PTPTN TO ANNOUNCE NEW REPAYMENT METHOD, MECHANISM
It will ease burden of low-income earners, says chairman
ANEW repayment method and mechanism to repay National Higher Education Fund Corporation (PTPTN) loans will be unveiled next month.
PTPTN chairman Wan Saiful Wan Jan said the new repayment system, which would ease the burden of low-income earners, was being drafted, with meetings held with the public to get feedback on how it could best be implemented.
He said the announcement made by Finance Minister Lim Guan Eng during the tabling of the 2019 Budget with regard to the repayment needed to be given focus.
“When he said that the repayment scheme will be based on salary deduction, this will be further detailed.
“When he announced that income tax exemption will be given to those who save via the National Education Savings Certificate, the mechanism needs to be announced.
“All this will be done and implemented next month,” he said at the Perak Integrity Empowerment Seminar here yesterday.
The seminar was officiated by Menteri Besar Datuk Seri Ahmad Faizal Azumu.
Saiful said PTPTN would do its best to ensure that the new repayment method and mechanism would not burden borrowers.
“When the announcement (on the new repayment system) is made, it will show what we are doing to ensure that low-income earners are being helped, without complicating their lives with high repayment rates.
“This is something we will do. What is important is that borrowers must repay their loans.”
On Saturday, Saiful issued a public apology for being unable to fulfil Pakatan Harapan’s manifesto pledge to delay PTPTN loan repayments for borrowers who earn below RM4,000 a month.
Saiful, who was among those who penned the manifesto, said PTPTN was not trying to place a bigger burden on borrowers, but was stressing the importance of them repaying their loans.
“To those who uphold the principle of responsibility, I think this is good news because it will help other students secure PTPTN loans.
“On the other hand, to those who insist on politicising the issue by demanding that we press ahead with something we cannot do due to legacy problems (from the previous administration), I think there is nothing more we can do.”