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Is gaining education funds a concerning matter for your future? Indeed, it is. Pursuing tertiary education is a mammoth task for the finance department that can go above RM100,000! But you need not worry.
Students who study in Malaysia have many options to fund their higher education. These options include
- Crowd-funding,
- Borrowing from loved ones, or
- Working a full-time job.
These 3 alternatives take a lot of effort, i.e., financial planning, to execute. On top of that, it could take a while to become an effective funding method.
Here are our 3 most effective funding options for students and simple steps to get them. We will also show you how to combine these options to maximise your financial alternatives!
3 Ways to Effectively Get Your Education Funds
Method 1: Scholarships

Scholarships place the least financial burden on your family. This is because they do not need any repayment from your carers. Instead, it heavily depends on your academic performance.
If you are a high-achiever, they can also reduce your tuition fees by up to 100%! One great example of a complete waiver is IMU’s Merit Scholarship for

Here are 4 simple steps to applying for a scholarship when you study in Malaysia:
- Get an offer letter from your chosen university.
- If you are applying to a private university, you’ll have to pay a registration fee to enrol and get your offer letter.
- Ensure you meet the requirements of the scholarships you’re applying for based on your grades, parents’ financial status, or extracurricular achievements.
- Prepare the required documents for your application, such as
- An offer letter,
- Your result slip or co-curriculum records
- Double-check your scholarship application before sending it.
Method 2: PTPTN Loans

Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) is a government institution that provides education loans. It has a low interest rate of 1%, making it an extremely cost-effective funding option for students.
While you can enjoy fixed loan amounts, the loan you can vary from your peers.
One of its deciding factors is your family’s household income. Thus, what you get can change based on the total earnings. For example, if your parents earn less than RM8,000, you will get 75% of the loan amount.
But, you can also be exempted from paying back the loan. As long as you score a first-class in your studies, that is.
*NOTE: Every institution defines “first-class” differently. Before you begin your payback, remember to look into your university’s requirements.
Further reading:
- Check out our PTPTN guide to find out how to apply for this financial aid.
- To find out more about the PTPTN repayment, click here!
Method 3: Bank Loans

Bank loans have fewer limitations on their loan amount, compared to other financial aids. As such, students can pay for more of their tuition fees and education expenses.
Seems to good to be true? Take a look at what Maybank Education Financing has as an example.
- You get up to RM400,000 of higher financing.
- It covers both local and foreign universities, including twinning programmes. AND
- You can stretch your repayment period for up to 30 years!
- Plus, it also covers all university courses.
- Allowing you to pay for courses that are not typically covered by PTPTN, such as A-level or Foundation courses.
Here is a step-by-step guide to begin your financial planning with a bank loan:
- Ask your parents to help you get a bank loan, and calculate the appropriate loan amount with them.
- The loan application requires a copy of the borrower’s IC and proof of income. Salary slips, bank statements, and EPF statements are examples of proof of income.
- Check beforehand if your bank has additional procedures or documents required for the loan application.
- Apply through a nearby bank branch.
- Wait for the loan approval; banks take a few days to process loans.
Pro Tip:
If you are pursuing courses such as TVET, income from a part-time job can reduce your cost. It also adds value to your resume by giving you work experience!
How To Maximise Your Funding Options
Can you use these funding options together to cover more of your higher education costs? The answer is YES!
At the start of your financial planning, work out how much funding you can get from the different options. Remember, keep your grades and financial situation in mind when you do this. These two factors are crucial in determining the amount. Let’s take a look at 2 possible scenarios.
- You achieved 5As for SPM and come from a low-income family.
- You can get a scholarship to fund a foundation course. Then, finance your degree by borrowing from PTPTN.
- If your SPM grades are low and you come from a family with higher earnings,
- You can consider combining the bank and PTPTN loans.
- For instance, a student who wishes to study for a diploma can fund half the higher education cost with a bank loan. Next, they can pay the remaining amount with a PTPTN loan.
Whichever option you choose, keep in mind that budgeting is key.
Have a clear picture of how much you need to complete a diploma or a degree before deciding which funding option. Better yet, pen it down or tabulate it in an Excel sheet! Inside, add details on what you need to pay for. They can be
- Administrative or Processing fees
- Registration fees
- Living expenses, like food, rent, and transportation,
- Lifestyle costs.
Your financial planning can help you achieve your goal in the long run. If you can, have someone experienced onboard to help you. Best of luck!
Pro Tip:
Use our free tool to find out how you can save by comparing tuition fees for different courses. We also match you with scholarships so you can lower the cost of your Pre-U, diploma or degree course.
Moreover, if you applied through Uni Enrol AND secured your enrolment, you will get an RM300 bursary from us!