PTPTN loaner takes note. National Higher Education Fund Corporation (PTPTN) has just announced that they will draft a repayment method to collect the unpaid loans by borrowers.
Wan Saiful Jan, PTPTN chairman stated that PTPTN has accumulated RM36 billion in arrears, and this is not a small amount. The higher education fund has the responsibility to assist borrowers to settle their loans.
This draft is an important move by PTPTN as the current repayment mechanisms are clearly not working.
Since the new government has been in power, even Prime Minister Tun Dr Mahathir Mohammad has lambasted borrowers for not settling their loans even though some of them have the capacity to do so. Tun Dr Mahathir Mohammad was quoted during a lecture at Universiti Teknologi Malaysia;
“We have accumulated RM36bil in unpaid PTPTN loans. I am ashamed, but they are not… They are earning an income and can very well repay, but they don’t feel like repaying the loan they had taken,”
PTPTN, however, will not disclose the PTPTN new draft content to the public.