394,000 PTPTN borrowers benefit from discount offer
Published on: Saturday, March 23, 2024
By: Bernama
Prime Minister Anwar Ibrahim announced the PTPTN repayment discount when he tabled the 2024 budget last October. (Bernama pic)
Kuala Lumpur: More than 394,000 borrowers of National Higher Education Fund Corporation (PTPTN) loans have taken advantage of a discount offer of between 10% and 15% on their repayments.
Total repayments from Oct 14 last year to Jan 31 this year amounted to RM442.09 million, a spokesman for the credit counselling and debt management agency (AKPK) told Bernama.
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This was after discounts amounting to RM57.78 million.
Prime Minister Anwar Ibrahim announced the discount, effective from Oct 14, 2023 to March 31 this year, at the tabling of the 2024 budget last October.
AKPK also said more than 9,000 applicants of the credit management programme who borrowed from PTPTN had restructured their debts as of December.
“Individual credit assessments conducted via CCRIS reports by Bank Negara Malaysia could be affected if loans or financing are not repaid as per the terms and conditions stipulated by the credit institutions, and this includes PTPTN loans,” the spokesman said.
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The agency said sound financial management could alleviate the burden of individuals grappling with economic challenges or those having substantial debt.
“Therefore, we consistently emphasise the importance of having the right perception of financial wellbeing,” the spokesman said.
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“It is crucial for the public to be aware of the need to strike a balance between financial management responsibilities and meeting obligations to settle existing loans.”
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