PETALING JAYA: The National Higher Education Fund Corporation (PTPTN) today said it is ready to hear the grouses of borrowers, some of whom have been asked to pay as much as RM1,200 a month as repayments for their study loans.
PTPTN chairman Wan Saiful Wan Jan said in a statement that the loans must be paid back as borrowers had agreed to this when they signed the contract.
However, he is ready to consider the pleas of those in need of “special consideration”.
Yesterday, Wan Saiful, at a briefing on the new mechanism announced in Budget 2019, said borrowers earning RM2,000 and above will have 2-15% of their salaries deducted to repay their student loans.
While the repayment amount for those earning RM2,000 is only RM40 a month, the figure spikes for those earning RM8,000 and above as they will have to fork out 15%, or RM1,200, each month.
This has resulted in many PTPTN borrowers voicing their frustration on social media, saying they are unable to pay the hefty amounts and take care of their families at the same time.
Wan Saiful said the scheduled salary deductions (PGB) by the employers do not breach the contract signed by borrowers.
The students had agreed to pay back their study loans through any means set by PTPTN, including PGB, he said in response to those who claimed that the scheduled deductions were against the contracts that they signed.
“There are also those who claim employers have no right to make deductions through their salaries.
“Section 29 of the PTPTN Act 1997, empowers PTPTN to instruct employers to make these salary deductions. The law is already in place,” he said.
Wan Saiful further defended PTPTN’s move to get borrowers to pay up as this is meant to benefit new students who would need help to finance their studies in future.
“This was not an easy decision for us to make,” he added.