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Zakat Model in PTPTN Financing Scheme – A Conceptual Study

This paper proposes a viable alternative model for the PTPTN funding system, termed the Holistic and Prosperous Education Model (HOPE) model, to reduce and waive the PTPTN loan payments for Asnaf students with Zakat funds. This is to achieve the goal of poverty eradication, as more than half a milli...

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Main Authors:	Masyitah Abdul Rahman, Anwar Allah Pitchay, Zubir Azhar, Mohamad Isa Abd Jalil
Format:	Article
Language:	English English
Published:	Penerbit UMS 2023
Subjects:	BP176-181 The five duties of a Moslem. Pillars of Islam LB2337.2-2340.8 Student financial aid
Online Access:	https://eprints.ums.edu.my/id/eprint/37445/1/ABSTRACT.pdf https://eprints.ums.edu.my/id/eprint/37445/2/FULL%20TEXT.pdf https://eprints.ums.edu.my/id/eprint/37445/
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spelling	my.ums.eprints.374452023-10-02T07:13:57Z https://eprints.ums.edu.my/id/eprint/37445/ Zakat Model in PTPTN Financing Scheme – A Conceptual Study Masyitah Abdul Rahman Anwar Allah Pitchay Zubir Azhar Mohamad Isa Abd Jalil BP176-181 The five duties of a Moslem. Pillars of Islam LB2337.2-2340.8 Student financial aid This paper proposes a viable alternative model for the PTPTN funding system, termed the Holistic and Prosperous Education Model (HOPE) model, to reduce and waive the PTPTN loan payments for Asnaf students with Zakat funds. This is to achieve the goal of poverty eradication, as more than half a million borrowers have never paid off even a single cent of their student loan (PTPTN) and almost 97% of them are from the B40 student group. Debt can have serious consequences for individuals and their families, so it is important to explore options for debt relief. As this paper focuses on the conceptual development of the HOPE model, it employs a qualitative content-analysis methodology and this study examines existing studies on the potential of Zakat as an essential form of assistance in the education sector to construct the HOPE model as a funding model. This approach can help to address the growing problem of student debt, particularly B40 students who rely on loans to finance their education. By deducting the tuition fees and accommodation fees financed by the PTPTN loan, the Zakat fund can help reduce the financial burden on students and their families, allowing them to focus on their studies and achieve their educational goals. Overall, this new approach to zakat distribution has the potential to create a more sustainable and impactful form of charitable giving, one that can help to address pressing social issues such as poverty, inequality, and access to education. Penerbit UMS 2023 Article NonPeerReviewed text en https://eprints.ums.edu.my/id/eprint/37445/1/ABSTRACT.pdf text en https://eprints.ums.edu.my/id/eprint/37445/2/FULL%20TEXT.pdf Masyitah Abdul Rahman and Anwar Allah Pitchay and Zubir Azhar and Mohamad Isa Abd Jalil (2023) Zakat Model in PTPTN Financing Scheme – A Conceptual Study. Labuan E-Journal of Muamalat and Society (LJMS), 17. pp. 33-44. ISSN 1985-482X
institution	Universiti Malaysia Sabah
building	UMS Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Malaysia Sabah
content_source	UMS Institutional Repository
url_provider	http://eprints.ums.edu.my/
language	English English
topic	BP176-181 The five duties of a Moslem. Pillars of Islam LB2337.2-2340.8 Student financial aid
spellingShingle	BP176-181 The five duties of a Moslem. Pillars of Islam LB2337.2-2340.8 Student financial aid Masyitah Abdul Rahman Anwar Allah Pitchay Zubir Azhar Mohamad Isa Abd Jalil Zakat Model in PTPTN Financing Scheme – A Conceptual Study
description	This paper proposes a viable alternative model for the PTPTN funding system, termed the Holistic and Prosperous Education Model (HOPE) model, to reduce and waive the PTPTN loan payments for Asnaf students with Zakat funds. This is to achieve the goal of poverty eradication, as more than half a million borrowers have never paid off even a single cent of their student loan (PTPTN) and almost 97% of them are from the B40 student group. Debt can have serious consequences for individuals and their families, so it is important to explore options for debt relief. As this paper focuses on the conceptual development of the HOPE model, it employs a qualitative content-analysis methodology and this study examines existing studies on the potential of Zakat as an essential form of assistance in the education sector to construct the HOPE model as a funding model. This approach can help to address the growing problem of student debt, particularly B40 students who rely on loans to finance their education. By deducting the tuition fees and accommodation fees financed by the PTPTN loan, the Zakat fund can help reduce the financial burden on students and their families, allowing them to focus on their studies and achieve their educational goals. Overall, this new approach to zakat distribution has the potential to create a more sustainable and impactful form of charitable giving, one that can help to address pressing social issues such as poverty, inequality, and access to education.
format	Article
author	Masyitah Abdul Rahman Anwar Allah Pitchay Zubir Azhar Mohamad Isa Abd Jalil
author_facet	Masyitah Abdul Rahman Anwar Allah Pitchay Zubir Azhar Mohamad Isa Abd Jalil
author_sort	Masyitah Abdul Rahman
title	Zakat Model in PTPTN Financing Scheme – A Conceptual Study
title_short	Zakat Model in PTPTN Financing Scheme – A Conceptual Study
title_full	Zakat Model in PTPTN Financing Scheme – A Conceptual Study
title_fullStr	Zakat Model in PTPTN Financing Scheme – A Conceptual Study
title_full_unstemmed	Zakat Model in PTPTN Financing Scheme – A Conceptual Study
title_sort	zakat model in ptptn financing scheme – a conceptual study
publisher	Penerbit UMS
publishDate	2023
url	https://eprints.ums.edu.my/id/eprint/37445/1/ABSTRACT.pdf https://eprints.ums.edu.my/id/eprint/37445/2/FULL%20TEXT.pdf https://eprints.ums.edu.my/id/eprint/37445/
_version_	1781705916164341760
score	13.211869

Zakat Model in PTPTN Financing Scheme – A Conceptual Study

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