Education Loan Repayment Portal

ELCD Objective

The Education Loan Collection Division (ELCD) oversees the education loan collection activites of the Yayasan Sabah.

The objectives of ELCD are as follows:

To increase annual loan collection.
To enhance the monitoring of monthly repayment loan performance.
To ensure efficiency in the education loan collection system including record management, documentation and loanees’ database.
To contribute towards sustainable education loan revolving fund.

Repayment Requirements

Loanees who have completed their education are required to begin repaying their loan six (6) months after graduation.

Distance Learning Students/Off-Campus Students (PJJ/PLK) and loanees without land collateral (Exempted from Collateral Conditions) must start their repayment as soon as they receive their education disbursement from Yayasan Sabah.

The monthly instalment payment rate and repayment period will be determined based on the education loan amount.

Repayment Methods

By offering a range of repayment methods, we aim to make the loan repayment process as easy and convenient as possible for our valued borrowers. Choose the method that best suits your needs and enjoy hassle-free payments.

Level 6, Education Loan Collection Division, Menara Tun Mustapha, Yayasan Sabah Group Headquarters Complex, Likas Bay
Level 6, Urban Transformation Centre (UTC), Sembulan, Kota Kinabalu

Bank Standing Instruction
Bank Draft, Private Cheque, Post-Dated Cheque
Maybank
- Recipient: YAYASAN SABAH
- No. Recipient Account: 01-001-3016661
- Recipient Bank: Malayan Banking Berhad
- Receiving Bank Address: P.O. Box 10862, 88809, Kota Kinabalu, Sabah, Malaysia.
- SWIFT CODE: MBBEMYKLXXX (International Code Transaction)
Payment Method Options:
1. Maybank counter
2. Telegraphic Transfer
3. Online Banking/Fund Transfer
4. JOMPAY via various bank
  - Biller Code : 72660
  - Reference 1: NRIC
  - Reference 2: Borrower's name
5. For those who make payments via Bank, please clearly state the Loanee's Name, File Reference and the Payment Amount for each repayment to avoid confusion and to enable an official receipt to be issued.
6. A copy of the repayment slip can be sent to the Education Loan Collection Division office for further action. (Contact Us)
7. Do not make payment through the Cash Deposit Machine (CDM) as your repayment may not be traceable.

Yayasan Sabah enables eligible employees to repay loans via salary deduction, ensuring timely repayments and avoiding arrears.

How to Apply
Loanees needing assistance can contact the Education Loan Collection Division.(Contact Us)
Additionally, they can submit their loan application in writing or via the Student Portal
Completed application may be sent by post, hand-delivered or emailed to bayaranbalikpinjaman@ysnet.org.my
Before applying, loanees must confirm with their employer whether they are eligible for a salary deduction. For instance, the deduction of their existing salary should not exceed 60 per cent.

Review and Implementation of Salary Deductions
ELCD will make a review prior to approval.
ELCD will issue a salary deduction letter along with repayment schedule to the employer and a copy to the loanees.

Repayment via EPF Contribution

The Employees' Provident Fund (EPF) now allows eligible contributors to withdraw education through Account-2 to settle outstanding education loans and arrears:-
- Only those who meet the diploma, degree and post-degree education criteria are eligible.
- Parents can withdraw their EPF savings to repay their children's education loans.

For more information, please contact ELCD. (Contact Us)

Loanees need to contact EPF office to check their eligibility.
Yayasan Sabah will issue the following letters as supporting documents:
- Confirmation letter according to EPF format
- Latest Outstanding Balance Statement
- Certified copy of Yayasan Sabah Education Loan Agreement
- Certified copy of Education Loan Offer Letter
Loanees need to submit all documents to the EPF office.

NOTE: EPF will only process certified copy of documents from Yayasan Sabah.

Rebate
- Yayasan Sabah is offering various rebates namely Incentive Rebate (Lump Sum Payment) and Prompt Payment Rebate.
- The primary purpose of rebates is to motivate borrowers to repay their student loans.
- These rebates are available to all borrowers who meet the specified terms and conditions.
For more information on rebates, please contact the Education Loan Collection Division.(Contact Us)

Default In Repayment

First

Loanees and guarantors will be listed in CTOS.

Second

Loanees and guarantors will be subject to legal action.

Third

Collateral will be forfeited.

Fourth

Blacklisting for future education loan applications will be extended to loanees and guarantors.

Repayment Deferment

Loanees who are still studying with a full-time course at IPTA/IPTS (the repayment deferment period is until graduation).
Loanees who have just graduated and have yet to be employed.

Loanees are required to submit a written application or via Loanees Portal along with a confirmation letter from the university/college containing the information listed below:
- Name and Identification Card No.
- Course taken
- Study period
- Start Date and End Date of studies

Incomplete applications will be rejected and loanees will be notified in writing.
The processing period is 14 working days from the date the application is received.
If the application is successful, a notification letter will be issued stating the period of deferment and the date of resumption of repayment.

Rebate of Education Loans Based on Academic Achievement

This incentive is given to eligible loanees who fulfill specific conditions:
- Loanees who have completed their graduation on or after 3 April 1987.
- A certificate and full transcript must clearly indicates the academic achievement attained and verified by the issuing educational institution.
- Academic achievement-related terms and conditions apply.

Make an official application letter and include a certified copy of your diploma, degree or post-graduate degree and a full transcript.
Completed applications can be mailed, hand-delivered or emailed to bayaranbalikpinjaman@ysnet.org.my

Yayasan Sabah will review loanees’ application prior to approval.

Frequently Asked Questions (FAQ)

Can loanees opt to make repayment via instalment(s) for lump sum payment?

Yes, loanees can make repayment up to three (3) instalments.
What are the criteria for loanees to be entitled for 20 per cent Lump Sum Rebate?

All loanees are entitled for 20 per cent rebate if they opted for Lump Sum payment.
What criteria are for loanees to be entitled to a 25 per cent Incentive Rebate?

For loanees to be entitled to the 25 per cent Incentive Rebate, repayment must be made within 25 per cent of their repayment period.
(Example : 100 months x 25 per cent = 25 months; Loanees need to make repayments within 25 months.)
If loanees have passed away, can their beneficiary request for a 25 per cent Incentive Rebate ?

The beneficiary can be offered a 25 per cent Incentive Rebate if the loan repayment period does not exceed 25 per cent of the total repayment period.
If loanees never make any repayment, can they be offered any rebates?

Loanees will be offered a 25 per cent Incentive Rebate if they make payment within 25 per cent of their repayment period. If the repayment period does not exceeds 25 per cent, the loanees will be offered a 20 per cent Lump Sump Rebate.
If the repayment period had exceed 25 per cent, the loanees will be offered 20 per cent Lump Sum Rebate.
If loanees do not complete their studies, can they opt for a 25 per cent Incentive Rebate?

Loanees are eligible for a 25 per cent Incentive Rebate if the repayment period does not exceed 25 per cent
(Example : 100 months x 25 per cent = 25 months).
If loanees have been given academic absorption, can they still be eligible to apply for the 25 per cent Incentive Rebate?

Yes, loanees are still be eligible for the 25 per cent Incentive Rebate if their repayment period does not exceed 25 per cent.
Can loanees make their study loan repayment from their EPF Account?

Yes, loanees can opt to utilise their EPF Account-2.

Contact Us