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Currently, Indonesia seems to get a demographic bonus with many young people growing up to 2050. One of the complicated problems in educating the children of this nation is the high cost of education, especially for those who are currently going to college.

The 20% state budget allocation for the education budget

It seems insufficient to accommodate the large costs that must be borne when entering the campus world.

There was a survey conducted by Higher Education Leadership and Management (HELM) in 2012. They said the majority of students’ sources of income were 88.16 percent for parents and 4.60 percent for scholarships. Meanwhile, to provide money for their children, these parents must borrow from relatives (32 percent), banks (28 percent), and pawnshops (13 percent).

This certainly raises its own problems, when tuition fees are no longer affordable or parents are constrained with minimal income. The most common consequence is that we read in newspapers about the story of children who cannot register with PTN even though it has been received because of family funding problems. Inevitably need the right solution to overcome this problem, one of them through loans without interest or with low interest for students.

Calculating Allocation Needs for Tuition Fees


The tuition fees basically vary depending on the university itself. For the average condition of State Universities (PTN) with BHMN status, at least take an estimated cost consisting of an entrance fee of 50 million dollars, plus a tuition fee of 5 million dollars per semester for 8 semesters and a living cost of 1 million dollars per month for 48 months. So if it is totaled, the tuition fees at the PTN are 138 million dollars until the time of graduation with a four-year study period.

If a student has to pay his tuition by debt, how much should be paid? Without government assistance, students must take debt by following the applicable bank policies, for example, many calculations circulating on the internet with the assumption of 10% interest without a down payment, then the interest to be paid is around 22 million.

So the total loan from students that accumulates when students graduate is 160 million dollars (138 million dollars plus interest for four years). If the installment calculation is made for 10 years, then the installment to be paid is around 2.2 million dollars per month.

Potential Student Credit Market


Actually, student loan products in the past, there is already such a thing as Indonesian Student Credit (KMI). Unfortunately, this credit package broke up because many students were in arrears in debt and were unable to pay. This condition certainly makes us concerned. The young generation hopes that the nation turns out to be one of the problems with the emergence of bad credit. Learning from that, Fine Bank is certainly more experienced in managing student credit portfolios.

Fine Bank started from Makassar because it saw the potential of the city relatively as a pilot project. One well-known campus there, Satria Makassar University has 3,750 students, plus 800 more post-graduate students and more than 100 lecturers who can automatically become Fine Bank customers. If calculated roughly, Fine Bank can collect at least 5.2 billion dollars of student funds from the campus each semester by looking at the statistical data above.


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