Congratulations to the students who achieved excellent results in the SPM examination. Regardless of the results you obtained, remember that they are the product of your hard work and dedication all this time. Let it serve as motivation to keep moving forward.
What are your plans after this?
Based on the results you've received, surely you're aiming to achieve your dream of going to university, right?
PTPTN is always committed to assisting and looking after the welfare of students who wish to further their studies. Therefore, the Loan Advance Payment (WPP) is allocated to help cover students' preparation before enrolling in public universities and polytechnics. Let’s read more about WPP in this article.
What is the Loan Advance Payment (WPP)?
Loan Advance Payment (WPP) PTPTN It is a fund amounting to RM1,500 granted to eligible students before they enroll in public universities or polytechnics. This fund aims to assist students in managing the costs of preparation for their studies, such as registration fees, purchasing books, or other essential needs before their studies begin, as well as to ease the financial burden on parents for their children's entry into public universities or polytechnics.
Contents
- Eligibility Requirements for the Loan Advance Payment (WPP) Application
- How to Apply for the Loan Advance Payment (WPP)?
- How to Check Eligibility for Receiving the Loan Advance Payment (WPP)
- Benefits of the Loan Advance Payment (WPP)
- How to Redeem the Loan Advance Payment (WPP)
- Transfer of the Loan Advance Payment (WPP) to Other Bank Accounts
- Situations That Are Not Allowed
Eligibility Requirements for the Loan Advance Payment (WPP) Application
Students wishing to apply for the Loan Advance Payment (WPP) must meet the following requirements:
- Students have agreed to receive the Loan Advance Payment (WPP) through the UPU system or based on data verification from public universities or polytechnics.
- The student is a Malaysian citizen
- Parents/ Guardians/ Students are recipients of the Rahmah Cash Assistance (STR).
- Students are offered full-time Diploma or Bachelor’s Degree programs at public universities and polytechnics only
- The student does not have any outstanding WPP debt
Starting january 2021, the offer of has been expanded to B40 students enrolled in full-time diploma programs in science and arts at private institutions of higher learning IPTS who agree to accept the WPP offer. Students are required to apply for WPP during the first group of loan application submissions.
The eligibility requirements for applying for IPTS students are as follows:
- The student is a Malaysian citizen
- Parents/ Guardians/ Students are recipients of the Rahmah Cash Assistance (STR).
- Students are offered full-time Full Time Diploma Science and Arts programs at IPTS who agree to accept the WPP offer.
- The student does not have any outstanding WPP debt
- IPTS agrees to accept the WPP offer.
How to Apply for the Loan Advance Payment (WPP)?
The application for the Loan Advance Payment (WPP) can be made when students apply for admission to public universities or polytechnics through the UPU Portal or based on data verification from public universities or polytechnics.
For IPTS students, they are required to apply for the WPP during the first group of loan application submissions.
How to Check Eligibility for Receiving the Loan Advance Payment (WPP)
The status of eligibility to receive the Loan Advance Payment (WPP) can be checked through myPTPTN.
Benefits of the Loan Advance Payment (WPP)
The benefits of the Loan Advance Payment (WPP) include providing initial assistance to students who may face financial difficulties in preparing to start their life at public universities, polytechnics, or private institutions of higher learning (IPTS). This includes:
- Reducing the financial burden on families.
The Loan Advance Payment (WPP) helps alleviate the financial pressure faced by students' families, allowing them to focus on their academic pursuits.
- Facilitating the adjustment to life at public universities, polytechnics, or private institutions of higher learning (IPTS).
With the initial assistance provided, students can more easily adapt to the new life and learning environment at public universities, polytechnics, or private institutions of higher learning (IPTS) without having to worry about financial issues.
- Avoiding emotional stress.
This fund can be used for the purchase of reference books, study materials, or other essential needs required to start studies during the first semester.
How to Redeem the Loan Advance Payment (WPP)
The Loan Advance Payment (WPP) can be redeemed by students at any Bank Islam counter by bringing the following documents:
- The printed offer letter for the Loan Advance Payment (WPP) from myPTPTN.
- The student's MyKad (Representative is not allowed)
Transfer of the Loan Advance Payment (WPP) to Other Bank Accounts
Loan Advance Payment (WPP) it can be transferred to other bank accounts, provided that students first redeem the Loan Advance Payment (WPP) at the Bank Islam counter and then they can deposit it into another bank account.
Situations That Are Not Allowed
Students not allowed to redeem the Loan Advance (WPP) if:
- The student does not continue their studies in the offered IPT.
- The student does not continue their studies in the offered course.
If the Loan Advance Payment (WPP) has been redeemed but the student did not apply for or was not approved for the PTPTN education loan, the student is required to repay the amount within the period eight (8) months from the expiration date of the warrant..
A compensation fee of 1% per annum. will be imposed on the outstanding balance starting from the ninth month after the expiration date of the warrant.
*Note: Ta’widh (compensation) may be imposed for delays in fulfilling financial obligations resulting from exchange contracts (such as sales and hire purchases) and qard (loans).
Source: Central Bank of Malaysia
Conclusion
The Loan Advance Payment (WPP) from PTPTN is a valuable financial assistance for students in need. With this facility available, students are advised not to misuse this money and to ensure it is used wisely for educational purposes.
Use this money for the right purposes related to your studies. Remember, the responsibility in managing this money will help ease your financial burden in the future.
More details
If you have any questions, please contact PTPTN Careline at 03–21933000 or follow Official Social Media @PTPTNOfficiall for more information.
Hopefully, this article enhances your knowledge.
