30% discount for repayment of Perak education loans

IPOH, 22 Aug 2017: 

The state government is offering a 30% discount to borrowers of the Perak Higher Education Loan scheme for them to make full settlement of  their remaining loan until  Dec 31 this year.

State Education, Science, Environment and Green Technology Committee chairman Datuk Dr Muhammad Amin Zakaria said the matter was decided at the Perak Higher Education Scholarship Trustees Board meeting last month.

“We are giving a rebate or discount of 30% to borrowers with outstanding loan of remaining loan of RM1,001 and above  to make full settlement of their loans,” he said in his speech at the presentation of cheques, totalling RM3.60 million, for 505 recipients  of the Perak Higher Education Loan scheme here yesterday.

He said the rebate was given to reduce the burden of borrowers.

As of 31 Dec 2016, he said 4,632 borrowers had yet to settle their outstanding loans – amounting to RM17.42 million, with most of them citing joblessness and  financial instability as among the reasons.

“We understand there may be some constraints to repay the loans, however, the borrowers should meet us, and from there, we can discuss on how to resolve it (the balance of the debt).”

He also warned the trustees board would not hesitate to take action, including blacklisting the names of the loan defaulters.

“This is done, not to punish them, but they (borrowers) have been reminded many times. They have also promised to repay the loan as stated in the loan contract.”

– Bernama

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