Shocking PTPTN Stats the Parliament Was Not Expecting to Hear
The Dewan Rakyat today heard that thousands out of the 1.24 million PTPTN borrowers have not repaid their loan. Other demographic info about PTPTN defaulters has also been released. What is the government doing about this?
By Mei Mei Chu — 01 Oct 2013, 03:47 PM — Updated almost 11 years ago
More Than 100,000 PTPTN Loan Holders Have Been Blacklisted By Immigration Dept
About 132,801 National Higher Education Fund (PTPTN) loan holders with a total loan size of RM2.11 billion have been blacklisted by the Immigration Department as of Sept 30, 2013.
Second Deputy Education Minister P Kamalanathan told the Dewan Rakyat that a total of 1.33 million PTPTN loan holders have yet to repay loans amounting to RM9.51 billion. Kamalanathan said action will be only taken against the loan holders who failed to turn up after 16 months from the date the students completed their studies whereby a notification letter will be sent to remind them of their responsibility.
theposto.com
From the total number of loan holders, 903,920 loan holders or 68% has paid their loans, totalling RM4.82 billion. Another RM4.69 billion worth of payments involving 425,792 loan holders were backlogged even though they were offered for a revised, minimal installment method called Ujrah . Ujrah system only charge 1% interest rate, the lowest ever, he told the House.
“ None of the loan holders were blacklisted without given opportunities to defend themselves. We are always open for discussion.
“ If let’s say the student is still unemployed after 16 months, he or she can always approach us and explain so that we can prepare some kind of adjustments in terms of payment method for them, ” he said.
theposto.com
Kamalanathan urged loan holders who still have not started to make any payments on their PTPTN loan to approach and consult PTPTN officers as soon as possible to avoid being blacklisted in the near future.
Tan Sri Muhyiddin Yassin says there are a total of 412,245 borrowers who have not repaid their PTPTN loan
Tan Sri Muhyiddin Yassin says there are a total of 412,245 borrowers who have not repay their PTPTN loan
Image via postgraduate.myA TOTAL of 412,245 people out of the 1.24 million who had taken study loans from the National Higher Education Fund Corporation (PTPTN) have yet to repay the money they had borrowed from the scheme.
thestar.com.myHe said there were currently 1.24 million PTPTN borrowers when replying to a written question by Lim Lip Eng (DAP-Segambut) at the Dewan Rakyat in Kuala Lumpur today.
malaysiakini.com
The largest majority of loan defaulters are Malays, followed by Chinese and Indians
The deputy prime minister said, of the total, Malays formed the largest number of defaulters at 328,550, followed by the Chinese (55,445) and Indians (28,250).
themalaymailonline.com
Kelantan has the most number of PTPTN recipients and defaulters, followed by Kedah
Kelantan has the most number of PTPTN recipients and defaulters, followed by Kedah
Image via pakdi.netIn terms of state, Kelantan tops the number of recipients (131,945) and defaulters at 54,446 while Kedah is in second place with 41,325 owing out of 114,160 total recipients.
fz.com
Despite being the fourth state in the number of recipients (74,488), Sabah is third in defaulters with 32,428 owing in payments.
fz.com
Terengganu which lists 77,466 recipients has 29,089 defaulters owing dues and Perlis has 5,129 people with arrears out of a total of 14,849 recipients.
fz.com
36% of male students and 33% of female students failed to reply their loans
Education Minister Tan Sri Muhyiddin Yassin said the breakdown revealed that 188,371 or 36% of male students had failed to repay their loans, out of 527,152 male borrowers, while 265,305 or 33% female students, out of 814,221 female borrowers, had also failed to repay their loans.
thestar.com.myMuhyiddin says current enforcement includes blacklisting defaulters from leaving the country, summonses and awareness programmes
Muhyiddin said the enforcement implemented included blacklisting errant borrowers from going overseas, as well as summonses to raise defaulters' awareness, understanding and responsibility to repay their loans.
malaysiakini.com
He clarified that such action was not made arbitrarily, without any room for borrowers.
bernama.com.my
However, the corporation chooses to be flexible about collecting dues, sending out reminders, restructuring the loans to ease repayment or extending the payback period.
fz.com
PTPTN also give borrowers incentive and discounts to encourage them to replay their loans
Apart from that, he said PTPTN had also given borrowers an incentive as announced by Prime Minister Datuk Seri Najib Tun Razak in the 2013 Budget last year.
abnxcess.com
It involved a 20 per cent discount for the settlement of the entire loan from October 1, 2012 to September 30, 2013 while PTPTN would continue to give a 10 per cent discount annually for those who made consistent repayment according to schedule from October 1, 2012.
themalaymailonline.com
Muhyiddin said PTPTN had opened 12 state PTPTN offices, two one-stop centres and four branch offices at strategic locations to enable borrowers to negotiate loan settlement.
malaysiakini.com
Pakatan Rakyat wants PTPTN to be abandoned and replaced with free education due to the high rate of loan defaulters
Pakatan Rakyat wants PTPTN to be abandoned and replaced with free education due to the high rate of loan defaulters
Image via wordpress.comThe high rate of loan defaulters have prompted Pakatan Rakyat to call for its scrap, saying students cannot afford to settle the loans.
fz.com
According to research conducted by PKR, most students opined that they would pay for their loans if interest rates and administration fees were scrapped.
fz.com
Pakatan instead proposed free education for students, but only after restructuring the expenditure and distribution of capital in the nation.
fz.com
Have something to say about this? Facebook or Tweet us!
Get all latest news here on SAYS (@SAYSdotMY). Tweet us and let us know what's happening around you! We'll feature it on SAYS.
twitter.com
SAYS is Malaysia's social news network. Find today's must-share stories, news and videos everyday, produce and brought to you by Malaysian social media users!
facebook.com