Good news for PTPTN borrowers!
The new Pakatan Harapan government has been working hard to ensure that they fulfill their 10 promises in 100 days and one of their promises was to delay National Higher Education Fund Corporation (PTPTN) loan payments.
Now that the ministers have officially begun working in their respective offices, they are moving quickly to put their plans into action. At last!
One of the things that they highlighted in their manifesto is to reduce the burden faced by PTPTN borrowers, and Education Minister Dr Maszlee Malik says that this is the ministry’s top priority. Based on a report by Sinar Harian, he told the press that they are looking into the matter and are still working out the details.
The manifesto had promised that fresh graduates who earned below RM4,000 a month could delay in paying their PTPTN loans and they would also lift the travel ban on blacklisted PTPTN borrowers. Yay!
Maszlee said, “We are looking at this issue comprehensively and holistically to make the promise a reality. As long as the fresh grads do not earn more than RM4,000, they don’t have to pay their PTPTN loans. We are not going to set any fixed period but of course, we welcome anyone who wishes to pay back their loans.”
“We will also contact the Immigration Department and ask them to lift the travel ban on PTPTN borrowers who defaulted on their loans,” he added.
When asked whether this delay of payment would affect future borrowers, Maszlee said, “I am confident borrowers will repay the loan when their salary hits RM4,000, and believe there will be more repaying their loans than defaulters in the future.”
He added that currently there were loan defaulters that could not make the monthly installments due to the deteriorating economy. However, he believes that under Prime Minister Tun Dr Mahathir Mohamad’s administration, the economy would be improved.
Maszlee says that they are considering free education in public universities but at the moment they need to focus on fixing the education system in Malaysia. He says that it is a “sinking ship” that needs to be repaired as soon as possible.
Now, even with this delay in payment, do be a good citizen and pay off your PTPTN loans as soon as you’re able!