Evidently we Malaysians are terrible when it comes to repaying loans, because PTPTN had a whole 10-point proposal to recoup study loan funds.
The National Higher Education Fund Corp (PTPTN) deputy CEO Wan Saiful Wan Jan has suggested re-implementing the travel ban on PTPTN loan defaulters.
PTPTN deputy CEO (policy and operations) Mastura Mohd Khalid said that after discussing with stakeholders, they might even go further, reported Free Malaysia Today.
Among the suggestions made were to bar defaulters from renewing their passports, driving licenses, road tax and business licenses.
This means that loan defaulters can literally lose their car/job/business!
Without a valid driving licenses or vehicle road tax, many people may find it hard to commute daily for work.
However, there’s no wonder why PTPTN is panicking. The total PTPTN debt is RM39 billion, according to the Malay Mail. Adding on interest, that debt balloons to RM42 billion.
While many Malaysians are still waiting on Pakatan Harapan’s debt forgiveness promise, the RM42 billion debt doesn’t disappear just because you don’t pay it.
The only difference is that the debt will be paid back by taxpayer money.
So if you don’t have PTPTN loans, congratulations!
But if your friends still owe PTPTN, you might be the one paying for them anyway.
Or maybe don’t be that guy and pay what you borrowed la?