The Benefits Of Student Loans

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Student loans have been applied worldwide in developed countries as well as recently in some developing countries example of the countries are America, Canada, China and others countries. This is a way to help higher education for all people. There are two ways of offering financial support for those student, which are scholarship schemes and through student loan programs that make funds available to all student who wish to borrow for their education. Student can receive either a scholarship or a loan. Loans and scholarship differ from one to the next in terms of their implications for recipients. Scholarship recipient need not repay the money awarded to them but is instead bonded to work in jobs approved by the funding bodies for a number of years following graduation. In the case of loan recipients there is no commitment between the recipients and funding bodies, although the amount of money borrowed must be repaid.…show more content…
For instance public education institutions in Malaysia receive 90% of their funding from government sources with the remainder derived from student fees. The government of Malaysia under Ministry of Education as well as various other funding bodies provides various types of loans and scholarships to student. The most providing loans for student in Malaysia are National Higher Education Fund Corporation (PTPTN) as Main Corporation. Beside that, there are several bodies providing loans and scholarships for student purpose example like Majlis Amanah Rakyat (MARA), Public Service Department (JPA), corporate companies and government linked companies such as Petronas, Telekom Malaysia, Tenaga Nasional, Khazanah Nasional and many

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