fbpx
Connect with us

News

PTPTN Sees RM100 Mil Drop in Loan Repayment Due to Students’ Wait-And-See Attitude

Published

on

Ptptn Collection Drops By Rm100Mil Due To Students' 'wait-And-See' Attitude - World Of Buzz
Source: FMT

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

As much as fresh graduates often complain about paying back their PTPTN loans, most would still commit to it and pay their installments on time. However, this took a turn recently when Pakatan Harapan (PH) stated in their manifesto during the 14th general election campaign that undergraduates who earn less than RM4,000 a month can delay their repayment.

Due to this, the National Higher Education Fund Corporation (PTPTN) has seen a drop of about RM100 million in their average monthly collection this year (2018), reported The Star.

Wan Saiful Wan Jan, PTPTN chairman said that this drop started in January 2018 when PH released its 14th general election manifesto. 

“Last time, the average monthly loan collection was more than RM300 million per month but since January, the monthly collection has not exceeded RM300 million and has dropped to only RM200.45 million in May,” he said at the PTPTN office.

Ptptn E1530074688889

Source: the star

Mastura Mohd Khalid, PTPTN deputy chief executive also blamed Pakatan’s pledge for this decrease in the average collection. She said that borrowers had adopted the “wait-and-see” attitude when the announcement was made.

“There was definitely a drop (in payment collection) and we expect the drop to continue once this is implemented,” said Wan Saiful.

“But it is our responsibility and challenge as the new PTPTN to face the challenges of the current situation (in the country).”

Edud Ka Pg4A Ka 1

Source: the star

Earlier in March, Datuk Seri Dr Ahmad Zahid Hamidi, former deputy prime minister said that in 2015, PTPTN received repayments amounting to RM1.45 billion. This amount went up to RM3.43 billion in 2016 and RM3.98 billion in 2017.

He added that steps must be taken to ensure graduates repay their loans to safeguard the continuity of the fund as well as to help other students in need.

Meanwhile, Wan Saiful said that they are still discussing on whether they should allow those ear­ning less than RM4,000 to delay repaying their loans.

“The Education Ministry and PTPTN are working hard to obtain borrowers’ income details and hope that the Public Service Department, Inland Revenue Board, Employees Provident Fund, Retirement Fund Inc and the Armed Forces Fund Board will work together with us,” he said.

Due to the Personal Data Protection Act 2010, they might need a bit more time to obtain the income details of the borrowers. Nevertheless, the final announcement will be made by Aug 17, the 100-day mark of the PH manifesto.

Borrowers will have to continue paying their loans for now until the Government has worked out a way to fulfil its manifesto pledge. Currently, the grace period for loan repayment is 12 months upon completion of study, as compared to the six-month period previously.

PTPTN borrowers, if you want to contribute to your country, you should pay back your loans. It’s the least you can do to help Malaysia’s financial situation, don’t you agree? 

 

Also read: PTPTN Counters Will NOT Be Accepting Cash Payments Starting July 1

Ptptn Counters Will Not Be Accepting Cash Payments Starting July 1 World Of Buzz 2 1 E1530073667272


Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Pjimage 2021 08 03T183409.414 Pjimage 2021 08 03T183409.414
News10 hours ago

JUST IN: UMNO Revokes Support From PN Government, Muhyiddin Loses Majority Vote

While the country came to a minor standstill last week after the YDPA essentially called out the Perikatan Nasional government...

Shamsul Shamsul
News10 hours ago

JUST IN: Shamsul Anuar Resigns As Minister Of Energy & Natural Resources

Datuk Seri Dr Shamsul Anuar Nasarah has resigned from his position as Minister of Energy and Natural Resources as of...

Scam2 Scam2
News1 day ago

Woman Scammed Of RM11,700 After ‘Virtual Lover’ Asks Her To Pay His Quarantine Costs In M’sia

A woman in her 30s from Kelantan was scammed of RM11,700 after she was tricked by a ‘virtual lover’ to...

States Into Third Phase States Into Third Phase
News1 day ago

Perlis, Sarawak & Labuan To Move On To Phase 3 Of PPN, Most Businesses & Dine-In Allowed

<cries in Selangor> It’s time to be honest, if interstate travel was allowed, we would be moving to these states....

An San Tokyo 2020 Short Hair An San Tokyo 2020 Short Hair
News2 days ago

S.Korean Male Netizens Demand An San’s Gold Medals To Be Returned As She’s A “Short-haired feminist”

What do we feel when our nation’s athletes win an Olympic medal? We would definitely feel happy and proud that...

Belarus Sprinter Belarus Sprinter
News2 days ago

Belarus Sprinter Forced To Leave Tokyo 2020 Olympics After Speaking Out Against Coaches

Belarusian sprinter, Krystsina Tsimanouskaya refused to board a plane home on Sunday (1 August) after being forced to leave following...

Dr Noor Hisham Parliament Dr Noor Hisham Parliament
News2 days ago

Contagious Delta Variant Might Be In The Parliament, Says Health DG

29 July was a momentous day for Malaysians as a series of events led to the closure of the parliament...

Opp Mp Gathered Dataran Merdeka Opp Mp Gathered Dataran Merdeka
News2 days ago

Opposition MPs Gather At Dataran Merdeka After Finding Roads Leading To Parliament Closed

The previous week of Parliament reconvening has been nothing short of a spectacle. With raised voices and small charts, the...

Announcement

Latest Videos



TRENDING TODAY