Introduction
Continuing your post-SPM studies offers numerous advantages and significantly improves your chances of getting a higher salary. Nevertheless, one of the most challenging obstacles encountered by students contemplating further education is the financial burden caused by rising costs.
One of the ways to lessen this financial burden is by applying for financial aid or scholarships. While some scholarships are contingent upon academic excellence or straight. As in SPM, there are also provisions for others.
Check out the list below to see which scholarships and financial aid align most closely with your aspirations and circumstances!
Government Scholarships And Financial Aid
1. Program Dermasiswa B40 (For Vocational Courses)
Program Dermasiswa B40 in Malaysia was founded in order to reduce the financial burden of students from low-income families so that they can further their education. This financial aid is focused on Diploma courses related to TVET (Technical and Vocational Education and Training) in Public Universities, Polytechnic Institutions and Skills Training Institutions (Institut Latihan Kemahiran Awam).
In order to qualify for this financial aid, one must be a Malaysian citizen whose household income is in the B40 Category and must be currently enrolled in a Diploma programme in Malaysia. Aside from that, students must also maintain a Cumulative Grade Point Average (CGPA) of 3.0 in their diploma.
The application period for Program Dermasiswa B40 is closed for 2023 but make sure to check the JPA website in 2024 and beyond for the next application deadlines and frequently asked questions (FAQs)!
2. State Education Funding – Example: Tabung Kumpulan Wang Biasiswa Negeri SElangor (TKWBNS)
Different states in Malaysia also have different fundings and loans available for further education. One example is Selangor, which has a Tabung Kumpulan Wang Biasiswa Negeri Selangor (TKWBNS). This fund was established by the Selangor Government with the goal of providing funding in the form of an interest free loan to students from Selangor.
The funding given ranges from RM4,000 to RM7,000 a year based on the type of course you choose to study. In order to apply for the loan, one must be a Malaysian who was born in Selangor, or whose parents were born in Selangor and have been residents in Selangor for over 10 years.
Students will be expected to begin repaying their loans 6 months after they have completed their studies. For more information about the Selangor State Education Fund, check out their website for more details and FAQs.
Some of the other state education funds in Malaysia include:
Private Scholarships And Financial Aid
3. Hong Leong Foundation Scholarships
Aside from government financial aid, many private organisations also provide scholarships and aid for students in Malaysia. One such organisation is Hong Leong Foundation. For students planning to study a Diploma or Degree in Malaysia, Hong Leong Foundation offers between RM6,000 to RM32,000 per year depending on your course and institution.
In order to apply for this scholarship, students need to be Malaysian citizens between the age of 17 – 25 years old and score a minimum of 8As in SPM. Interested students can apply through the Hong Leong Foundation website which also provides more details and FAQs regarding the scholarship. Applications start on the 1st of April every year and ends by 31st May.
4. Bank Rakyat – Pembiayaan Pendidikan Boleh Ubah (PPBU)
PPBU is an education Loan offered by Yayasan Bank Rakyat for underprivileged Malaysians who wish to further their education in Malaysia. PPBU is offered for a wide variety of courses such as Skill Certificates, Diplomas, Degrees, Masters and PhDs. Priority for this funding is given to those from B40 backgrounds, and one of the attractive highlights of this loan is that if you score a CGPA of 3.5 and above, you are exempted from repaying the loan! Adding on, if you score between CGPA 3.33 – 3.49, you only need to pay back 10% of the loan amount! Further discounts and exemptions are available and full details can be found on their website.
Loan amounts vary between RM4,920 and RM18,600 depending on your choice of course. Students can apply for this loan through the Yayasan Bank Rakyat website which also lists out more details and FAQs about the loan. Applications are open at different times of the year, so make sure to check the website frequently for the latest updates!
Some of the other private organisations offering scholarships and financial aid in Malaysia include:
Education Institutions’ Scholarships And Financial Aid
5. UCSI University Trust Financial Assistance
If you’re looking for financial aid or a scholarship but you didn’t score straight As in SPM, this could be a great option for you! Students who come from less privileged backgrounds (such as from rural areas in Malaysia, low income families, single parent families, OKU individuals, or if you face any challenging circumstances) are eligible to receive financial assistance to study a Diploma at UCSI University. Successful applicants will receive a 50% discount on their tuition fees!
In order to apply, interested students must submit their application through the UCSI website before their Diploma intake begins. In order to maintain the tuition fee waiver, students must maintain a CGPA of 2.5 throughout their semesters.
For more details and the application form, check out the UCSI website. Diploma programmes in UCSI have different application periods throughout the year, so make sure to apply in time for the financial aid!
6. University Of Technology Sarawak (UTS) Bursary Schemes
If you’re a citizen of Sarawak, we have good news for you! UTS offers discounts on tuition fees if you are from B40 and M40 families! If you fall under this category, UTS offers an 80% discount on tuition fees for Degree Programmes. In order to be eligible for this, students need to score at least a 2.0 CGPA for their Pre-University programme.
There are also 100% bursaries available for Foundation (Pre-University) programmes! The deadline for registration of these bursaries is within 2 weeks of your Course Registration date! For more information, check out the UTS website!
Some of the other financial aid and scholarships offered by educational institutions in Malaysia include:
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