National Higher Education Fund Corporation (PTPTN) has changed its loan scheme to education financing based on the syariah concept.
The concept, which impose a charge of one per cent a year, has been implemented for new students who were given the loans in December last year.
PTPTN, in a statement Thursday, said the concept would also be offered to old students.
"It will be carried out in stages beginning August where those eligible will be notified through the short messaging system," it said.
It stated that the first stage would involve 20,000 students whose loan approval were given between June 2008 and Dec 21, 2008, as well those pursuing diploma and degree studies in public institutions of higher learning and those who did not receive advance loan payment.
These students are required to check their status through the PTPTN website and to take the necessary actions, it added.
It said PTPTN borrowers who had completed their studies, but had not defaulted in their loan repayments, would also be offered the Ujrah concept.
For further information, the public are advised to call the PTPTN Call Centre at 03-20927788 or surf its website, www.ptptn.gov.my.
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