PTPTN to carry out detailed study on loan repayment method — Wan Saiful

KANGAR: The National Higher Education Fund Corporation (PTPTN) will carry out a detailed study to identify the best method to address the issue of repayment of education loan as directed by the Cabinet.

Its chairman Wan Saiful Wan Jan said the study would be carry out next month after taking into account on views and suggestions from all parties.

“We are in the process of carrying out the study and it is expected to start by early next year as instructed by the Cabinet,” he told reporters after officiating the Perlis Motorday 2018 at the Tuanku Syed Putra Stadium, Kangar 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 to hold engagement sessions with stakeholders to obtain feedback on study loan repayment method.

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

Wan Saiful said that currently PTPTN was in the midst of processing the loan repayment as normal by using 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 to 15 per cent from the monthly income of the borrowers who were earning more than RM1,000 a month other than exemption of repayment for the B40 group if a graduate obtained Bachelor Degree First Class.

However, the announcement received numerous protests, especially from the associations representing students and university students who urged the terms to be reviewed by PTPTN.

On Nov 23, the Education Ministry announced PGB for PTPTN would be implemented as soon as the borrower’s salary reached RM2,000 a month at two per cent or RM40.

The amount of deduction will gradually increase by up to 15 per cent according to the borrower’s salary.

However, on Dec 7, Education Minister Dr Maszlee Malik announced that the new repayment scheme for PTPTN borrowers had been postponed for the agency to obtain collective inputs and feedback from all stakeholders.