Study Loan (Student Loan)

A study loan is designed to help students pay for university tuition, books, and living expenses. It may differ from other types of loans in that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in school.

In Malaysia, funding for study loan not necessary from bank, it could be from the government or an organisation, there are several types of education funding that you can find. With a myriad of information floating out there and very little order to govern them, it can be hard to know what loans are available for you. There are mainly three types of loans for undergraduate students in Malaysia: Bank Education Loans, Government Education Loans, and Other Education Loans. Some universities or colleges might also offer loans, but usually in partnership with a financial institution.

Not all banks in Malaysia offer loans for education. Most of them provide personal loans, which are basically credit for customers granted for personal use, including education. From our research, Bank Rakyat offers a specific education financing in Malaysia called Education Financing-I Falah. For those of you who don’t know, Bank Rakyat is the biggest Islamic cooperative bank in Malaysia.

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