19 August 2018

PTPTN collects RM1.84bil from blacklisted borrowers

PTPTN collects RM1.84bil from blacklisted borrowers
KUALA LUMPUR: Sixty percent of the National Higher Education Fund Corporation (PTPTN) borrowers who were blacklisted had made repayments amounting to RM1.84 billion, up to February this year.

Deputy Education Minister Datuk Mary Yap Kain Ching said the amount collected could support 76,000 new students until they completed their studies.

"The move to blacklist the borrowers was a last resort after the borrowers failed to make repayments or came for negotiations.

"The procedure to blacklist the borrowers were made under Section 22A of the PTPTN Act 1997 (Act 566).

"It is important for the borrowers to pay back their respective PTPTN loans, so that the future generation can benefit from it too, just like them."

Yap said before the borrowers are being blacklisted, a grace period of 12 months would be given for them to upon completion of their studies.

"After that, repayment notices and reminders will be sent to the borrowers. Blacklist will come into effect if the borrowers fail to make repayments or come for negotiations and have six months in arrears after the grace period has ended," she said in reply to Datuk Dr Khairuddin Aman Razali (Pas-Kuala Nerus) at the Dewan Rakyat today.

Khairuddin had asked the procedures of blacklisting individuals who fail to repay their PTPTN loan after completing their studies.

Yap added, previously the grace period was six months, however Prime Minister Datuk Seri Najib Razak, during the tabling of the 2018 Budget, had announced the grace period extension of the loan repayment to 12 months.

"This is to give the borrowers ample time to find a job."

She said PTPTN has always called on more borrowers to come forward to discuss their situations.

"For example through the #BolehBincang campaign, the borrowers can come and negotiate on amicable ways to settle their debt.

"They can restructure their debt and the loan repayment can be extended until the borrowers are 60-year-old."


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