First class degree graduates beginning 2019 exempted from paying back PTPTN loans – PM Ismail


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KUALA LUMPUR JULY 27: Students who acquired the first class degree in their studies regardless of economic status, race and religion will be exempted from paying back the National Higher Education Fund (PTPTN) loan and this will apply to graduates starting from 2019.

Prime Minister, Datuk Seri Ismail Sabri Yaakob hopes that PTPTN will discuss with the Ministry of Finance on this matter and the allocation involved. This initiative is an encouragement for students to study hard and get excellent results in their studies.

Ismail added, he appreciates the PTPTN’s Family for their commitments and services in ensuring that no Malaysian Family is left behind to further their studies to the higher level.
“To date 3.67 million Malaysian Family has been assisted to further their studies involving loans amounting to RM66.78 billion.

“I would like to stress that paying back the education loan is very important to guarantee the continuity of new students who will be the future generation. Until end of June 2022, more than two million or 82.04 per cent loan borrowers have paid back their dues with the total collection of RM17.8 billion,” Ismail said.

He said that in his speech in conjunction with the PTPTN Silver Jubilee celebration at the MATRADE Exhibition and Convention Centre here today.

“For those who have not paid, I advise them to clear the payments so that the processing of loans for others will not be postponed or delayed,” Ismail reiterated.

PTPTN had launched the mobile-app my-PTPTN on 29th March 2022 and with that customers could check the loan payment and payment made via Direct Debit, open account and salary cut application and register for the National Education Saving Scheme or SSPN Saving, at anytime, anywhere as it is easy, fast and safe.

With the new apps, 176,140 customers have registered until 30th June 2022.

Ismail added, the government through PTPTN has allocated more than RM3 billion a year to offer educational loan to almost 180,000 new students who have succeeded in furthering their studies to a higher level.

Meanwhile, the government has provided the SSPN initiative since 2004 to ensure the Malaysian Family is not fully dependent on the loan that becomes a burden in future. The SSPN Savings had shown an encouraging performance with loan deposits amounting to RM12.5 billion covering 5.4 million accounts until end of June 2022.

In another development, the Education Saving Club had been launched to increase financial literacy among children and to instil the importance of funding awareness for their future via SSPN Saving.

Ismail said, the Club will operate under the club co-curriculum and school association that could be selected by students to participate in the activities that is stipulated under the Education Procedures (School Association) 198 under Education Act 1996 (Act 550).

“Thirteen schools in five states have registered to make the Education Saving Club as a club and association in the school co-curriculum module,” Ismail said. –Malaysia World News

 

 


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