2 Cents of How Financial Assistance Helps Fund Your Studies

cost of higher education

Are you thrilled to be starting a whole new phase in your life?

Deciding to pursue your studies is exciting, but the costs can be frustrating. As you feverishly flip between college websites, you might ask, How will I afford all this?

  1. The Choice of university,
  2. The Locality,
  3. The types of courses, and
  4. The popularity of your study field

These are a few factors that can drastically affect your tuition fees.

If you are a student fresh out of high school, it is understandable that finances might be tight. Hence, you will need help from your parents or a professional.

Besides tuition fees, the cost of higher education can also include

  • living expenses
  • accommodation and
  • miscellaneous study expenses

Indeed, these expenses can be a massive obstacle to achieving your ambitions.

The key question is: Are you going to let it?

Come! Bring out the abacus! In this article, we will review the financial assistance available to cover the costs. We will also touch on things to consider before applying for higher education in Malaysia.

How to Cover the Cost of Higher Education

paying with financial assistance
Photo by Karolina Grabowska on Pexels.com


A scholarship is an award of financial aid for students to further their studies. It can come with partial or full coverage.

Besides, the providers select their recipients based on a set of criteria. These criteria often reflect the values and purposes of the donors. They may include:

  • exemplary achievements,
  • affiliations,
  • ability,
  • and more.

Scholarships can come from the government, organisations, individuals, or the university itself.

Here are a few examples:

  1. Sunway Medical Centre
  2. Taylor’s University
  3. Multimedia University (MMU)


The term grant is always used interchangeably with scholarship.

While scholarships are often based on merit, a grant is awarded based on the applicant’s need. That can mean

  • family income,
  • purpose,
  • background or
  • The award has a specific target to meet.

Here are two examples:

  1. Yayasan KLK
  2. Amcorp Group Berhad


A study loan is financial aid specifically for your tertiary education. Many students and parents often see them as a form of “good debt” or an investment for the future. Why is that?

These loans usually come with a few pluses. It has

  1. Lower interest rates,
  2. A quicker approval process and
  3. A flexible repayment option.

Hence, graduates can begin repaying the loan upon graduation and after getting a full-time job.

The most common study loan provider in Malaysia is PTPTN.
While PTPTN is a popular option, private organisations also offer study loans. For example, the ECM Libra Foundation.

To secure a study loan, do reach out to the organisations in question and your university representatives about the process.

(If you need a guide to apply for a PTPTN loan, here is an article for you!)


Crowdfunding has been around for some time now, but it is no stranger to the higher education scene. This method involves collecting funds from loved ones or the public to pay for your tuition.

Students can opt to raise their study funds through crowdfunding platforms, like Skolafund.

3 Things to Consider Before Applying for Financial Assistance

woman working in home office
Photo by Ivan Samkov on Pexels.com

Eligibility and qualifications required

“I have my options now; I will apply for financial aid!” WAIT!

There are a few other things to do before you get to that step.

  1. Before applying, determine the field of study that interests you.
  2. Then, create a list of universities that offer these courses.
    • Keep an eye out for the financial support available.
  3. Check their requirements.
    • Each financial aid programme has a set of criteria you would have to meet.
    • Among them are:
      • Academic achievements,
      • Extracurricular activities,
      • Financial backgrounds,
      • Affiliations, and more!

Tips For Your Application:

  1. Read the fine print carefully.
    • Make sure you understand all the terms and conditions.
    • Then, submit the required supporting documents to increase your chances of securing aid.
  2. Plan your finances.
    • While it’s tempting to apply and pick every option you get, having a strategic plan always gives you a clearer direction.
  3. Do not forget to take note of their application deadlines and plan accordingly.

Coverage and conditions of financial assistance provided

Create a list of essential expenses you will incur during your studies.
(Yes, we mean everything.) (This includes the rent, food, transportation and basic care.)

Before accepting an offer, ensure that you are clear on the conditions set.
For example, certain financial aid requires a recipient to maintain a certain grade for continued funding.

Do cross-check it with the financial aid on the offer and note what the funding includes. These conditions should be present on the contract, be it in print or digitally.

Getting financial assistance takes time

The wait for financial aid can be daunting. Yet, these processes take time, so patience is key.

In the interim, you can plan out activities that might give you an edge in the application process. Or, you can also plan out backup alternatives should your first choice fail to go through.

Whatever your options may be, you are not alone in this.

Uni Enrol has vetted a list of scholarships and grants that you can browse through. If there is something you would like to know more about, contact our counsellors! They can help you get all the information you need.