FINANCIAL AID

Financial assistance is crucial for all students. There are several types of financial assistance available for students/parents to consider. Students who register with NMIT must apply for financial assistance of their choices to ensure secure payment of the tuition fees. Self-sponsored students are reminded to pay the tuition fees according to the prescribed schedule.

Besides loans and sponsorships from government and private bodies, students may also apply for NMIT scholarship and bursary schemes which are available from time to time. In all cases, the students themselves are responsible to complete all the necessary application forms, agreements and prepare the necessary supporting documents for submission to the financial assistance provider.

National Higher Education Fund Corporation (PTPTN)

The National Higher Education Fund Corporation (PTPTN) was established under the Perbadanan Tabung Pendidikan Tinggi Nasional Act 1997 (Act 566) on 1st July 1997. PTPTN began its operations on 1st November 1997 at Wisma Chase Perdana, Off Jalan Semantan, Damansara Heights, and Kuala Lumpur.

PTPTN functions:

  • to manage funds for tertiary education purposes and collecting repayments of financing;
  • to provide and manage education savings schemes; and
  • to perform such other functions as a conferred on PTPTN by any written law.

Education financing application conditions are as follow:

  • Citizen of Malaysia;
  • Passed SPM with minimum 3 credits in any subjects;
  • Does not exceed 45 years of age on the date of application;
  • Been offered a place at IPTA/ IPTS and Polytechnic by fulfilling entry requirements determined by the Ministry of Education and Malaysian Qualifications Agency (MQA);
  • Course pursued must have registration approval from the Ministry of Education;
  • For IPTS students, course pursued must have the Certificate of Accreditation from the MQA and still valid on the date of application;
  • For a student who has other qualifications, verification must be obtained from the department or agency as stated above;
  • Remaining period of study at the time of application should not be less than one (1) year;
  • Has no other sponsor(s);
  • Has opened SSPN-i account.
  • For student who has been granted the PTPTN loan before and quit or has been dismissed from other institution, all the outstanding balance must be settled first before applying for the second time.

For more information, please visit http://www.ptptn.gov.my/

Employee Provident Fund (EPF)

The Employee Provident Fund (EPF) is a social security institution formed according to the Laws of Malaysia, Employees Provident Fund Act 1991 (Act 452) which provides retirement benefits for members through management of their savings in an efficient and reliable manner. The EPF also provides a convenient framework for employers to meet their statutory and moral obligations to their employees.

Education withdrawal:

This withdrawal allows contributor to utilize their savings in Account 2 to finance the education or their children’s education (including step-children and legally adopted children) at an Institution of Higher Learning either locally or abroad.

Eligibility:

A Malaysian Citizen; OR  a Malaysian Citizen who has made Leaving The Country Withdrawal before 1 August 1995 and later opted to re-contribute to the EPF; OR a Non-Malaysian Citizen who:

  • has become an EPF member before 1 August 1998; OR
  • has obtained a Permanent Resident status (PR);
  • has not reached the age of 55 on the date the application is received by EPF; AND
  • still have savings in Account 2.

For more information, please visit http://www.kwsp.gov.my/

Yayasan Yaacob Scholarship

Value of Scholarship:

The amount of this scholarship is RM10,000.00 (RINGGIT MALAYSIA TEN THOUSAND ONLY)

Eligibility & Criteria:

  • Malaysian Citizenship.
  • SPM – at least 3 credits or more.
  • Is not on bond or receiving any form of financial aid from other educational institutions or organisations.
  • Genuine financial need and good academic achievement.

Fields of Study:

  • Diploma in Maritime Transportation Management
  • Diploma in Shipping Management

Terms & Conditions:

  • Students can ONLY apply for one scholarship;
  • To complete the programme within the duration on a full time basis;
  • The amount of scholarship will be offset against the final semester payment only;
  • This scholarship is non-transferable;
  • To maintain an attendance record of 90% and above;
  • Cannot change the programme during tenure of the scholarship;
  • To abide by the college’s rules, regulations and codes of conduct;
  • Must maintain satisfactory progress and good standing of CGPA of 2.5 for every semester or the scholarship will be withdrawn;
  • All shortlisted candidates will be interviewed by NMIT;
  • All applications will be evaluated by NMIT. Decision made by NMIT is final; and
  • To allow NMIT to use scholar’s name, photographs(s), portfolio, coursework, projects or research for any publication or promotion purposes.

How to Apply:

Please attach printed application form together with the following documents:

  • A 1,000 to 1,500 words essay relating to your chosen course;
  • Recent 2 copies passport size coloured photograph;
  • A certified copy of academic transcript, testimonials and/or references relating to the relevant study, co-curriculum activities, achievements;
  • Curriculum Vitae (CV);
  • Admission letter from NMIT;
  • Two letters of recommendation from two (2) people who can act as referees to support your application.

Bank Loans

Study loans offered by banks may be the other option for those who have passed certain age limit restrictions or have another party to act as a guarantor. It is important to note that study loans are not offered by all banks. However, most banks provide personal loans which can be used to fund education.

The repayment period for most banks loans is about 10 to 15 years depending on the bank’s terms and conditions. Take note that most banks require a guarantor in order to be eligible for the loan.