Budget 2019: Up to 15% salary cut for PTPTN repayment

KUALA LUMPUR: Up to 15% of the salaries earned by the National Higher Education Fund Corporation (PTPTN) borrowers will be cut by the government to repay their loans.
Lim Guan Eng said the repayment would be imposed on all borrowers earning more than RM1,000 a month, compared with the Pakatan Harapan (PH) government's promise of deferring payment of those earning less than RM4,000.
The Finance Minister said this was to ensure that PTPTN remained sustainable for future generations.
"The government will introduce a repayment system through scheduled salary cut between 2% and 15% of the loanee's monthly income.
"This is depending on the level of their incomes, and is only subjected to those earning more than RM1,000 a month," he said when tabling the 2019 Budget in the Dewan Rakyat, here, today.
PH had prior to the 14 General Election promised that PTPTN borrowers were not required to repay their loans until they earn RM4,000, as part of its election manifesto.