410,500 PTPTN borrowers owe RM2.79b, haven’t repaid a single sen

 |Nov 14, 2017

KUALA LUMPUR: Some 410,500 National Higher Education Fund Corporation (PTPTN) borrowers owe RM2.79 billion and these errant individuals have not even repaid a single sen.

Higher Education Minister Datuk Seri Idris Jusoh revealed this yesterday in a written reply.o
The New Straits Times reported Idris saying the government should have collected RM18.97 billion but only RM12.13 billion was collected until Sept 30.

He said a total of RM6.84 billion was owed by borrowers, of which 410,500 of them had not even paid a single sen.

“Out of the RM6.84 billion, RM2.79 billion involved borrowers who have yet to pay a single sen, while RM4.05 billion involved those who are currently paying, but not according to the amount of installment set.

“Out of the 410,500 borrowers who have yet to make payments, 355,272 borrowers involving RM2.44 billion are Bumiputera while 55,228 borrowers involving RM0.35 billion are non-Bumiputera,” he said in the written reply dated Nov 8.

Idris was reponding to a question by DAP’s Bakri member of parliament Er Teck Hwa, who had asked for the number of students who paid in full, partially or defaulted on their PTPTN loans.

Idris said since PTPTN was introduced, 1,900,743 borrowers have graduated from universities until Sept 30.

“Out of the paid amount of RM12.13 billion, RM6.55 billion was collected from 970,330 Bumiputera borrowers, while RM5.58 billion was collected from 519,913 non-Bumiputera borrowers.”

PTPTN chairman Datuk Shamsul Anuar Nasarah said the 410,500 borrowers comprised 58 per cent who had completed their studies in the last four years while 41 per cent had graduated between five and 12 years ago.

The one per cent balance were those who had graduated more than 12 years ago, he added.

On Oct 28, Prime Minister Datuk Seri Najib Razak announced in the 2018 Budget that a 20 per cent discount would be given to those who settled their loans by December next year.

A 10 per cent discount would be given to those who settled half of what they owed, as well as for those who paid their loans via salary cuts or direct debit according to schedule.