What’s a loan? A loan is a sum of money that’s borrowed for certain purposes and is RETURNED.
It’s a simple concept yet many fail to understand it. This applies to the many PTPTN borrowers in Malaysia who have time and time again try to protest against paying back this loan – even when they have known full well of the terms when applying for it. Mindblown!
In a shocking update by the Education Ministry, 375,925 people have NOT MADE A SINGLE repayment yet!
According to The Star, Deputy Education Minister Teo Nie Ching has not decided yet whether or not to reintroduce the travel ban that was imposed last time to make the loan borrowers pay their dues.
“A travel ban was one of the proposals given during the public consultation on (PTPTN’s) new mechanism.”
Even with the travel ban in place, many would argue that it’s not fair to blacklist the PTPTN borrowers who fail to make a repayment. However, one solid point that is always made to counter this argument is:
“If they don’t have money to repay the ban, then they certainly should not be travelling overseas!”
According to the Deputy Education Minister, an average between RM3.7bil to RM4.3bil is needed to provide loans to 180,000 new borrowers and 420,000 existing ones. She also added that till September this year, a total of RM72.1 bil worth of loans has been approved to 3.14 million borrowers, where RM36.5 bil were for students in higher public higher education institutes while RM35.5bil were for those in the private higher learning bodies.
We urge everyone to repay their PTPTN loans because the money is needed to fund other students as well! Be a responsible borrower!
What do you think? Should the travel ban be imposed again to enforce loan repayments? Shoot down in the comments below!
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