University of Oxford will be attached with Sunway University.

Good venture: Principal of Brasenose College John Bowers (left) sharing a light moment with Jeffrey in Petaling Jaya.

As Jeffrey Cheah Professorial Fellows, they will visit at least once a year for a week to give lectures and seminars in their areas of expertise.

Prof William James, a Pro-Vice-Chancellor (Finance and Planning) at Oxford and Fellow in Medicine at Brasenose, is one of the two appointed.

James is also a virologist and principal investigator at the Stem Cell Research Institute of Oxford.

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OCBC Bank Introduces OCBC Earn & Learn Education Loan

Saturday, October 17th, 2015

KUALA LUMPUR, Oct 16 (Bernama) — OCBC Bank (Malaysia) Bhd has introduced the OCBC Earn & Learn Education Loan, Malaysia’s first study loan featuring a fixed deposit as collateral.

The loan offers students up to RM500,000 in financing subject to their fixed deposit placement, allowing them to liberally supplement the maximum amount offered through the National Higher Education Fund Corporation (PTPTN) and minimise the use of Employees Provident Fund savings, it said in a statement today.

Giving an example, Head of Consumer Financial Services Lim Wyson said a person holding RM100,000 fixed deposit with OCBC Bank would be eligible to apply for RM200,000 in study loans.

“Additionally, OCBC Bank will now deal directly with the education institution, so a customer won’t need to walk into our branches anymore to provide instructions on progressive disbursements and so forth, but simply bill the bank directly,” he said.

With an interest rate of Base Rate +2.83 per cent per annum, the loan is available for courses at selected education institutions and repayable over a tenure of up to 10 years.


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Last chance to save and earn rewards

Sunday, September 27th, 2015

All smiles: Shamsul Anuar (second from right) presenting prizes to one of the winners.

All smiles: Shamsul Anuar (second from right) presenting prizes to one of the winners.

THE National Higher Education Fund Corporation (PTPTN) serves as a body providing funding services for higher education. But not many are aware of the savings scheme for higher education provided by PTPTN.

“It is not easy for an individual to make saving a natural habit. It is a practice that needs to be encouraged, as many Malaysians have not implemented good financial planning, especially for future education,” said PTPTN chairman Datuk Shamsul Anuar Nasarah.

“With the SSPN-i scheme from PTPTN, parents can start saving for their children while they are still infants, as soon as their birth has been registered,” he added.

As an extra incentive, PTPTN decided to have the Simpanan Bonanza! quarterly draw,X-Tra Bonanza! yearly draw and Simpanan Vaganza prize draw according to zones. “The SSPN-i scheme is to encourage the people to save consistently,” said Shamsul Anuar, when speaking at the prize presentation ceremony for 2015’s first series of theSimpanan Bonanza! dan Vaganza SSPN-i.

“It also enables them to be able to open an account with a small amount that entitles them to PTPTN’s education funding services when the child is offered a place at a public or private university.”

He urged members of the public to take the opportunity to open an SSPN-i account or top up their deposit so they can qualify to win a variety of attractive prizes in theSimpanan Bonanza! and X-Tra Bonanza! lucky draws. The promotion deadline is Sept 30.

For the SSPN-i draw this year, PTPTN is offering luxury prizes such as BMW 320i Sport Edition and Honda HR-V, as well as Proton Iriz, motorcycles, television and various gadgets. The prizes are valued at RM2.1mil in total.

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