Repayment after any scholarship conversion

MARA education loan repayment

Calculate the monthly repayment on a MARA education loan (pinjaman boleh ubah), including any portion converted to a scholarship for academic results.

Formula

repayable = financed − converted · total = repayable × (1 + ujrah × years) · monthly = total ÷ (years × 12)

Assumptions

• MARA financing is a pinjaman boleh ubah: part or all of it can be converted to a scholarship on academic result, and that portion is never repaid. The bands are set by MARA policy and are not published as a fixed table, so the conversion is entered here rather than worked out — take it from your offer letter or MyEduloan.
• Ujrah is charged flat on the amount repayable for the full term, which makes the figure an upper bound. MARA does not publish whether it accrues on the original or the reducing balance; if it is the reducing balance, the real charge is roughly half this. At 1% a year the difference is small in ringgit, but it is an assumption, not a fact.
• Repayment normally begins six months after you finish studying or start work, whichever comes first. This calculator spreads the repayment evenly over the term and does not model that deferment.
• Excludes any rebate for early or lump-sum settlement, and any penalty for arrears.

Frequently asked questions

How is this different from PTPTN?
Both charge 1% ujrah a year, but MARA financing is a convertible loan — strong academic results can turn part or all of it into a scholarship you never repay, which PTPTN does not do. MARA is also open to Bumiputera applicants only.

How much gets converted to a scholarship?
It depends on your academic result and on MARA policy at the time, which is revised and is not published as a fixed table. Your offer letter or MyEduloan account states your own figure — this calculator asks for it rather than guessing, because a guess here would misstate what you actually owe.

When do repayments start?
Usually six months after you finish studying or start working, whichever comes first. Deferment can be applied for in genuine hardship, but it is granted case by case rather than automatically.

Sources

• MARA — Pembiayaan pendidikan (MyEduloan)