PETALING JAYA: National Higher Education Fund Corporation (PTPTN) chairman Wan Saiful Wan Jan today appealed to all loan defaulters to pay up, even if the amount is small.
“I am appealing to all borrowers out there to approach PTPTN.
“Think of the future generations who need funds to continue their studies,” he said in an interview entitled “Sayangi Generasiku” tonight on Radio Televisyen Malaysia (RTM).
Wan Saiful said currently there are 1.8 million borrowers but 20% of them had never paid a single sen since they finished their studies.
He said previous weaknesses in maintaining records had made it difficult for PTPTN to trace some of these 353,000 defaulters.
He said since the number was high, PTPTN was focusing on this group.
He said about 33% of borrowers were inconsistent in settling their dues while the rest were paying regularly.
Earlier reports had stated that PTPTN was still studying a new loan repayment method for borrowers.
A repayment mechanism introduced early this month drew protests from borrowers, with many claiming the amount sought by PTPTN was too high.
Borrowers earning RM2,000 and above were told they would have 2-15% of their salaries deducted to repay their student loans.
While the repayment amount for those earning RM2,000 was only RM40 a month, the figure spiked for those earning RM8,000 and above as they would have to fork out 15%, or RM1,200 each month.
The method was later put on hold and PTPTN announced it would collect feedback from all concerned before deciding on the new method of repaying loans.
Wan Saiful today said PTPTN still had enough funds to give loans to students.
If need be, loans could be obtained from banks, he said.