Archive for the ‘Scholarships and Loans’ Category

PTPTN borrowers, you have nine days to update your info

Monday, July 16th, 2018

KUALA LUMPUR: National Higher Education Fund Corporation (PTPTN) loan borrowers have been given nine days – from July 17 to July 25 – to update PTPTN with their latest income information.

If they fail to do so, PTPTN would presume that the borrowers are not interested in applying to defer their loan repayment.

PTPTN chairman Wan Saiful Wan Jan, announcing this on Monday, said PTPTN is carrying out the information-gathering exercise before implementing the loan payment deferment for those earning under RM4,000 a month.

“All borrowers who still have outstanding loans are required to update their income information online through PTPTN’s website.

“If they fail to do so within the stipulated period, we will assume that the borrowers aren’t interested in deferring their loan repayment period,” he told a press conference at Menara PTPTN.

He said apart from the income information, borrowers also need to update their personal details such as address, phone number and email address.

Wan Saiful said PTPTN is hoping that relevant agencies such as the Finance Ministry, Inland Revenue Board (IRB) and Employees Provident Fund (EPF) will help in terms of data-sharing to facilitate the process.

“We are facing obstacles in obtaining the data as this information is protected under the Personal Data Protection Act 2010. As such, we are appealing to the relevant agencies as well as the borrowers themselves to help PTPTN with updating the information,” he said

“In any case, the loan deferment is not a ticket to escaping from paying their loans. All loans must be settled, even if it is done bit by bit.

“PTPTN is targeting a RM4 billion collection this year to enable other people who wish to apply for PTPTN loans,” he said.

He said that as of June, a total of 429,945 borrowers have been removed from the Immigration Department’s blacklist, in line with the Pakatan Harapan (PH) government’s manifesto to help the borrowers.

Meanwhile, Wan Saiful also denied that his appointment as the new PTPTN chairman runs contrary to PH’s manifesto.

PTPTN, he said, is a statutory body. This, he said, means that his appointment did not go against PH’s manifesto on not allowing political appointments, as that only applies to government-linked companies (GLCs).

“Yes, political appointments are against the PH manifesto, but it only applies to positions within GLCs, not statutory bodies.

“This issue was deliberately raised. I invite those who are criticising this appointment to re-read the manifesto,” he said.


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Maszlee sets out with plans to fix problems.

Thursday, May 24th, 2018

PUTRAJAYA: Fresh graduates drawing a salary below RM4,000 could delay repayment of their National Higher Education Fund Corporation (PTPTN) loans once the details have been hashed out.

Education Minister Dr Maszlee Malik said he was working on this “100-day promise” of Pakatan Harapan and will meet with the Immigration Department soon to discuss blacklisting measures that are currently in place on PTPTN loan defaulters.

“I am confident borrowers will repay the loan when their salary hits RM4,000, and believe there will be more repaying their loans than defaulters in the future,” he told reporters after the handover of duties from his predecessor Datuk Seri Idris Jusoh at the Higher Education Ministry yesterday.

The Simpang Renggam MP, who believes the merging of the Higher Education and Education Ministries was “not a big issue”, said he was working on abolishing the Univer-sity and University Colleges Act 1971.

Dr Maszlee will also be meeting with various parties and stakeholders to discuss matters regarding the Unified Examination Certificate, an examination held by the United School Committees’ Association Malaysia for Chinese independent high school students.

Their views and opinions will be taken into consideration to reach a solution, he said.

Dr Maszlee did not rule out the possibility of providing free education in public universities.

“It is a noble idea and a good way forward. However, the Government is fixing a sunken ship right now. We will look into this proposal after the fixing is done,” said the minister.

He added that the ministry is committed to lightening the burden of teachers and students, as part of Pakatan Harapan’s promise.

Having teacher assistants is a plan that needs to be discussed further, but will be made a reality in five years, he said.

“My long-term goal is to make sure the education system of Malaysia is world class or on par with developed nations,” he said, adding that he also hopes to instil the value of “love and happiness” and mutual respect into the education sector.
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PTPTN Act Must Be Amended For Study Abroad

Monday, December 11th, 2017

JOHOR BAHRU, Dec 11 (Bernama) –The National Higher Education Fund Corporation (PTPTN) act must be amended to enable educational funding to be expanded to Malaysian students studying abroad.

Higher Education Minister Datuk Seri Idris Jusoh said this was because PTPTN, which was set up under the PTPTN Act 1997 (Act 566), only gave out and collected loan repayments for higher educational study in the country.

However, he said the issue of recovering PTPTN loans must be emphasised first before considering the move.

“We have to table the act in Parliament to amend it, but we forget PTPTN had financial problems two years ago. So pay the loans first. Don’t be too quick to ask for it to be expanded to students abroad,” he told reporters after a ceremony to sign a collaboration certificate between the Polytechnic Education Department and MMC Corporation Berhad at Pelabuhan Tanjung Pelepas here, today.

Idris said the repayment of PTPTN loans was showing improvements lately and a bigger amount was expected to be collected at the end of the year due to the awareness of borrowers.

“The collection can be further improved upon. The amount collected was RM2 billion two years ago, RM3.4 billion last year and we expect to collect more than RM4 billion this year.This figure can be further improved, and this means Malaysians understand and are starting to make repayments,” he said.

The Puteri UMNO movement on Dec 6 was reported to have said that it wanted the education funding under PTPTN be expanded to Malaysian students studying abroad.

The movement’s chief Datuk Mas Ermieyati Samsudin was reported to have said after the National Women Student Secretariat’s (Swinas) appreciation ceremony that the funding could help ease the problem of the cost of living of the students abroad which was high and burdensome.


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PTPTN launches new facility to clear students’ bad credit record, merges previous and current loan

Wednesday, August 2nd, 2017
The National Higher Education Fund Corporation (PTPTN) is providing an overlapping facility to assist 45,866 students in clearing their bad credit record. (Pix by HAFIZ SOHAIMI)
By Sarah Rahim - August 1, 2017 @ 10:13pm

KUALA LUMPUR: The National Higher Education Fund Corporation (PTPTN) is providing an overlapping facility to assist 45,866 students in clearing their bad credit record.

PTPTN chairman Datuk Dr Shamsul Anuar Nasarah said this would help students, who had two separate PTPTN loans for their diploma and degree studies, prior to Apr 6, 2016.

He said that 32,213 students who applied for their second loan after Apr 6, 2016, are already enjoying this new arrangement.

These students had received a bad credit record when they did not repay their diploma loans as they had furthered their studies and were currently undergoing their Bachelor’s degree, with the assistance of a PTPTN loan.


This latest move will allow students to combine or overlap the outstanding balance from their previous education loan (diploma) with the current loan (degree).

“This will help the students who currently have two separate loans with PTPTN. By doing so, they will have their credit records at the Central Credit Reference Information System (CCRIS) cleared, effective Aug 15,” he said at a press conference at Menara PTPTN here yesterday.

Shamsul said this group of students will also not be blacklisted by the Immigration Department or have any legal action taken against them, as their records will be cleared.

“For example, if a degree student with RM15,000 outstanding loan from diploma studies applies for RM21,000 to fund their degree, he will be given a total loan amount of RM36,000,” he said.

He said therefore, the degree student will only start paying for his combined diploma and degree loans, six months after completion of his degree.

Shamsul said this would also apply for Master’s students with prior education loans. They can then combine their previous loans with their existing loan.

He said those who have a gap period between continuing their studies after completing their diploma or degree will also have the remaining outstanding balance included in their current loan application.

“We hope with this, students will be able to focus on their studies and not to be burdened with issues regarding education loans,” he said.

Shamsul pointed out that for students to combine their loans, all conventional loans need to be converted to the ujrah system. Students can call PTPTN Careline at 03-21933000 to convert their loans.

Under the ujrah system, the administration fee will only be one per cent.

“At present only 545 students are affected by this have yet to convert their loan to ujrah system,” he said.

By Sarah Rahim.

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Kek Lok Si Foundation sets up RM500k undergrad fund.

Saturday, May 13th, 2017

THE Kek Lok Si Foundation has set up a RM500,000 fund to help needy students pursue university degrees.

The fund is for all Malaysian students, aged above 18, regardless of race or religion.

Applicants need not have excellent examination results at school to get the partial scholarship, said foundation board member and Kek Lok Si Temple trustee Datuk Steven Ooi (pic).

“Many scholarships are based on academic performance, but we want to help students who really need financial aid to have a chance at getting a degree.

“Our main criterion is the financial situation of the applicants’ families,” he told reporters at Kek Lok Si Temple in Air Itam, Penang,

Also present were foundation adviser Datuk Oo Jooi Tee and Kek Lok Si Temple abbot Seck Xien Kwan.

Ooi added that applicants can pursue their degrees in public or private universities or colleges.

The foundation’s education section head Dr Wong Teik Aun said the scholarship, introduced last year, attracted nearly 200 applicants.

“We approved 140 and disbursed RM441,000 to them. We expect to get more than 200 applications this year,” he added.

The Kek Lok Si Foundation is a non-profit charity of Kek Lok Si Temple. According to foundation president Datuk Seri Venerable Seck Jit Heng, the foundation actively runs healthcare, education and social welfare activities yearly.

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PTPTN uses CCRIS to ensure that loan takers settle their dues accordingly.

Sunday, April 23rd, 2017

PETALING JAYA: It’s an acronym that loan takers of the National Higher Education Fund Corporation (PTPTN) should be aware of.

CCRIS, or the Central Credit Reference Information System, has a list of their names to ensure that these borrowers repay their loans accordingly.

“If they are good paymasters, borrowers will have a good record (in the CCRIS). They will have no pro­blem when they apply for new loans.

“Their names will be taken off the list once they have fully settled their PTPTN loans,” PTPTN deputy CEO (Policy and Operations) Mastura Mohd Khalid (pic) said.

CCRIS is a database used by financial institutions to evaluate those who apply for loans.

She said all PTPTN borrowers would be listed in the CCRIS once it is time for them to start paying back, which is six months after graduation.

Mastura said PTPTN started to use CCRIS in June 2015.

When a borrower accumulates more than 12 months of PTPTN arrears, she said their names would be sent to the Immi­gration Department which would bar them from leaving the country.

“Having your name on the CCRIS does not amount to a ‘punishment’. Instead, it is a tool that ensures borrowers are disciplined in repaying their loans,” Mastura said.

PTPTN has provided various means to make it more convenient for borrowers to settle their loans.

On April 1 last year, the corporation announced the option of repaying the loans through online withdrawals of the Employees’ Provident Fund (EPF) Account II.

Of the RM680mil PTPTN collected in January and February, repayment through this option made up 12.9% or RM87.94mil.

Mastura said this was done in 48,911 transactions.

Currently, the amount of arrears owed to PTPTN is about RM7.8bil.

“I believe borrowers would choose to repay their loans through their EPF Account II to clear the arrears before they restructure their loan to ensure they have a clean record in the CCRIS,” she said.

Prior to the option of online withdrawal from their EPF accounts, borrowers had to take out their savings by filling up forms at EPF offices.

In a statement on Friday, PTPTN chairman Datuk Dr Shamsul Anuar Nasarah said: “There is indeed a significant increase in the amount of repayment received through borrowers’ EPF account II in October, November and December 2016.

“This came up to more than RM100mil each month.

“Overall, from RM3.4bil in repayments received last year, only 32% of it was repaid through borrowers’ EPF Account II.”

Shamsul’s comments was in refe­rence to EPF’s 2016 annual report, which stated that withdrawals for “education” was at RM1.4bil last year, up 152% from RM578mil previously.

EPF chief executive officer Datuk Shahril Ridza Ridzuan said much of the increase was due to the settlement of education debts, adding that he was watching this trend closely.

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Start early to save up for tertiary studies

Sunday, November 27th, 2016
SAVING for one’s higher education must always be planned ahead, and not left until the eleventh hour. It is for this purpose that the National Higher Education Fund Corporation (PTPTN) recently launched an enhanced savings scheme called SSPN-i Plus.

SSPN-i Plus serves mainly as an education fund that also provides depositors with medical benefits and other forms of protection.

With the cost of education steadily rising, parents and students must be prepared to meet new demands and developments.

The corporation had earlier stated that parents must create savings accounts for their children at an early age instead of waiting until they were about to enter college.

Saving early helps parents plan for their children’s education and also acts an emergency fund in the event of unexpected situations.

Every individual should allocate some money for their savings and takaful, even if it is just a monthly contribution.

The aim of the scheme is to eliminate the common practice of saving at the last minute.

Introduced in May, SSPN-i Plus was designed as an improvised version of the SSPN-i account as it provides affordable and comprehensive takaful coverage to depositors from as low as RM30 per month.

There are medical benefits to be gained from the SSPN-i Plus savings plan.

Depositors are also eligible to enjoy a tax relief of up to RM12,000 per annum.

PTPTN also encourages the public to seize this opportunity by opening an account or by adding more deposits in either their SSPN-i or SSPN-i Plus accounts before Dec 31 to enjoy the tax relief this year.


Direct debit loan repayments

Sunday, November 13th, 2016

NATIONAL Higher Education Fund Corporation (PTPTN) borrowers who make use of directly debiting their monthly repayments from their bank accounts will be able to enjoy a 10% discount on their outstanding debt.

The discount was announced by Prime Minister Datuk Seri Najib Tun Razak in the Budget 2017 speech and will be valid until December 2017.

The Prime Minister also said that a 15% discount on the outstanding debt has been offered for full settlement; 10% for payment of at least 50% of the outstanding debt in a single payment; and 10% for repayment through salary deduction in accordance to the repayment schedule.

PTPTN chief executive Wan Ahmad Wan Yusoff said that thanks to a strategic partnership with Bank Islam, it is now much easier for borrowers to repay their loan with the direct debit facility.

They do not even need to be at the counter or perform Internet banking, he said. The strategic partnership will allow borrowers to finance their loans using a direct debit facility through 22 banks nationwide.

He added that those who are interested need to fill in and submit the original form that has been available at PTPTN counters nationwide since Nov 1.

“It should take about 21 working days for direct debit to begin.”

He also said that individuals do not need to have a Bank Islam account to sign up for direct debit.

“So long as they have a savings or current account with a participating bank, they can use the facility.

“Those with arrears will need to settle their outstanding amount or negotiate a new repayment schedule with PTPTN before they can use the discount,” said Wan Ahmad.

Under this method, he said, everyone can be assured that payments will be done on time and no action will be taken for late payment.

Action which includes having a bad Central Credit Reference Information System (CCRIS) record or being blacklisted by the Immigration Department, he added. He said that since Sept 30, PTPTN has disbursed RM48bil in study loans to almost three million borrowers.

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PTPTN borrowers now blacklisted

Saturday, September 24th, 2016
PETALING JAYA: About 1.3 million PTPTN borrowers listed under the Central Credit Reference Information System (CCRIS) have a black mark on their credit rating because they failed to service their study loans on time, if at all.

National Higher Education Fund Corporation (PTPTN) deputy chief executive officer (policy and operations) Mastura Mohd Khalid said that once blacklisted in CCRIS, one’s credit rating could take a nosedive as one could be deemed a “bad paymaster”.

This can lead to financial institutions denying the person loans or other credit facilities.

She added that all PTPTN borrower would be listed in CCRIS once it was time for them to start paying back, which was six months after graduation.

“Once someone is supposed to start repaying, we will list their names in CCRIS,” she told The Star yesterday.

Since it was formed in 1997 until July this year – a period of almost 20 years – there are 2.49 million PTPTN borrowers.

However, having one’s name on CCRIS is a neutral thing in itself, as anyone who has a credit card, mortgage, vehicle loan, or any form of borrowing from licensed financial institutions will be listed on this database administered by Bank Negara Malaysia’s Credit Bureau.

“As such, having one’s name on CCRIS does not amount to a ‘punishment’, and those who regularly repay PTPTN need not worry if they are listed in CCRIS as their record would be clean,” said Mastura.

“CCRIS is a database used by financial institutions to evaluate those who apply for loans. If they are good paymasters, then their loan applications will be approved,” she said.

Mastura revealed that since PTPTN started to use CCRIS in 2015, more defaulters have come forward to negotiate for a more lenient repayment mode.


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PTPTN Hope To Appoint 4,000 Agents To Promote SSPN-i-Plus

Wednesday, August 24th, 2016

LENGGONG, Aug 22 (Bernama) — The National Higher Education Fund Corporation (PTPTN) hope to appoint 4,000 online agents by year end to help promote the National Education Scheme (SSPN-i) Plus saving scheme.

SSPN-i Plus, is the best saving plan, combining education saving and a cheap and comprehensive takaful protection package introduced by PTPTN last year.

PTPTN chairman Datuk Shamsul Anuar Nasarah said PTPTN targeted RM2 billion to be deposited into its new product SSPN-i Plus.

Agents appointed by PTPTN would be paid commission if they managed to attract people to open savings accounts.

“SSPN-i Plus offers saving plans through salary deduction for as low as RM30 a month while SSPN-i is a fixed deposit saving for the future,” he told reporters at Dewan Merdeka, here Monday.

Earlier, he handed 238 students in Gerik, Lenggong, Kuala Kangsar and Padang Rengas RM357,000 under the PTPTN scheme.

Shamsul Anuar said since the agents online programme was introduced in May, 2,000 agents had joined the scheme.

He said 1.3 million borrowers who failed to repay their PTPTN loans have been listed in the Central Credit Reference Information System (CCRIS).


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