Monday, December 6, 2021

Over 500,000 PTPTN borrowers yet to repay their loans

They are among 2,424,009 borrowers who had completed their studies and were supposed to repay their loans amounting to almost RM24.6 billion.

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A total of 539,284 National Higher Education Fund Corporation (PTPTN) borrowers had not paid back their loans as of Sept 30, according to the higher education ministry.

It said in a reply posted on the Parliament website today that they were among 2,424,009 borrowers who had completed their studies and were supposed to repay their loans amounting to almost RM24.6 billion.

“Of the total, 1,884,725 borrowers have paid back their loans, with 751,216 having settled their loans.

“A total of 427,861 borrowers have been paying consistently while 705,648 others do make repayments but inconsistently,” the ministry said.

The ministry was replying to a question by Salim Sharif (BN-Jempol), who wanted to know the number of borrowers who still owe PTPTN and the total amount involved.

According to the ministry, as of Sept 30, PTPTN had approved loans to more than 3.5 million borrowers, with the total disbursement amounting to over RM64.8 billion.

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