KUALA LUMPUR, 23 March 2016:
A total of 662,983 borrowers failed to pay back to the National Higher Education Fund Corporation (PTPTN) loans amounting to RM5.4 billion as of Dec 31 last year, the Dewan Rakyat was told today.
The Higher Education Ministry, in a written reply to the house, said another RM2.79 billion was arrears because some of the borrowers repaid in amounts much less than those set by PTPTN.
A total of 1.22 million of the 1.88 million borrowers, or 64.72%, had repaid RM7.14 billion of the total RM15.33 billion as of last Dec 31, the ministry said in the reply to Datuk Ahmad Fauzi Zahari (BN-Setiawangsa).
As for Ahmad Fauzi’s question on how the ministry was coaxing the borrowers to repay their loans, it said briefings were held periodically at government and private institutions.
It also said that discounts of 20% were given for settlement of loans in one lump sum between Oct 1, 2012, and Sept 30, 2013, and between Oct 10, 2014, and March 31, 2015.