Fellowship Terms and Conditions

General

1. To provide "interest-free financial support" in the form of loans and scholarships for Pre-University and Undergraduate courses/studies except medicine, dentistry and pilot training, for talented and eligible Malaysian Indian Students from middle income and low income families and to pursue higher education in the fields of their choice at Private Higher Educational Institutions within Malaysia, recognized by ‘Malaysian Qualifications Agency’.
2. This financial support does not cover any outstanding fees/payments.
3. To provide counselling, guidance and networking opportunities to IEF Fellows.
4. IEF Board of Directors reserves the right and jurisdiction to consider applications that do not fall within IEF’s ‘Terms and Conditions’ under exceptional cases.

Eligibility

1. Malaysian citizen of Indian origin.
2. Academic requirements:
   1. For Pre-university (A-Levels / Foundation / Matriculation / Diploma):
      1. SPM   -   5 As and above
   2. For Undergraduates:
      1. STPM / A-Levels   -   2As / 3.1 CGPA and above
      2. Matriculation / Foundation / Diploma   -   3.1 CGPA and above
3. Pursuing or intend to pursue full-time academic programs as stated above.
4. Students who are pursuing their Pre-University and Undergraduate courses/studies must have a minimum of 3.1 CGPA

Loan Coverage

1. Tuition Fees. Academic fees as set by the Private Higher Educational Institutions.

2. Other Fees. Admission, registration, examination, laboratory, resources and others as set by the Private Higher Educational Institutions.

Limits Of Financing

A maximum loan of RM 30,000.00 is eligible either for Pre-University or Undergraduate courses/studies only.

Guarantors

1. Number of Guarantors required:
   1. Two (2) guarantors with a monthly gross income of not less than RM3,000 each, or Three (3) guarantors with a monthly gross income of not less than RM2,000 each.
   2. Documents required:
   3. 1. 1 copy of all Guarantors’ NRIC;
      2. Latest Payslip (3 months), or;
      3. Pension Slip (3 months);
      4. Certified Bank Statements (if self-employed, 3 Month); or
      5. Income Tax Returns.
2. A guarantor’s eligibility requirements are as follows:
   1. Malaysian citizen;
   2. Either parents are eligible (Father OR Mother);
   3. Siblings are eligible;
   4. Have known the applicant’s family for over three (3) years;
   5. Must be below the age of Fifty (50) years on the date of application; and
   6. Not ‘Black Listed’ or declared as a “Bankrupt”.

Loan Repayment

1. The loan repayment is set for 10 years, and it commences three (3) months after the completion of course/studies. The Graduate Repayment Plan is split into 3 parts as follows:

1. a) First 10% of loan for 24 Months
2. b) Second 40% of loan for 48 Months
3. c) Third 50% of loan for 48 Months

Interest Rate

1. A penalty of 4% per annum will be levied on the total loan amount due.

Loan Disbursement

1. The disbursement of the loan is subject to the following:
   1. Settlement of any outstanding payment by the applicant to the respective Private Higher Educational Institutions.
   2.  Loan agreement and related documents being legally executed and stamped.
2. Loan disbursement will be made directly to the Private Higher Educational Institutions concerned by semester/term, provided the fellow maintains an academic result of 3.0 CGPA (Minimum).

Parents's / Guardian's Income

Parent’s/Guardian’s combined monthly gross income must not exceed RM 7,000.00.

Note

IEF Board of Directors reserves the right and jurisdiction to amend the above terms and conditions from time-to-time. IEF Board of Directors, too, has the right to consider applications that do not strictly meet the above terms and conditions in exceptional cases.