PTPTN Cannot Give 100% Loans As Many Have Yet To Pay Back Theirs
Loan recovery is still a long way from its target.
By Samantha Khor — 22 Aug 2016, 09:52 AM
Students furthering their education are still not getting full loans from the National Higher Education Fund Corporation (PTPTN) as loan recovery has yet to meet its target
PTPTN loans were decreased up to 15% for students pursuing tertiary education in November 2014.
PTPTN chairman Datuk Shamsul Anuar Nasarah said loan recovery has improved recently, but is still a long way away from its expected target
Up until December 2015, PTPTN expended up to RM56 billion in loans and needed to get back at least RM15 billion, but only RM8 billion has been returned.
Hence why PTPTN had to make the difficult decision to make up to 15% cuts in loaning money to students from public universities and private institutions
Since 2014, students of public universities only received 95% of their study costs while students of private institutions received 85%.
“I ask that the people support and understand the enforcement measures such as the Central Credit Reference Information System (CCRIS) because it is not a blacklist but is a list of Bank Negara’s credit reference system," Shamsul said.
Shamsul also urged graduates who are facing difficulties in paying back their loans to contact PTPTN so that they can restructure and reschedule their loan payments
He explained that loan payment can be delayed for up to 24 months after graduation, but the administrative costs will have to be borne by the loanee.