PTPTN borrowers want discounts on loan settlement

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PETALING JAYA: It’s been three years since discounts were offered to borrowers from the National Higher Education Fund Corporation (PTPTN), and they are happy with the potential savings.

The government has agreed to give discounts to PTPTN borrowers if they make payments from Nov. 1 to April 30, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.

He said borrowers would get a 15% discount if they made a full settlement of their loans.

“(There will be) a 12% discount for payments if at least 50% of the unpaid balance in one payment (is made),” he said when tabling the 2022 budget yesterday.

He also said there would be a 10% discount if the refunds were made by payroll deduction or direct debit according to the schedule.

Chow Shenn Kuan, 25, of Taiping, said she was happy to hear about the discounts and savings she would get on her outstanding balance.

Chow said she diligently paid off her student loan through payday deductions.

Calling the 15% discount “a generous offer for the Malaysian family,” she said she would, however, continue to pay through payroll deductions as she did not have the funds to repay in full.

Masters student Ethan Ganes, 24, said he could go for the 10% discount because he felt the full refund discount was too low.

“I don’t think many can afford to pay off their loans in advance,” he added.

Meanwhile, 24-year-old Blake Tan has also said he could opt for the 10% discount as soon as he gets a job.

“Any form of discount would be extremely helpful, especially for those of us in B40 support.

“However, I don’t think many of us would be able to use the 15% and 12% loan repayment because we don’t have the financial means to do so, which is why we had to contract the loan, ”he added.

Tengku Zafrul also said that RM 450 million has been allocated to provide higher education students in the B40 group with mobile tablets.

He said the PerantiSiswa Keluarga Malaysia initiative would benefit 600,000 students.

Commenting on the initiative, Jinghann Hong, senior executive (program) of the Tunku Abdul Rahman Foundation, said the allocation of digital tablets was “very encouraging news.”

“Even though universities have returned to physical classes, not all students are ready to come back,” she said, adding that delivery of the devices should be a priority.

“It also goes without saying that the donation of devices must be associated with the improvement of the Internet infrastructure. “


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