Monday, November 16, 2009

Malaysia Government Student Loans (ptptn)?

Is PTPTN the only student loan available from the government?





Also, my friend qualified for almost $10,000.00 USD student loan from the Malaysian Government.





I thought the government only loans out to students who come from lower to average income families?





And regarding repayment of these loans: Is it true you can't leave the country until the entire amount is paid for?





If my friend who comes from a wealthy family took out a government student loan and is still repaying it, does that mean my friend might be lying to me about coming from a wealthy family?





My friend said she refused to have her parents to pay for her university education, so she took a government loan. If you are wealthy, wouldn't you take a loan from the bank instead?





I thought all government student loans are for lower to average income families?





My friend's parents are wealthy, so how was this possible?

Malaysia Government Student Loans (ptptn)?
This PTPTN Study Loans program was established in 1999 and is mainly focused on students who have gained admission to local universities but are unable to further their studies due to financial constraints.





***PTPTN will evaluate the financial background of the applicant's family before approving the application.





To me the PTPTN is all bullshit!And the loans that they gives out are all based on racist tags.





But do correct me if i am wrong, your "friend" is a "Bumiputera" am i right?ANd youre a "non-bumiputera"
Reply:*Is PTPTN the only student loan available from the government?





That one confuses me a little. I've never heard of PTPTN, the only federal aid program I know if the FAFSA.





*Also, my friend qualified for almost $10,000.00 USD student loan from the Malaysian Government.





Why would the Malaysian Government give out scholarships? Is your friend in Malaysia? If not, it's probably a scam.





*I thought the government only loans out to students who come from lower to average income families?





When you file the FAFSA, they calculate the expense of the college in comparison with your income (or your family's income). This could give anyone the opportunity to get a loan.





*And regarding repayment of these loans: Is it true you can't leave the country until the entire amount is paid for?





That one, I doubt it, but check the FAFSA website to be sure. If this is true, this means that any credit card debt would prevent someone from leaving the country, and that obviously isn't true!





*If my friend who comes from a wealthy family took out a government student loan and is still repaying it, does that mean my friend might be lying to me about coming from a wealthy family?





Nope. Like I mention before, if your friend is rich, consider the school---does it have high tuition expenses? If so, then the calculated EFC (expected family contribution) is less than the tuition rates of the school.





*My friend said she refused to have her parents to pay for her university education, so she took a government loan. If you are wealthy, wouldn't you take a loan from the bank instead?





No. Most banks don't offer student loans unless you take it from a private vendor (Chase, Astrive) that don't go through the government. Some have the option of giving you the money THROUGH the federal government so you have to pay back that BANK instead of the Dept of Education. Wealth has nothing to do with where you get the loan from.





*I thought all government student loans are for lower to average income families?





Nope. See my explanations above.





*My friend's parents are wealthy, so how was this possible?





Like I said, their income and expected contribution to the child's tuition is in comparison to the tuition rates of the college. If the tuition is really, really high, even rich people could get a loan. It would just be easier to pay the loan back!

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