CLOSE
CLOSE

New PTPTN Repayment Mechanism Could Be Announced Later This Month

Keep an eye out.


  • Share:

New PTPTN Repayment Mechanism Could Be Announced Later This Month

The Public Consultation Paper that comprises policies and latest fact on the National Higher Education Fund (PTPTN) will be presented to the public this month, Astro Awani reported.

PTPTN chairman Wan Saiful Wan Jan told the news portal that the document contains information about the new repayment scheme proposal, after gathering input from non-governmental organisations, economists, banking institutions, parents, students and experts between last December to March this year.

According to Wan Saiful, the Fund has asked for a green light from the government about a month ago to reveal the document to the public, but they still have yet to get the approval.

"As soon as we get the green light, we will present it," he was quoted as saying.

Could we see a new mechanism soon?
Last November, the Budget 2019 had stipulated that all PTPTN recipients earning more than RM1,000 would be subjected to salary deductions beginning at two per cent to repay their study loans.

The announcement drew criticism from the public and prompted the Cabinet to suspend the whole scheme in early December to pave way for further consultation.

Earlier this month, PTPTN revealed that they will conduct "public consultations" to look for ideas on how to get loan defaulters to repay their debt.

To date, the PTPTN is owed a total of RM6.3bil and their goal is to collect at least RM2bil by the end of the year.


  • Share:

Comments

Related Articles

Back to top