Deputy Education Minister Teo Nie Ching also said the National Higher Education Fund Corporation spent between RM3.7 billion and RM4.3 billion on average every year to provide study loans for 180,000 new borrowers and 420,000 current borrowers.
She said PTPTN had approved loans worth RM72.1 billion to more than three million borrowers.
“From that amount, RM36.5 billion is for borrowers in public institutions and RM35.5 billion for those in private institutions,” she said, adding that RM57.7 billion has been withdrawn by borrowers so far.