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INDEX : Scholarships in Malaysia September 05, 2016 10:24:25 PM |
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Last Updated Monday, 05 September, 2016 10:24:25 PM
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Higher Education → Funding → Government Scholarship → SOSCO |
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The Social Security Organisation (SOCSO) Education Fund
| SOCSO is a government agency that
provides socio-economic security to all working Malaysian citizens (who
are SOCSO contributors) including their dependents. One of the benefits provided by SOCSO is for education which comes in the form of loans disbursed to dependent children who are recipients of either the: • Dependents' Benefit; or • Survivor's Pension |
| Or children of employees who are
recipients of: • Permanent Disablement Compensation; or • Invalidity Pension |
| Although this benefit is in the form of a loan, it can, however, be converted into a scholarship if the child obtains excellent results. |
Eligibility Criteria for the Education Benefit
Those who are eligible for the loan include:
| 1 | Dependent children of an employee receiving Invalidity Pension or periodic permanent disablement who are below 21 years old and unmarried at the time of the application |
| 2 | Dependent children of an insured person who has died as a result of an employment injury or while receiving invalidity pension or before reaching the age of 55 and who fulfills the contribution qualifying conditions. The child should be below 21 years old and unmarried. |
| 3 | Children who have exceeded the age of 21 and ore receiving a monthly benefit, are eligible to receive education benefit as long as they are still continuing their education in an institution of higher learning and are unmarried at the time of application |
| 4 | Children who have been offered places and have registered in any university or college or local institution of higher learning including institutions with twinning programmes on condition that the degree is completed locally. They must also be registered with the Ministry of Higher Education, to acquire a degree, diploma or a certificate which is awarded by the National Vocational Training Council, Ministry of Human Resources; |
| 5 | Children who have not been given any other scholarship or loan by any other authority; |
| 6 | Children whose family's finances are insufficient to support the cost of education. |
| Loan Amount The loan amount depends on the course undertaken, and includes the cost of living and other expenditure as determined by SOCSO. The amount of the loan includes the following: |
| 1 | Registration fees |
| 2 | Course fees, which include laboratory and lecture fees |
| 3 | Examination fees |
| 4 | Subscription for student associations - which is made compulsory by the university, college or institution of higher learning |
| 5 | Other expenses which will
be determined from time to time and these include: Subsistence Flight cost Books Instruments Expenditure for preparation of a thesis Practical/training costs |
| Loan Application Procedure The application for the loan can be made by completing the Borang "PERMOHONAN PINJAMAN PENDIDIKAN PERKESO" which is available at any SOCSO Office. |
| Loan Repayment The borrower must repay the loan by monthly installments to SOCSO when he/she has completed the course. The sum of monthly installment depends on SOCSO. The repayment starts seven months after the student has completed his/her education. A table of repayment will be given to the borrower upon signing the agreement. SOCSO has the right to change the method
or the duration of repayment or to request immediate repayment of the loan
or the remaining debt at any time. |
| Duration of Repayment The duration of repayment is between five to ten years and based on the consideration of the Education Loan Committee. Loan Termination The loan can be terminated if the borrower has passed away or suffers a disability that prevents the borrower from continuing his/her education. Conversion of Loan to Scholarship The loan can be converted into a scholarship if the borrower achieves excellent results.
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INDEX : Scholarships in Malaysia September 05, 2016 10:24:25 PM |
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