KUALA LUMPUR: The names of 429,945 loan defaulters of the National Higher Education Fund Corporation (PTPTN) have been removed from the Immigration blacklist since May 24, said its chairman Wan Saiful Wan Jan.
He said “whitening” process of the borrowers’ names was completed last June 8, a week earlier than expected.
“This is to fulfil the 100-day pledge made by the Pakatan Harapan (PH) government in its election manifesto.
“However, those whose names have been taken out of the Immigration blacklist are advised to continue making their loan repayments,” he said today.
Wan Saiful said borrowers who had been barred from travelling abroad were now free to do so and the PTPTN counter at the klia2 would be closed down, effective July 1.
Wan Saiful is the new PTPTN chairman, replacing Shamsul Anuar Nasarah.
The consistent repayment of the education loans by the borrowers will ensure they do not have outstanding payments and a clean record in the Central Credit Reference Information System (CCRIS).
CCRIS is a centralised system developed by Bank Negara to gather and store all data on debts by individuals or companies with banks or other financial institutions and used as a reference by all financial institutions or credit providers in Malaysia.
Wan Saiful said that besides having a clean CCRIS record, PTPTN borrowers who made early settlement of their loans could also have access to an ujrah loan of 1% (a syariah-compliant education loan).
He said they would also enjoy a 20% discount for full payment or 10% for 50% settlement.
On the PH manifesto to defer payment of the PTPTN loan for all borrowers earning less than RM4,000 a month, Wan Saiful said the borrowers would have to continue paying the loan until an announcement on the matter by PTPTN in August.