This benefit is in the form of loans may be provided to a dependant child of an insured person who:
- Dies as a result of employment injury
- Is in receipt of periodical payments for Permanent Disablement Benefit
- Dies while receiving Invalidity Pension
- Dies before attaining the age of 60 years but has completed a full or a reduced qualifying period
- Is a Invalidity Pension recipient
Applicant Requirements To Qualify
- Applicant must be a dependant to the following :
- Dependent’s Benefit recipient;
- Survivor’s Pension recipient;
- Invalidity Pension recipient;
- Scheduled Permanent Disablement Benefit.
- Less than 21 years old when applying; or If exceeds 21 years, applicant must have received a PERKESO loan before at certificate or diploma level continuously (without suspension due to poor academic performance) and a dependent of the Dependent’s Benefit or Survivor’s Pension recipient ;
- Not married;
- Have received offers to further study at any Institute of Higher Education within the country for first Degree or Diploma, or Malaysian Proficiency Certificate (SKM) Level 1 to 3;
- Had applied for education loan from other agencies but it had been declined;
- Full programme must be within Malaysia;
- Full programme must be based on full time basis;
- Time left to completion of programme when applying must not be less than 1 year;
- The overall cost of the tuition fee must not exceed RM100,000 not inclusive of sustenance allowance;
- For applicants receiving offers from Private Institute of Higher Education, the college or university must have been in operations for at least 2 years and its establishment must have been approved by the Ministry of Higher Education, Malaysia (KPTM);
- For applicants applying at Public Institute of Higher Learning at Diploma or Degree level, courses offered must be approved by the Public Institute of Higher Education Management Department, of the Ministry;
- For applicants applying at Private Institute of Higher Learning at Diploma or Degree level, courses offered must be approved by the Private Institute of Higher Education Management Department, of the Ministry, and receive Full or Provisional Accreditation Certificate from the Malaysian Qualifications Agency (MQA) and is still within its validity period;
- For applicants applying at Malaysian Skills Certificate level 1 to 3, courses offered must result in certification from the Department of Skills Development (DSD), from the Ministry of Human Resource and is still within its validity period;
- Meets full requirements and qualifications for entry, as prescribed by KPTM to enter into the programme. If the qualification by the applicant differs, a confirmation letter that the qualification is equivalent to the minimum requirement set by the Ministry must be obtained from the relevant departments or agencies in item 12 and 13; and
- Family financial capability is insufficient to bear the necessary cost for the education.
ATTENTION:
- The following does not meet the criteria to apply:
- Primary or secondary school students;
- Sibling of Insured Person;
- Matriculation / Pre University / Foundation / Master Degree / PhD students
- Applicants must take full accountability to ensure all necessary documents from the related departments or agencies is included when submitting complete documentation for their application.
- Applicants who have received PERKESO loans before but failed to complete the education programme or cancelled their loan before graduating is disqualified from re-applying unless they have fully paid any outstanding amount from their previous loan.
- Loan disbursement is only given during the education programme period only.
Education Benefit Funding Details
- Education funding in the form of a loan that will include service charge. The applicable service charge is based on the following:
- Borrowers who have accepted the loan offer commencing 1 May 1997 to 31 December 2008 will be charged a service charge rate of 4% per annum on the total outstanding amount. However, from 1 January 2013, the rate has been re-revised to 2%; and
- Borrowers who have accepted the loan offer commencing 1 January 2009 onwards will be charged a service charge rate of 2% per annum on the total outstanding amount.
- The loan has been insured, and the insurance costs has already been factored into the total amount.
- For education benefits at diploma and degree level education, borrowers may apply to convert their loans into scholarships if the final academic results fulfill the conditions set by PERKESO.
How To Apply Education Loan
Education benefit applications should be made online at the official PERKESO website and by submitting the following documents:
- A copy of the latest passport sized picture of the applicant;
- A certified original copy of the applicant’s birth certificate;
- A certified original copy of the applicant’s identification card;
- A certified original copy of the applicant’s academic result for PMR, SPM, STPM, Certificate, Foundation / A-Level / Matriculation / Diploma;
- A certified original copy of the applicant’s high school testimony;
- Original Letter of Offer for placement into an Institute of Higher Education;
- Confirmation letter of registration from the Institute of Higher Education, registration fee receipt or a copy of the student identification card;
- A letter from the Institute of Higher Education following the PERKESO format highlighting the cost and tuition fees for the latest semester.
Education Loan Allocation
- Loan allocation only covers the education cost which include fee for the first semester, education, examination and lab fee for each semester while other fees are not covered by PERKESO.
- No allocation of sustenance allowance for student is provided.
| Education Cost | Rate |
|---|---|
| Fees include : 1) Registration fee for the first semester; 2) Education fee; 3) Examination fee; and 4) Lab fee |
|
Education Benefit Agreement Documents
Applicants who have accepted the offer for the education benefit must secure guarantors and joint sign the education loan agreement documents.
Eligibility to be a guarantor :
- Malaysian citizenship
- Number of guarantor and minimum income level of each guarantor commensurate with the approved loan amount:
- Amount less than RM100,000.00
- Two (2) guarantors;
- Net monthly income (after deductions) of not less than RM1,500.00;
- Minimum employment period with current employee: 2 years; and
- Permanent employment;
- Amount exceeding RM100,000.00
- Three (3) guarantors;
- Net monthly income (after deductions) of not less than RM2,000.00;
- Minimum employment period with current employee: 2 years; and
- Permanent employment.
- Amount less than RM100,000.00
- Minimum age to be a guarantor is subject to the loan amount as set out by the schedule below:
| Loan amount (RM) | Minimum age (not exceeding) |
|---|---|
|
1,000 - 2,500 2,501 - 5,000 5,001 - 7,500 7,501 - 10,000 10,001 - 12,500 12,501 - 15,000 15,001 - 17,500 17,501 - 20,000 20,001 - 22,500 22,501 - 25,000 25,001 - 27,500 27,501 - 50,000 50,001 - 100,000 100,000 Ke atas |
54 years old 53 years old 52 years old 50 years old 50 years old 49 years old 49 years old 48 years old 47 years old 46 years old 46 years old 41 years old 36 years old 31 years old |
- Each guarantor can only guarantee one (1) loan applicant at any one time;
- Guarantor can be either parents, siblings, family members or close friends that have known the applicant for more than 5 years;
- Any guarantors that are self-employed must furnish a copy of the latest 3 years Inland Revenue Board (LHDN) Form B submission that is certified by an officer from the Inland Revenue Board and earn more than RM30,000.00 per year;
- Guarantors who have signed and agreed to be guarantors may not pull out, unless they are disqualified due to conditions set out within the Education Loan Agreement;
- Applicant and guarantors must sign their documents, witnessed by any of the following:-
- Member of Parliament / Senator;
- Any officers that belong to Group A or B from the government or approved agencies or equivalent;
- Officers that belong to the judiciary or legal services such as magistrates, lawyers or oaths commission;
- Public school headmaster;
- Police officers who are ranked SI and above / Military officers ranked Captain and above (or its equivalent);
- PERKESO officers who are Grade 19 and above;
- Village head / Justice of Peace / Warden/ village elder / community leaders / Sidang(Councillors)/ county development officer / JKKK Chairman (Village Development and Security Committee);
- For Sabah and Sarawak – ethnic group leader / Native Chief / Captain / Pemanca Councillors / Sabah park officer; and
- Other officers approved by PERKESO from time to time.
Loan Disbursement Methods
- Education loan are disbursed by:
- For tuition fees: Cheques drawn for or credited directly into the institute of higher educations’s account;
- For sustenance allowance: credited directly into the student’s Maybank account; and
- Premium insurans akan dibayar terus kepada Syarikat Insurans.
- Disbursements will be made on a staggered basis for each semester. For the initial disbursement, completed documents must be furnished by the students to PERKESO. For subsequent disbursements, students must submit latest examination results for the semester.
- Disbursements are made on a staggered basis to ensure that the students continue to perform well academically. By submitting the examination results, PERKESO will be able to monitor the student performance.
- Should the student fail to achieve a minimum Cumulative Grade Point Average (CGPA) of 2.00, the education loan disbursement for the upcoming semester will be suspended temporarily until the student has attended a counselling session conducted by PERKESO counsellors.
Education Loan Repayment Installment
- Loans must be paid inclusive of service charges by the borrower on instalment basis adhering to the loan tenure as determined by PERKESO commencing after the twelfth (12) month from the final month of which the borrower receives the final disbursement of the education benefit.
- Education loan payback period is based on the amount disbursed, based on the following schedule :
| Loan amount (RM) | Loan tenure (years) |
|---|---|
|
1,000 - 2,500 2,501 - 5,000 5,001 - 7,500 7,501 - 10,000 10,001 - 12,500 12,501 - 15,000 15,001 - 17,500 17,501 - 20,000 20,001 - 22,500 22,501 - 25,000 25,001 - 27,500 27,501 - 50,000 50,001 - 100,000 More than 100,000 |
2 years 3 years 4 years 5 years 3 months 5 years 5 months 6 years 6 months 7 years 8 years 8 years 5 months 9 years 4 months 10 years 15 years 20 years 25 years |
- First instalment shall be due on the first day of the twelfth month from the month of the final loan disbursement.
Channels To Pay The Education Benefit
| Bil. | Channel | Details |
|---|---|---|
| 1 | Cheques / Bank Drafts / Money Orders |
|
| 2 | Internet banking (Maybank2U.com) |
|
| 3 | Maybank Auto Teller Machines (ATM) |
|
| 4 | Direct Debit Instruction via Maybank accounts |
|
| 5 | Education Withdrawal through EPF |
|
ATTENTION :
- Please submit payment slips, Payment via ATM Registration Forms and Direct Debit Instruction to the following address :
- Pengurus,
Unit Pinjaman Pendidikan, Cawangan Faedah, Bahagian Operasi, Tingkat 14,
Menara PERKESO; No. 281 Jalan Ampang, 50538 Kuala Lumpur.
No. Fax : 03-4256 3534
- All of the above payment channels (via counter, ATM, Internet banking, and Direct Debit) can only be done with MAYBANK .
- Other payment services such as Standing Instructions, Cash Deposit Machines (CDM), and Cheque Deposit Machines are NOT ACCEPTED .
- Each online payment made will be charged by the bank.
- All copies of bank in slips / payment receipts should be kept for future reference and proof of payment
- Any enquiries regarding repayment of PERKESO education benefits should be directed to the PERKESO Education benefit Unit at 03-4264 5543 /5159/5329/5341/5316.
REMINDER :
PERKESO will take civil action against the defaulting borrower and the guarantor who fail to pay their educationloan. All legal costs and advertising costs related to loans will be borne by the borrower. To avoid any action taken against the borrower and guarantor, please make payments accordingly.