Repayment

Subject to the terms and conditions contained in the Study Loan Agreement to be executed between the Foundation and the applicant:

Currently, repayment of the study loan commences six months after you finish the Approved Course of study or whenever you start work, whichever is earlier. Therefore the onus is upon you to inform the Foundation of your status; ie when you finish the Approved Course of study and when you begin employment. However, the Foundation reserves the right to vary the commencement date of the repayment of the study loan and the actual commencement date of repayment of the study loan shall be as stated in the Study Loan Agreement; and
Currently repayment of the loan is over five years and we collect repayment on a yearly basis. The Foundation will send you formal documentations, informing you of the amount due and date of commencement of the repayment of the loan. Notwithstanding anything herein contained, the Foundation reserves the right to vary the duration and/or mode of repayment of the study loan and the actual duration and/or mode of repayment of the study loan shall be as stated in the Study Loan Agreement. Although the loan is interest free, the Foundation will charge you interest for late payment. The interest rate is stated in the Study Loan Agreement.

Footnotes:

The Foundation reserves the right, at its sole and absolute discretion, to approve or disapprove any study loan application, without assigning any reasons whatsoever.
Please take note that, by submitting your application does not guarantee you will automatically be offered the study loan.
The Foundation may grant a study loan of a maximum amount of up to the aggregate sum of RM90,000.00 ONLY (save and except in exceptional cases, to be decided by the Foundation in its sole discretion).
Selection of successful applicants is determined solely by the Foundation based on pre-determined criteria and its internal policy. The Foundation is not obliged to assign any reason for rejection to any unsuccessful student.
The Foundation only grants study loan for professional or vocational courses which fit its pre-determined criteria and internal policy.
The Foundation only grants study loan for applicants to pursue their study in local universities / colleges which fit its pre-determined criteria and internal policy.
The Foundation reserves the absolute right to decide whether any applicant has a good academic record or otherwise, based on its pre-determined criteria and internal policy.
In the event there is any contradiction between the terms and conditions stated on this page and the terms and conditions stated in the Study Loan Agreement, the latter shall prevail.
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