Students who are planning on furthering their studies won’t be able to receive a full loan for their education.

The reason being? National Higher Education Fund Corporation (PTPTN) chairman Shamsul Anuar Nasarah explained that because the loan recovery is still a long way away from its expected target, therefore PTPTN is unable to provide 100% loans.

ptptn1 loan street
Source: Loan Street

Up until December last year, PTPTN had already handed out RM56 billion in loans and needed to get back at least RM15 billion but only RM8 billion was collected. Since 2014, public universities students were given a 95% loan of their study cost while those studying in private institutions received 85%.

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I ask that the people support and understand the enforcement measures such as the Central Credit Reference Information System (CCRIS) because it is not a blacklist but is a list of Bank Negara’s credit reference system,” said Shamsul.

Student-loan-bubble ptptn imoney
Source: iMoney

Graduates who are currently finding it hard to pay back their loans are advised to contact PTPTN to restructure and reschedule their loan payments. He added that loan payment can be prolong up to 24 months after graduation but additional cost will be charged.

For more information, visit PTPTN’s official website or their Facebook page.

Sources: Bernama, Free Malaysia Today.

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