PTPTN Defaulters Can Afford To Repay Loans But They Don't Want To
More than 50% of Malaysians that have been barred from travelling abroad are PTPTN borrowers.
By Tang Ruxyn — 17 Jul 2017, 11:33 AM
Many PTPTN borrowers have the financial ability to repay their loans but they are choosing not to do so
This was revealed by Higher Education Minister Datuk Seri Idris Jusoh at the Students Parliament training and debate simulation programme yesterday, 16 July.
According to Idris, a Bank Negara survey showed that a handful of National Higher Education Fund Corporation (PTPTN) borrowers who refused to settle their education loans are the same people who were able to make repayment for other loans including car and housing loans.
"Bank Negara officials met up with me to show the findings of the survey they conducted. It reveals that people who had not paid their PTPTN loans are able to pay for their car and housing loans as well as credit cards," he was quoted as saying by Bernama.
"This is happening because they just refuse to do so … not that they can't afford it."
Idris said that PTPTN should be more firm and strict towards defaulters, but not to the extent of victimising borrowers.
"Anyone who feels that they have been wronged can discuss with PTPTN. I will personally defend the students," he reportedly said.
He added that those who are having difficulties to repay their loans should not stay silent about it but instead discuss the matter with PTPTN before the authorities take action against them.
Idris' comment is a response to a question asked by a participant at the event on whether Bank Negara's move to blacklist PTPTN borrowers is justified
Loan defaulters will be listed on Bank Negara's Central Credit Reference Information System (CCRIS), which will lead to them being placed on the Immigration blacklist.
Recently, it was revealed that more than 50% of Malaysians that have been barred from travelling abroad are PTPTN borrowers.
It was reported that 622,768 Malaysians have been blacklisted between 2010 and January 2017. Out of this number, 315,458 individuals were put to blacklist because they defaulted on their PTPTN loans.