A total of 753,058 people who took study loans from the National Higher Education Fund Corporation (PTPTN) have yet to make any debt repayments, owing it RM5.191 billion, Putrajaya said today.
News portal Malaysiakini reported Higher Education Minister Datuk Seri Idris Jusoh as telling Parliament that as of August 31, 1,917,033 students who took PTPTN loans had completed their studies.
“A total of RM18.311 billion was supposed to be collected from the former students.
“However, out of that total number, only 1,163.975 paid their dues, resulting in RM9.6 billion collected,” Idris was quoted saying.
The minister reportedly said RM8.710 billion has yet to be collected, comprising RM5.191 billion due from 753,058 PTPTN defaulters and RM3.518 billion in arrears yet to be fully repaid by the remaining borrowers.
Prime Minister Datuk Seri Najib Razak announced during the tabling of Budget 2017 several measures to encourage repayment of PTPTN loans, such as a 15 per cent discount on students’ outstanding debt for full settlement, as well as a 10 per cent discount for those who pay at least 50 per cent of the outstanding debt in a single payment.
Those repaying through salary deduction or direct debit in accordance with the repayment schedule will be given a 10 per cent discount.
Source : The Malay Mail Online