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Evaluating Real life issues from Islamic Perspectives.
e) Presently, a large percentage of Malaysian student are financed through government loan (PTPTN). However the loan has been criticized from an Islamic perspective.
ISSUE 1: What are the merits and demerits of the loan? Justify your answer.
PTPTN is a government loan given to students who are in need to pursue their studies. Everything in this world has its advantages and drawbacks and so does the loan. Therefore, there are some merit and demerits that can be taken into account.
First thing first, PTPTN loan is so helpful for the students to ease the burden of their family who is mostly not from a well-off family. Basically, most of the applicants of the PTPTN loan come from the person who are coming from rural areas and normally their yearly earning just fine to support their basic necessities of life. So, parents have to find another alternative to make their children’s dream come into reality especially when it is related to education. PTPTN loan is the close alternative that mostly being chosen by most of them because the giving is quite a number and it is more than enough to support the whole years study thoroughly. Thus, obviously PTPTN loan very helpful to student in order to reach the highest achievement of their life without any financial obstacle.
In contrast, PTPTN loan also owns some drawbacks itself like; first the applicants have no choice to have other source of financial aid. It is very difficult to be able to get sponsorship nowadays because of the strict conditions imposed by legal firms. Applicants have to go through some stages in order to complete and fulfill those requirement and condition to make us being accepted by Board of Sponsorship. It is because they are not invest for nothing but hoping for the best from the holder of the sponsorship. So, only the chosen one being selected by the Board of Sponsorship and that is why for those who are not qualified will choose...
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