KUALA LUMPUR: Those who had borrowed from the National Higher Education Fund Corporation (PTPTN) to continue their education will have their loan moratorium extended to December, Higher Education Minister Datuk Dr Noraini Ahmad (pix) told the Dewan Rakyat yesterday.
She said the government made the decision following the announcement on the three-month extension of the bank loan moratorium.
Speaking during her winding-up speech on the debate on the royal address, Noraini said previously the government had decided that the PTPTN loan moratorium would end next month.
“An estimated 1.5 million borrowers had benefited from the first moratorium involving RM760 million.
“ The extension of the PTPTN loan moratorium will involve another RM375 million bringing the total to RM1.125 billion,“ she said.
Norainin said the government is always looking at how to help PTPTN borrowers.
She said to relieve their burden, those who are unable to repay their loans can always come forward and arrange to reschedule their payments.
She added the government wants to help PTPTN borrowers but it also has a duty to protect the organisation.
Responding to a question by Syed Saddiq Syed Abdul Rahman (Independent-Muar), the minister said the government would not proceed with the repayment scheme mooted by the previous administration.
Noraini said the previous administration had proposed to impose the repayment mechanism that enabled borrowers to start servicing the loans only when their monthly salary reached RM4,000.
She said to help borrowers, PTPTN had introduced several initiatives such as holding a virtual mini job hunt, a 24- month loan repayment postponement and restructuring of loan repayments until 60 years of age.