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Scholarship and Money in Malaysia

Malaysia has been an attraction for foreign students simply because of that fact that it is affordable. Major consideration while selecting a foreign university for higher education is the course fees and the living expenses. Over the years it has been seen that Malaysia, offers the students the real value for their money. High-quality education at a reasonable cost is one of the many reasons that brings international students to the Malaysian shores.

A bachelor’s degree program in the area of business costs around USD 11,100 to 14300. The engineering degree costs around USD 13,000 to 15,000. Degree in IT comes at around USD 9400 to 12,300. Hospitality and tourism degree costs around USD 12,000 to 14,300. Medicine degree costs around USD 62,900 to 108,600. A 3-year UK Engineering degree in Malaysia through a franchised degree program comes at an estimated price of MYR 51,000 (USD 16,000). Whereas the same degree in the UK comes at around MYR 144,000 (USD 45,000). This clearly suggests that studying in Malaysia is quite affordable and inexpensive as compared to the United Kingdom or the United States of America.

Cost of accommodation mostly varies from place to place. However, in the major cities in Malaysia, the prices tend to be more expensive as compared to the tier-2 cities. Most universities provide on-campus accommodation. A single bedroom is likely to cost around MYR 200 - 500 per month on campus. Some universities also have in-house food facilities and provide food on a daily basis for a price of MYR 10. However, a lot of off-campus options are also available. The off-campus bedroom is likely to cost around 350 – 500 per month. But if one is going for off-campus accommodation, it is always advisable to see if laundry and hot water facilities are provided or not in your rent. Few of the websites that students can use to find accommodation outside of university campuses are as follows:

  1. www.ibilik.com
  2. www.cariglist.com
  3. www.speedrent.com
  4. www.iproperty.com

Opening a bank account is quite hassle-free in Malaysia. Though is not necessary to have a bank account, it is advisable to have one to avoid unnecessary international payment fees. The international student office at every university assist the students to open a bank account locally. More often than not, one will require a confirmation letter from the university about your enrollment, passport copies, minimum cash deposit and the address proof. Plenty of international and local banks are easily accessible and within walking distances from the universities. Opening a foreign currency account is also possible at most of the commercial and merchants banks in Malaysia. Visa may or may not be required by the banks. Some banks may ask for it, some might not require the visa. This is because the rules and regulations are not that stringent in Malaysia. However, one can always visit the international student office in the university to clear any kind of confusion with rules and requirements for opening a bank account.

The number of different scholarships are offered by the Malaysian Institutes and Government to attract talent from all around the globe. Kuok foundation Diploma Awards 2018, is offering scholarships and study grants of about MYR 6,000 per annum for the deserving students.

The government of Malaysia also launched Malaysia International Scholarships (MIS) for Masters and PhD. Such efforts are being made by the government so as to attract and retain highly trained individuals all around the world. The fields of studies considered under this scheme are:

  1. Science and Engineering
  2. Biotechnology
  3. Information and Communication Technology
  4. Economics and Environmental Studies
  5. Medicine and Clinical Pharmacy
  6. Agriculture and Fisheries.

MIS scholarship will include the following benefits for the students:

  1. Tuition fees
  2. Air Travel from recipient’s city
  3. Monthly stipend
  4. Annual grant for books
  5. Health insurance
  6. Thesis allowance

To be eligible for this Scholarship the students must meet a following set of criteria.

  1. They should not be more than 40 years for post-graduation degrees and should not be over 45 years for post-doctoral degrees during the time of application.
  2. They must have maintained a 3.5/5 CGPA during bachelor’s degree for applying to master’s program and must have maintained a CGPA of 3.5/4, during their master’s program, if they are applying for PhD’s.
  3. Must have taken either IELTS with a score of at least 6.5, or TOEFL with a score of at least 580 of paper-based test and 92 internet-based test, or 230 for the computer-based test.
  4. A statement of purpose in line with their study goals and future prospect.

Apart from the Malaysian International Scholarship, which is being offered by the government, there are many other scholarships that are offered by the universities itself.

Students can also work on a part-time basis on the campus or outside to earn a little extra income, which can help them immensely to fund their education or manage their daily living expenses. With all these facts and numbers, it is quite likely to see that, Malaysia is affordable in terms of tuition fees and living expenses. Talented individuals with good academic standing in their previous degrees (Bachelor or Master Program), can easily fund their education through scholarships availability, and or can also work part-time to help compensate for their expenses but they are allowed during semester breaks, festive holidays or more than seven days of holiday for a maximum of 20 hours a week. International students are only allowed to do a job in restaurants, petrol kiosks, shops and hotels but they are not allowed to work in the following positions such as cashier, singer, masseur, musician, guest officer or any activity deemed to be immoral. 

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