Moratorium for PTPTN borrowers extended

THOSE who have borrowed from the National Higher Education Fund Corporation (PTPTN) for their education will have their loan moratorium extended to December, Higher Education Minister Datuk Dr Noraini Ahmad told the Dewan Rakyat yesterday.

She said the government made the decision following the announcement on a three-month extension of the moratorium on bank loans.

Speaking during her winding-up speech on the debate on the royal address, Noraini said the government had earlier decided that the PTPTN loan moratorium would end next month.

“An estimated 1.5 million borrowers had benefited from the first moratorium involving RM760 million.

“The extension of the PTPTN loan moratorium will involve another RM375 million, bringing the total to RM1.125 billion.”

Noraini said the government was always looking for ways to help PTPTN borrowers, adding that those who are unable to repay their loans could arrange to reschedule their payments.

She added the government wants to help PTPTN borrowers, but it also has a duty to protect the organisation.

Responding to a question by Syed Saddiq Syed Abdul Rahman (Independent–Muar), the minister said the government would not proceed with the repayment scheme mooted by the previous administration.

Noraini said the previous administration had proposed to allow borrowers to start servicing loans only when their monthly salary reached RM4,000.

She said to help borrowers, PTPTN had introduced several initiatives.