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Wednesday, October 05, 2016

Get The Financial Support You Need to Fund Your Education

Get The Financial Support You Need to Fund Your Education

Guest post by Mark De Jesus (Share your favourite tips with 50,000+ Malaysian students)

The opportunity to study in a university hangs in the air but yet there are so many of us who fail to grab this opportunity. Why is that so? For starters, the high price tag of a tertiary education can be a huge turn-off for many. Add this to the growing list of expenses, which include lodging, administration fees, books, meals and so on. Getting a higher education opens doors to a promising future, so don’t allow the financial side of this to throw you off from pursuing your dream.
Malaysia Students Financial Support Tips

To help you out, here are some funding ideas in Malaysia you can look into:

Scholarship for Malaysian students

The National Higher Education Fund Corporation or Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) is an agency under the Ministry of Education that is authorised to provide study loans to eligible students who want to pursue their tertiary education. A qualified student can avail up to RM16,000 per year for a diploma course. Admission to this scholarship is subject to the PTPTN officer’s approval upon submission of the required documents. Students are encouraged to apply for this scholarship once they passed into an approved degree course at a local or private university. You may read this article to learn more about PTPTN.

Student financial loans and grants

Student loans and grants are given to eligible students by foundations, private companies, government and non-government organisations. However, there is a difference between these two entities. Loans are usually borrowed funds and must be paid back at a specific time with added interest cost. Meanwhile, grants are awarded to students based on proof of their financial needs. Grants are non-repayable like scholarships.

Tuition fee discount

Many universities offer discount schemes of more than 50% on tuition fees for students who can maintain a particular grade every semester of an academic year. The amount of discount varies depending on the grade. In short, the higher the grade, the bigger the discount. This is a win-win situation for both the school and the student. The students will be motivated to excel while the school aids the less fortunate but bright students to study.

Student assistant jobs

Working on part-time jobs at the university is a good way to generate income while studying. There are professors who need a hand when doing research, checking test papers, and other paper works. You will just need to devote a few hours of your time for these tasks. You are not limited to work inside the campus, you can try freelancing and online jobs like writing and editing documents.

Now that you know the different options you have to fund your college education, it’s time to get acquainted with other tips that can help you score the best financial aid in Malaysia:
  • Follow social media channels of institutions, companies, and organisations that can possibly provide scholarships, student loans, or grants. You will get updates when they have opened their fund for new entries, and other relevant news.
  • Take a chance on referrals! Ask your friends or even tap into your social media accounts and post a status that you are looking to apply for a scholarship. A friend of a friend may refer you to something worthwhile!
  • Subscribe to newsletters and mailing lists of companies that might give away scholarships to qualified students.
  • Do your rounds inside the campus and browse bulletin boards for postings about scholarships, students loans, and job opportunities.
  • Take note of deadlines for requirement submission. This will prevent you from cramming and you will have time to plan your schedule to meet these requirements.
  • Look out in the news for any individuals who consistently give back to the community and help fund students from low-income groups to further their studies.
It will entail a lot of patience and perseverance when applying for financial assistance for tertiary education. There will be times when you will feel that luck is not on your side. You will need to prove to the individual or organisation that you are worthy of the resources they will invest on you.

When you have successfully made the cut and received the scholarship, keep your priorities straight and make studies your top priority. Remember how much effort you put in to be granted financial assistance, so don’t let this chance slip away.
Mark De Jesus

Written by Mark De Jesus. For more trusted financial advice and tips, visit www.CompareHero.my!
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