Repayment Exemption for PTPTN Loan

Hello hello~~

So... recently I've successfully waived off my PTPTN loan! Definitely one of the best things that happened to me in 2015. I've been meaning to write this post but I, again, been procrastinating. Actually, it's because I wanted the post to be properly written instead of me half-assing it. Afterall, for whatever reason you stumble upon this post, you must be looking for something helpful. I will also share some tips for fellow Monash-ians with a 3-years Business Degree hoping to waive the loan off.

So now, let's cut to the chase! Waiving of the PTPTN loan or some may call it converting to a scholarship, or Pengecualian Bayaran Balik Pembiaayaan in BM is quite a long and tedious process. It's best if you complete the process in the first application but if you don't it's okay! Can always try and try again! 

I'll try to list down step by step on what you should do to hopefully ease your application process.

Step 1: Check for eligibility

I find the requirements stated in the government website being quite clear. So to find out whether you're eligible or not, you just need to head to their official website and check for EVERY requirement to make sure you're qualified. During my application process, some people told me that it no longer exist because the budget has changed and how PTPTN side has removed the exemption blah blah blah. I can tell you that NOPE! IT'S NOT TRUE! If you're looking right at the website and you can still download the application form then you definitely can still covert the loan to a scholarship.

The requirements for exemptions are basically quite simple

Screenshot from: http://www.ptptn.gov.my/web/english/repayment-exemption

I shall highlight that other sponsorship DOES NOT include Entrance Scholarship! I bashed myself up a few times trying to figure out does my Entrance Scholarship render me unqualified for the exemption. But I've received confirmation that the Entrance Scholarship will not impact the exemption and the fact that I got exempted means it's not considered as an overlap.

Step 2: Prepare for the documents

All the documents needed are stated in the screenshot above or just go visit the website just in case they changed the documents required! The application form is also readily available in PTPTN's official website.

I graduated from Monash University Malaysia and all I had to do is tell them I am applying for exemptions and they prepared all the documents for me. I believe most Unis know what to do and what to prepare so it's best to refer to your uni to get the documents ASAP. Monash is super professional and prepared everything for me from top to toe. I didn't even know what is MQA Accreditation but Monash prepared it for me so hooorahhh for this lazy and blur kid wtf!

Step 3: Submission of your application

The application form and the relevant documents can be submitted to the PTPTN office via mail. Again, I must stress to please refer to their website because their address may change and if I put their address here, it may be misleading. For instance, I submitted mine to Wisma Chase Perdana, Damansara Heights and it has shifted to Megan Avenue II, Jalan Yap Kwan Seng 4 months later!!! Hence, please check their official website for the latest update.

Anyway, I am extremely kiasu la! I submitted my documents personally to PTPTN's office at Damansara Heights instead of mailing. Cause I feel much calmer to know it's ACTUALLY in PTPTN office dy. If you can't deliver it personally then no harm calling maybe after 2 weeks to check have they received the documents.

Please STAPLE the documents together as one securely to make sure no papers are left behind or forgotten *cue Lilo and Stitch*

Step 4: Proof of submission

Not getting any evidence of the documents I've submitted was my biggest mistake! I didn't insist in getting an acknowledged receipt from PTPTN. I only got them to stamp the date on the photocopy of the application form. Save yourself some drama and buy yourself some insurance.

1. Prepare a photocopy version of the documents before you submit
2. Get them to acknowledge receipt on EVERY PAGE
3. Preferably, get your application number or any reference number

Otherwise, if any documents were misplaced, you have no evidence that the particular document was submitted and you may have to restart the application.

Step 5: Wait.... While you're at it.. PRAY

The approving process will take up to 2 months. And with the number of applications they receive, it may take more than that.

I called them up after 1 and a half months to check on the status to find out that my application was deemed incomplete because a letter from Monash is missing. I swear that I have submitted it but again, please refer to Step 4 for my mistake. Lol. Thankfully Monash came and save my ass AGAIN because somehow they communicated with PTPTN and the document was there but it was overlooked. So I only took 2 months to get it waived. I was really lucky that my stone in the way was resolved relatively quickly. Else, it would take more than 2 months and might pass my 12 months grace period.

But alas, I did manage to waive it.

BEST LETTER EVER!

Really thankful for a classmate of mine who managed to get the verification letter of "First Class" from Monash or else I wouldn't be able to exempt mine too. The reason being, our certificates do not have the word "First Class" on it so we needed a letter from Monash which was previously only issued to 4-years business students with Honours but now it is possible to get it for a 3-year Bachelor of Business and Commerce degree. So long you obtained..

1. WAM of 80% and above; and
2. Dean's List

Then yeap you should be able to get a "First-Class Equivalent" Verification Letter. Everyone shold write a huge thank you card to J for fighting for it! Lol 

Okay I guess that's all I can share about PTPTN Exemption. It's a very standard procedure and I hope everyone who is qualified can get their exemptions too! We've worked really hard for it after all right? 

If you have anything you wish to clarify, please leave a comment here and I will reply if I see it!

May the odds be ever in your favor!