PTPTN Repayments Have Dropped By RM100 Million Since PH Announced Its GE14 Manifesto
The corporation used to collect more than RM300 million per month.
By Samantha Khor — 27 Jun 2018, 01:28 PM
The average monthly collection for PTPTN loan repayments have dropped since Pakatan Harapan released its manifesto for the 14th General Election (GE14) earlier this year
According to a report by The Star, National Higher Education Fund Corporation (PTPTN) chairman Wan Saiful Wan Jan said the drop began in January 2018 when Pakatan Youth announced the coalition's plans to allow PTPTN borrowers to defer repayment if they earn less than RM4,000 a month.
It was later included in Pakatan Harapan's GE14 100-day manifesto, which was unveiled in March.
New PTPTN chairman Wan Saiful revealed that the monthly collection has been less than RM300 million per month since January, dropping to RM200.45 million in May.
In comparison, the average used to be more than RM300 million per month.
"There was definitely a drop (in payment collection) and we expect the drop to continue once (the promise in the manifesto) is implemented," he was quoted as saying by The Star.
PTPTN deputy chief executive Mastura Mohd Khalid said that many borrowers wanted to "wait and see" following PH's announcement and delayed settling their loans, hence the drop in repayments
With that said, Wan Saiful added that PTPTN is still looking into how the corporation can fulfill PH's 100-day manifesto in allowing those earning less than RM4,000 to defer their loan payments.
A final decision is expected to be made by 17 August, the 100-day mark of the manifesto.