RM37 billion PTPTN loans until Nov 2010
TEMERLOH: The National Higher Education Fund Corporation (PTPTN) has given out RM37 billion in loans to students since its establishment in 1997 until November this year.
Its chairman Datuk Ismail Mohamed Said said with the loans, 1.7 million students were able to further their studies at public and private higher learning institutions.
"However, only 77 per cent of the recipients repay their loans after completing their studies," he said after presenting school uniforms and bags to excellent students as well as poor students in the Kuala Krau parliamentary constituency, here, today.
He lamented that 191,262 borrowers had never paid back their loans despite being issued with several reminders and summons notices.
Ismail said for this year, PTPTN targeted to receive RM5 billion in repayment of loans but until November, only RM4.8 billion was received. - Bernama
Its chairman Datuk Ismail Mohamed Said said with the loans, 1.7 million students were able to further their studies at public and private higher learning institutions.
"However, only 77 per cent of the recipients repay their loans after completing their studies," he said after presenting school uniforms and bags to excellent students as well as poor students in the Kuala Krau parliamentary constituency, here, today."Voluntary repayment of loans through salary deductions, bank standing instructions and online is seen to be ineffective.
"So we hope the proposed amendments to the PTPTN Act 1997, making it compulsory for borrowers to repay their study loans through salary deductions, can be implemented from next year," he said.
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