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- The borrower is encouraged to pay back the loan without waiting for the letter of claim. The period of loan repayment is based on the total loan taken as follows:
- RM10,000 and below - 60 months
- RM10,001 to RM22,000 - 120 months
- RM22,001 to RM50,000 - 180 months
- RM50,001 and above - 240 months
- Administrative costs of 4% annually will be charged on the date of loan repayment up to 31st December 2003. From 1st January 2004, the administrative cost is reduced to 3% annually on the remaining monthly loan.
- Administrative costs will be calculated 6 months after completion of study or termination of loan as specified in the signed agreement. No reduction is given in administrative cost.
- Deferment of repayment can be considered for borrowers who continue their studies or who are not yet working by submitting an application. However, administrative cost will be charged during the period of deferment.
- Administrative costs will be waived for full repayment of loan within 6 months.
- Exemption of repayment will only be considered for borrowers who obtain first class honours for loans approved prior to 1st July 2005 ONLY by submitting an application.
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