PTPTN Borrowers Graduating With First Class Degrees Are Exempted From Repaying Loans
The loan repayment exemption hopes to encourage students to work hard and obtain the best result in their tertiary education.
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National Higher Education Fund Corporation (PTPTN) students who graduate with a First Class bachelor’s degree will be exempted from repaying their loans.
According to NST, Prime Minister Datuk Seri Ismail Sabri Yaakob said the exemption applied to borrowers who graduated from 2019 onwards, irrespective of their economic background, race or religion.
This (exemption) is to encourage students in the country to work hard in order to obtain the best result for their tertiary education.
Prime Minister Datuk Seri Ismail Sabri
Free Malaysia Today reported that PTPTN would discuss the allocations required with the finance ministry.
In February, the government announced that almost 80,000 students were eligible for loan repayment exemptions, totalling RM2.06 billion from PTPTN.
PTPTN has helped to provide access to education for many people. PTPTN turns 25 this year and it’s hoped that it continues to assist people to further their studies.
To date, PTPTN has assisted 3.67 million people in the country and provided RM66.87 billion worth of loans. I believe many people who benefited from PTPTN’s assistance went on to achieve success through employment and standard of living, subsequently becoming ‘assets’ or human capital for the nation.
Prime Minister Datuk Seri Ismail Sabri
Ismail Sabri also launched PTPTN’s Education Savings Club and the my-PTPTN app during PTPTN’s Silver Jubilee celebration.
Based on a report by The Edge, the Education Savings Club helps to increase financial literacy among children.
The other effort to ensure no one in Keluarga Malaysia is left behind is the cooperation with state governments to give incentives to newborns via a Simpan SSPN account.
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