PTPTN to carry out study on repayment method

KANGAR: The National Higher Education Fund Corporation (PTPTN) will carry out a study to identify the best method to address the issue of repayment of education loans.

Its chairman, Wan Saiful Wan Jan, said the study would be carried out next month after taking into account views and suggestions from stakeholders.

“We are carrying out the study and it is expected to start by early next year, as instructed by the cabinet,” he said after officiating the Perlis Motorday event at the Tuanku Syed Putra Stadium here yesterday.

Organised by the Persatuan Muafakat Harapan Perlis (PMHPs), the event saw a gathering of 3,000 riders from all over the country, as well as participation of some 300 bikers from Singapore and Thailand.

On Friday, PTPTN deputy chief executive (policy and operation) Mastura Mohd Khalid was reported as saying that PTPTN would hold engagement sessions with stakeholders to obtain feedback on loan repayment methods.

The process would take between six and 12 months before the new payment method could be introduced.

Wan Saiful said PTPTN was processing the loan repayment according to the existing methods and policies.

Last month, at the tabling of the 2019 Budget, Finance Minister Lim Guan Eng announced the implementation of the Scheduled Salary Deductions (PGB) of between two and 15 per cent from the monthly income of the borrowers earning more than RM1,000 a month.

An exemption from repayment was given to the B40 group for graduates who obtain Bachelor Degree (First Class).