PTPTN loan repayment period extended by 30 months - The Star

TEMERLOH: The National Higher Education Fund Corporation (PTPTN) has extended up to 30 months the repayment period for those who obtained loans from the corporation and were still unemployed after completing their studies.

Its chairman, Datuk Ismail Mohamed Said, said the corporation had earlier given six months for them to pay back the loan.

"Later, it was extended to 24 months, and now we have prolonged it to 30 months," he told reporters here Friday.

Ismail, who is member of parliament for Kuala Krau, said the government had earlier fixed a five percent interest on the loan but currently, reduced it to only one percent.

"Those who have not found employment need to write in or contact directly the corporation's officers to inform them of their predicament.

"We are willing to discuss and consider the matter," he said, adding that to date, about 1.67 million students had obtained loans from the corporation. - Bernama

PTPTN loans will be converted to scholarships for top students - Malaysian Insider

By Adib Zalkapli

Picture courtesy of Malaysiakini

KUALA LUMPUR, Oct 23 – Graduates who pass with a first class honours or equivalent will have their National Higher Education Fund (PTPTN) loans converted into scholarships, Prime Minister Datuk Seri Najib Razak said today.

The finance minister told Parliament when tabling Budget 2010 today it was part of the government’s efforts to reward top students.

Najib also announced the setting up of merit-based scholarships for best 30 students.

“These scholarship recipients will further their education in world renowned universities,” he said.

Beginning next year, a total of 100,000 local university students will be provided with portable computers with broadband service for only RM50 per month for two years.

“This package is cheaper than the current market price,” said Najib. “Priority will be given to first year students and those from low-income families.”

Najib also said that a total of RM30 billion will be allocated for primary and secondary education which will benefit some 5.5 million students.

The sum includes RM1.6 billion for the construction of 80 new schools as well as 1,100 additional blocks and 347 school replacement projects.

“This allocation is for the construction of national primary and secondary schools, government-aided religious schools, national-type Chinese and Tamil schools and mission schools,” said Najib.

He added that an additional RM1.1 billion will also be provided to upgrade and refurbish schools, especially in Sabah and Sarawak.

Pay Before You Are Barred From Leaving The Country, Says Deputy Minister

KUALA LUMPUR, Oct 1 (Bernama) -- National Higher Education Fund Corporation (PTPTN) borrowers are advised not to wait until they are barred from leaving the country to seriously discuss repayment of their loans.

Deputy Higher Education Deputy Minister Dr Hou Kok Chung said a total of 26,000 names of hardcore defaulters who owed about RM400 million had been sent to the Immigration Department.

"As of Aug 31, 2009, a total of 124,455 letters Of demand (LOD) had been sent out but a disappointing 81,556 defaulters or 65.5 per cent did not respond to the letters at all.

"I appeal to all PTPTN borrowers to come forward early to engage with PTPTN if they find they have some difficulties in servicing their loans," he said after presenting airline tickets to two lucky parents of students from the Penang Medical College (PMC) here today.

He said the hardcore defaulters were those who had ignored every effort by PTPTN for more than five years to get them to service their loans.

Dr Hou said that although he appreciated the recent call by an employees' union to PTPTN to stop the practice of barring its loan defaulters from travelling overseas, nonetheless the union should take the moral responsibility to advise its members to comply and make all efforts to repay their PTPTN loans.

"PTPTN has provided every opportunity to the borrowers to repay their loans which includes allowing them a grace period of six months after graduation to start servicing their loans," he added.

On top of that, they were also provided with painless repayment amounts and a long period to repay besides being given friendly reminders and legal notices before they were barred from leaving the country as a last resort, he said.

Hardcore defaulters who do not travel overseas would not be be spared either as PTPTN was is already discussing with other government agencies to seek their cooperation in addressing this issue, Dr Hou said.

The students whose parents were drawn to receive the tickets are Praveena Mahadevan of Selangor and Ooi Huah Chiang of Penang.

Praveena will study at the Royal College of Surgeons in Ireland and Ooi, at the University College Dublin.

-- BERNAMA