PTPTN Suspends Loan Repayments For All Borrowers Due To COVID-19 Outbreak

The initiative comes into effect immediately until September.

Cover image via Oh Media & South China Morning Post

UPDATE: Prime Minister Tan Sri Muhyiddin Yassin announced that the postponement of The National Higher Education Fund (PTPTN) will extend until September

After the Prime Minister announced the extension of the Movement Control Order (MCO), he said that other policies in place such as Employee Provident Fund (EPF) withdrawals and PTPTN loan repayments would be reviewed.

On Friday, 27 March, he confirmed that PTPTN loan repayments would be deferred for six months until September instead of June.

Previously, PTPTN announced that they will be deferring all loan repayments due to the COVID-19 outbreak

On Thursday, 19 March, PTPTN announced the move on their official Facebook page.

The post read, "Suspension of PTPTN loan repayments due to the COVID-19 outbreak. [We] hope that this announcement from the government will help ease the burden on borrowers."

The deferment is expected to benefit 1.5 million borrowers and it comes into effect immediately until 30 June

According to the PTPTN website, all loan borrowers are eligible for the repayment suspension.

It will automatically apply to everyone without the need to submit a request or appeal.

Meanwhile, those who would like to continue their loan repayment through salary deduction or direct debit may do so by applying through the PTPTN official portal from 23 March until 15 April.

Image via Oh Media

PTPTN promises that they will revise this initiative from time to time and will consider extending the suspension if the COVID-19 pandemic continues to impact the economy

They have published a list of Frequently Asked Questions (FAQ) on their website and you can find more information on their Facebook page.

The government will be offering free food to public university students who did not return to their hometowns during this 14-day Restriction of Movement Order (RMO):

If you would like to help other people get through this trying time, take a look at these initiatives launched by local NGOs:

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