PTPTN financing for IPTA students reduced by 5%, 15% for IPTS

KUALA LUMPUR: The National Higher Education Fund Corporation's (PTPTN) new total financing for students of public institutions of higher learning (IPTA) has been reduced by 5%, and 15% for students in private institutions of higher learning (IPTS), beginning Nov 1 this year.
Its marketing and strategic communication chief officer, Mastura Mohd Khalid, said the total financing for IPTS students taking bachelor's degree in medicine, however, was maintained due to its high fees.
She said the rationalisation was made as a result of funding constraints by PTPTN to accommodate an increase of 50,000 new borrowers to pursue studies at the IPTS and IPTA beginning this month.
One of the reasons for this constraint is the reluctance of PTPTN borrowers to repay their loans after completing their studies, she said when contacted by Bernama today.
Mastura said implementation of the rationalisation in the PTPTN financing had been informed to IPTA and IPTS nationwide in a circular, PTPTN Bilangan 1 tahun 2014, last Oct 29.
Mastura also said that PTPTN used the data for recipients of the 1Malaysia People's Aid (BR1M) to determine the total financing for new borrowers.
"If the data of the borrowers or parents is listed as BR1M recipients, they will receive maximum PTPTN financing.
"For the non-BR1M recipients, 75% financing will be given to families with income of not more than RM8,000 and 50% for students from family with household income of more than RM8,000," she added.
She said in an effort to ensure sustainable of PTPTN, various programmes had been held, and would continue to be held, including awareness campaign and providing repayment incentives to borrowers. – Bernama