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Having taken a PTPTN loan myself a decade ago for my tertiary education, I really appreciate the fact that we could continue our education with ease without any hiccups thanks to the Malaysian government. It's with great interest then when I heard about the  National Education Savings Scheme (SSPN-i) by PTPTN. Today's post would be to share on the features and benefits as well as their on-going contest. Read on below.  SSPN-i

End of last year, 2010 I was getting quite depressed over my Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) Repayment. If you were to check out that link, you'll notice I owe them RM75k already, an increase of RM11k from my initial debt of RM64k. It's not I don't pay back at all, it's just that I was not paying back regularly. At that time, I made it a point to apply for the interest change to PTPTN. A 1% interest rate is definately better than 3%, that's a reduction of 2%!. Initially when I took up this loan in 1999 it was at 4%. I submitted the application mid of last month, and was pleasantly surprised when PTPTN sent me an email yesterday confirming that they have already changed my interest rate. Sweet. Email confirmation So for those that have not applied for the rate adjustment, you could do it now. But bear in mind, from what I heard, PTPTN may start auto cut from our monthly salaries very soon.

Most students taking up degree courses in Malaysia would most likely take up this government loan. Yours truly is no different from "most students". With this loan, I didn't have to burden my parents to pay for my university educational fees. Back in 1999, when I first entered pre-university in Multimedia University (MMU), PTPTN offered me this loan. The terms were RM66000 for the whole duration of my course, with repayment of rm396 for 25 years after course completion at an interest rate of 4% per annum. In 1999, 4% interest charged was a very good deal as bank's fixed deposits were giving 9 - 10% interests rates. Current 2010 bank's fixed deposit rates are at 3-4%, and PTPTN came up with a new interest rate of 1%, which is good in my opinion. My tale of despair which prompted me post about this today is also partially due to my lack of urgency to re-pay back this loan. PTPTN started charging me interests since year 2004, my graduation year. It was roughly an i...