Hi Guys,

Recently I hv offered to do post graduate in Canada about few months ago. It's a 1 year Bioinformatics course with another year to work there.One year course , i hv to come up with rm80k ruffly and i gotta pay my first sem tuition fee by next month end at least 8k Canadian dollar (8,000.00 CAD = 25,245.44 MYR).


Thereafter, I hv tried applied study loan in many places.
I have asked for study loan from cimb bank, public bank, oub bank, rhb bank,hong leong / hlb bank, standard chattered/STB, citi bank, bank pertanian/agro and some other foreign banks as well. Unfortunately they were told me that no such loan (previously some banks like cimb and Rhb have provided but they gt freeze such loan since last year ). I have asked from bank rakyat and bank Islam but they were only keen to provide for Under Graduate and not for post graduate (not only that, they were told me even my college was not recognized by their banks, I checked with them & seems like can't get any education institutions from canada which is recognized by them) .

I have seek for PTPTN but they were only sponsoring/loaning for local education. Meanwhile, i hv also tried some other public firms as my alternative and seems like not fruitful to me as most of them are saying that there are many previous batch students also still on the waiting list.

I hv thought of applying personal loan but with my current salary , i am only entitle for about 5 times of my current basic salary which is most to most i can try is RM22, 500. Whereas I need at least rm70k and rest I can try come out my self. I went to try request personal loan from bank Islam, as if im not mistaken they can provide more then the other banks provided if your working company is under their recognized list. Again with some bad lucks, seems like my company not theirs 'Chosen One' it seems .

As my last option, i try refinance my current flat which is belonged to my dad.Now again it was another funny story .
This house we bought it in the year 1981 and now the market value can go up to rm65k i guess (can refinance up to rm58.5k/90%). i tried some how to refinance with am bank / cimb, its not that can't be done, they were told me, it will take 3-4 months ...!!!

I need any pro-est advise to solve my issue. Really appreciated if anyone could help and im willing to pay commission if its reasonable though. I know I can't stepped back as I worked so hard to make this plan at this point.Please someone help me urgently!!! Really appreciated

This post has been edited by silversex: May 14 2010, 05:09 PM

Hi, I have saved some cash but have invested like in property and forms. I hv taken some personal loans for my brother's wedding (How dumb ass i am)
As for the personal loan, I am able to settle all by August by withdrawing from my EPF account. That will settle my PL, as for my current loan (if can get for my studying purpose) i'm gona aply , surely i will allocate some advance pymt in my local bank account to continues paying till i finish my study. I hv relative in canada whom can find me part time job while im doing my studies and my friend there wiling to share the rental place with me and some other expenses which can b shared by us.

I nvr thought of pursuing studies untill last year when i was working with of my friend who did stop work and continue studies in there and he is doing good with some good job. He is paying bills from there while sending money to hsi family.I blief I can achieve something like that, I dun mind to take risk at this stage coz i hv ppl to backing up for my current commitments here

Hi Charlie,

No you can't withdraw for any of those reasons I guess.You can check online https://secure.kwsp.gov.my/index.php?page=l...general〈=en for the reasons you can use your account 2 money to withdraw. As I told you, I hv bot a new house with my brother , hence I can use the house to withdraw money from my second account :-p

This are the possible scenarios, one can withdraw from his EPF's account 2
Withdrawal Form

* Age 50 Years Withdrawal
* Age 55 Years Withdrawal
* Withdrawal to Reduce / Redeem Housing Loan
* Incapacitation Withdrawal
* Leaving Country Withdrawal
* Health Withdrawal
* Education Withdrawal
* Pensionable Employees Withdrawal And Optional Retirement Withdrawal
* Members’ Savings Investment Withdrawal
* Withdrawal to Purchase a House
* Withdrawal to Build a House
* Withdrawal Of Savings Of More Than RM1 Million
* Housing Loan Monthly Instalment Withdrawal
* Death Withdrawal

---

Added on May 14, 2010, 10:33 amHi Syd G,

Yes, my dad's property had paid off the full settlement.
You hv said ,"you can use that property as collateral whilst getting an overdraft facility", mind can spare more info on this. Im not quit get what is this term.
Yes, your right, my relatives over there are only will help for certain reasons, surely they wunt b helping to sponsoring me , if they did then they wunt b calling as 'relatives' I guess...

---

Added on May 14, 2010, 11:32 amHi Syd G,

I did some research and found the meaning of OD that u were suggesting :-

Overdraft (OD) facility is a facility that allows you to draw more money than what is available in your account. It's like an extended line of credit. For example: if the bank grants you OD of 50k, then you can use up to 50k in credit. You have to pay the bank interest on the amount of OD you have used. If you use OD of 10k then you pay interest on the 10k. I think the OD interest is BLR + x%.

Well, I'll try find if anyone could do this for me, just incase if you had any contact plz feel free to intro me

tx bro

This post has been edited by silversex: May 14 2010, 11:32 AM

Dear Syd G,

I hv contacted the cimb branch where they are doing the refinancing service for me.The lady told me, actually they don't hv OD terms such way, but she told me what im doing now (refinancing my house) is consider something like OD also and they can't do OD over my home property.

How sad I am....

Dear Syd G
I shall try with other banks likewise u suggested.Thanks for yr kind advise n for yr precious time as well.
hope wil get good news soon. perhaps will treat u lunch someday if things can jadi means
huhu...

This post has been edited by silversex: May 14 2010, 06:08 PM