TIPS: Loans to Cover Education Costs

Enrolment season is the time when parents are busily thinking about the cost of education that must be met. in Parents who do not have savings or who have not prepared insurance for education are usually in the most trouble facing the new school year.

The government is trying to reduce the cost of education through the School Operational Assistance (BOS) for the 9-year compulsory education programme. Foe the cost of a college education, the Ministry of Education and Culture can help, based on the application of Operational Support State University (BOPTN).

The Ministry of Education and Ministry is also implementing Regulation Number 55 Year 2013 and states that the definition of a single tuition (UKT) is partially covered tuition for a single student based on their economic capabilities. So students from poor families will pay a relatively low UKT that is valid until the student graduates.

Still, most parents have to struggle with the question of where to look for sources of funding education costs. For example, the option to borrow money without collateral is offered by Islamic bank for education financing. This product is unsecured borrowing which can help the needs of the cost of education for parents in financial difficulties who pay tuition fees for their children. In addition it also sets how long the loan will be paid in instalments. For example, a year or two years.

Furthermore, Islamic banks which will take care of all the registration and transfer of tuition fees directly to the school. Islamic banks usually charge a fee for this service. IB multiservice financing schemes can alleviate the burden of school fees.

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