A total of 1.5 million borrowers of the National Higher Education Fund Corporation (PTPTN) should seize the opportunity to repay their loans through various incentives announced in the 2017 Budget.
Its chairman Datuk Shamsul Anuar Nasarah said in line with the incentives announced in the budget, PTPTN expected to see an increase of 10 per cent of loan repayment via various payment methods such as online, direct debit and salary deduction.
“The incentive announced will help ease the burden as it will indirectly reduce the amount of debt that needed to be paid off.
“This incentive is open to all PTPTN borrowers including those subjected to enforcement action. The borrowers just need to start and continue their repayments,” he said in a statement yesterday.
According to Shamsul Anuar, the incentives will also raise awareness among the PTPTN borrowers who are already working to make repayment consistently through salary deduction or direct debit.
Prime Minister Datuk Seri Najib Razak when tabling the 2017 Budget at the Dewan Rakyat yesterday said the incentives included a 15 per cent discount on the outstanding debt for full settlement.
Another incentive is a 10 per cent discount for payments of at least 50 per cent of the outstanding debt in a single payment, which also includes a 10 per cent discount for repayment through salary deduction or direct debit in accordance with the repayment schedule, he said.
The incentives are effective today until December 31, 2017.
Source : Bernama Online