Maszlee said the deduction of two per cent or RM40 for borrowers whose salaries were at RM2,000 was decided by the Cabinet at a meeting on Nov 23. — Picture by Azinuddin Ghazali
KUALA LUMPUR, Nov 28 — Salary deduction on borrowers of National Higher Education Fund Corporation (PTPTN) whose salaries reached RM2,000 a month, will be effective from January next year, said Education Minister Maszlee Malik.He said also implemented in January is the exemption to repay PTPTN loan for borrowers from the middle 40 per cent income group (M40) for those who obtained first class honours degrees.He said the deduction of two per cent or RM40 for borrowers whose salaries were at RM2,000 was decided by the Cabinet at a meeting on Nov 23.“What we can do at this time is to place RM2,000 as a threshold for the start of repayment and then increase based on the borrower’s income.“The Cabinet also agreed to exempt loan repayments for those who received a first class honours degree from the M40 group. The original proposal was only for those from the B40 (bottom 40 percent ) income group,” he told reporters at the Parliament lobby today.On the Pakatan Harapan’s pledge declared in its manifesto that it would make it compulsory for borrowers earning RM4,000 to repay their loan, he said the government would try its best to fulfill it when the country’s financial situation has stabilised. — Bernama [...]
Teo Nie Ching
KUALA LUMPUR: The government has agreed on scheduled salary deductions for National Higher Education Fund Corporation (PTPTN) loanees earning a monthly income of RM2,000 and above instead of from RM1,000 set earlier, based on Budget 2019.
Deputy Education Minister, Teo Nie Ching said the government had also decided that PTPTN loan repayment exemption be extended to those from the middle-income (M40p) group who obtained a first-class degree, instead of just for those from low-income (B40) households previously.
“The Cabinet meeting on Nov 23, 2018, agreed on salary deductions for PTPTN loanees at two per cent or RM40 when their salary reaches RM2,000 and the deductions to be on a progressive scale of up to 15 per cent, depending on the loanees’ monthly salary, ” she said.
On the extension of repayment exemption to loanees from the M40 group, Teo said this was not only meant for students from public higher education institutions, but also from private tertiary institutions.
She was replying to a supplementary question from Wong Kah Woh (PH-Ipoh Timor) on PTPTN loan repayment exemption for loanees who obtained excellent academic results.
At the tabling of Budget 2019 early this month, Finance Minister Lim Guan Eng announced the implementation of scheduled salary deductions of two to 15 per cent for loanees earning RM1,000 and above monthly, besides repayment exemption for loanees from the B40 group if they obtained a first-class degree.
Teo said that up to October this year, 53,113 loanees – 37,355 of them from public tertiary institutions and 15,758 from private institutions – obtained repayment exemption for getting first-class honours degree.
She said the PTPTN loan repayment collection from June to September this year amounted to RM817.75 million.
To Wong’s original question on PTPTN loan repayment exemption for part-time students who achieved academic excellence, Teo said there were no plans to give such exemption to this group.
She also said that loan repayment for those earning a monthly income of above RM4,000 would be reconsidered if the country’s financial situation became strong. – Bernama [...]
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