PTPTN borrowers urge to grab repayment discount incentive

Borrowers of the National Higher Education Fund Corporation (PTPTN) have been urged to grab the loan repayment discount incentive, which will end on March 31.

In a statement yesterday, PTPTN said that between Oct 14 last year and Jan 31 this year, more than 394,000 borrowers had benefited from the incentive, with the total discount amounting to RM57.78 million, involving repayments eligible for discounts totaling RM442.09 million.

“Through the tabling of Budget 2024 on October 13 last year, the government agreed to give PTPTN borrowers up to 15 per cent discount incentive on loan repayment for three categories.

“The three categories include a 10 per cent discount for full settlement of the remaining debt, a 10 per cent discount for a repayment of at least 50 per cent of the remaining debt in one payment, and a 15 per cent discount for repayment through salary deduction or direct debit,” read the statement.

PTPTN chief executive Ahmad Dasuki Abdul Majid thanked the government for the repayment incentive that benefits PTPTN borrowers.

He also expressed appreciation to borrowers for their commitment to making repayments, as this ensures the continuity of the education loan fund for the next generation so that no student is barred from attending institutions of higher education due to financial problems.

“We hope that borrowers will take the opportunity to repay and contact PTPTN if they have problems because PTPTN is ready to help,” he said.

In addition, he said PTPTN offers various repayment channels for the convenience of borrowers, including through the myPTPTN application, which is more accessible, faster and more secure.