KUALA LUMPUR, 8 Dec 2018:
Education Minister Dr Maszlee Malik yesterday announced the new repayment scheme for National Higher Education Fund Corporation (PTPTN) borrowers has been postponed.
In his posting on Facebook, he said: “The mechanism for the new PTPTN repayment scheme will be postponed, taking into consideration the need to hold discussions with various stakeholders to hear their views and recommendations”.
On Wednesday, PTPTN announced the Scheduled Salary Deductions (PGB) would begin in January for borrowers earning from RM2,000 a month.
Under the PGB, borrowers earning between RM2,000-RM2,499.99 must pay 2% (between RM40 and RM49.99) and those earning RM2,500 to RM2,999.99 pay 3% (RM75-RM89.99).
Borrowers earning RM3,000-RM3,999.99 have to pay 5% (RM150-RM199.99); RM4,000-RM5,999.99 8% (RM320-RM479.99); RM6,000-RM7,999.99 pay 10% (RM600-RM799.99) and those earning RM8,000 and more have to pay 15% (RM1,200 and above).
The PTPTN announcement earlier had met with reactions from many parties, including politicians, who wanted the scheme to be reconsidered so as not to burden borrowers.
As the PTPTN issue can cause Pakatan Harapan to be dragged out of governing the country, Youth and Sports Minister Syed Saddiq Syed Abdul Rahman said that was why the issue must be properly discussed by all parties as it affected the cost of living which is often a major concern of the younger generation now.
“If I cannot be the voice of the youth on this, it means I have failed. That is why, when we talk about the PTPTN, I have to defend (the interests of the younger generation) and bring it to the Cabinet to find a comprehensive solution.
“That is why, we (Youth and Sports Ministry) as the platform that is closest to the youths, have to be involved and be a prime mover in helping this group in issues relating to the cost of living.”
Syed Saddiq said PTPTN must ensure the new repayment scheme for its borrowers is fair.
At the same time, he said, borrowers who were currently paying for their loans according to the schedule set by PTPTN must also be taken into consideration as they had signed the repayment contract before the new schedule was released.
“We cannot treat everyone the same. If before this, the borrowers paid RM100 to RM200 each month but when it suddenly goes up from RM600 to RM700, which is too much a burden as they have other responsibilities even though they earn RM4,000 and above.”
Syed Saddiq also said the Youth and Sports Ministry together with the Education Ministry and PTPTN will meet with as many youths as possible to find the best formula to resolve the issue.
– Bernama