Loan Application Terms

PREREQUISITES FOR EDUCATION LOAN APPLICATION

  • MiED Study Loan is offered to Malaysian citizens studying in local education institutions or overseas.
     
  • For courses in local education institutions, it needs to be approved by Malaysian Qualifications Agency (MQA), whereas all overseas courses require certification from Jabatan Perkhidmatan Awam (JPA). For professional courses, relevant Professional Qualifying Agency in Malaysia who controls and monitor such profession should approve the course.
     
  • Preferences will be given to students who get admission into Kolej Tafe Seremban and AIMST University.
     
  • Students are advised to apply PTPTN loan and provide details of their application to support this loan application.
     
  • MiED will charge interest at the rate of 4% per annum after the duration of the course until the loan is repaid.
     
  • All applicants are required to submit the copy of offer letter from the education institution that confirms the eligibility of the applicant in the course chosen.
     
  • All MiED loan applicants must fulfil the following criteria:
      a) 4 credits including English and Mathematic at SPM level for Diploma Programmes
      b) 3 Principal D and above at STPM or equivalent level for Graduate Programmes
     
  • The student only eligible to apply for MiED Loan from 2nd year onwards (MiED won’t give priority to student who are perusing foundation, A-Level / studying in the first year).
     
  • Only tuition fees will be considered for MiED Loan.
     
  • Loans are approved on yearly basis upon submission of Loan application form and academic results.

 

HOW TO APPLY MIED LOAN

  • Loan forms are available from 16th July 2012 and the closing date is 15th August 2012.
  • Loan forms can be downloaded from our website www.mied.com.my
  • Forms also can be obtained from MiED office from Monday to Friday between 09:00 – 05:30.
  • Complete a prescribed loan application form.
  • Submit the relevant loan documents.


LOAN DOCUMENTS

  • Submit certified photo copies of the following documents :
  • Photocopy of NRIC (Applicant)
  • Photocopy of NRIC (2 Guarantors)
  • Passport size photo
  • Academic Results
  • SPM
  • STPM
  • Other Qualifications
  • School Leaving Certificate
  • Testimonial (school/ college)
  • Copy of Offer Letter from approved institution
  • Course Fee Structure from university/ college
  • Photocopy of Student ID
  • No Objection Certificate (NOC) – only for overseas students
  • Photocopy of Salary Slip of 2 Guarantors
  • Any other documents as may be required from time to time

 

LOAN APPROVAL & DOCUMENTS

  • The application result and the loan amount is the sole discretion of the MiED Board.
  • When the loan is approved, an OFFER LETTER will be sent to the applicant.
  • Applicant is then required to complete and submit the necessary loan agreement and the documents within 2 months.
  • The loan agreement must be jointly signed by the applicant and 2 guarantors with MiED.  One guarantor can be a family member and the other one must be outsider. Both guarantor’s age must be below 50 years and should not be blacklisted by any financial institution.

 

       LOAN DISBURSEMENT

  • Loan only will be disbursed after ALL the loan documents have been received by MiED
  • The payment of loan will be made to the Education Institution Treasury Office.
  • All successful loan applicants are insured against personal accident and the premium is charged to the loan account. Insurance details are available at our web site.

 

       REPAYMENT OF LOAN 

  • Prompt repayment of the loan will enable MiED to give similar financial aid to the other students for their further study.
  • The repayment of loan will commence 6 months after the duration of the course funded by MiED.  

Loan Amount up to (in RM)

Minimum Instalment per month (in RM)

Maximum number of Instalments

5000

250

24

10000

300

48

15000

350

60

20000

350

84

50000

850

84

  • Applicant is required to pay for all expenses in connection with recovery of loan amount if they failed to adhere the terms and conditions of the repayment.

 

FURTHER INFORMATION

The above particulars are subject to change. For further information, please contact our office at:

MAJU INSTITUTE OF EDUCATIONAL DEVELOPMENT
1st FLOOR MENARA MANICKAVASAGAM
NO.1, JALAN RAHMAT
50350 KUALA LUMPUR

TEL: 03-40452689 / 03-40503107
FAX: 03-40456377 / 03-40445949

Office Hours:  Monday – Friday (09.00am – 5.30pm)
                          (Closed on Saturday, Sunday & Public Holiday)

 

 


      MIED Loan Application is Closed.