‘Incentives ease debt burden’

KUALA LUMPUR: A total of 1.5 million borrowers of the National Higher Education Fund Corporation (PTPTN) should seize the opportunity to repay their loans through incentives announced in the 2017 Budget.

Its chairman, Datuk Shamsul Anuar Nasarah, said PTPTN expected to see an increase of 10 per cent in loan repayments via payment methods such as online, direct debit and salary deduction.

“The incentives will help ease their burden as they will indirectly reduce the amount of debt that needs to be paid off.

“This incentive is open to all PTPTN borrowers, including those subjected to enforcement action. They just need to start and continue their repayments.”

Shamsul said the incentives would raise awareness among borrowers who are already working to consistently make repayment through salary deduction or direct debit.

The incentives include a 10 per cent discount for payments of at least 50 per cent of the outstanding debt in a single payment, which includes a 10 per cent discount for repayment through salary deduction or direct debit in accordance with the repayment schedule, he said.

The incentives are effective until Dec 31 next year. Bernama