PTPTN: Talk to us or be listed on CCRIS, chairman tells defaulters

KUALA LUMPUR: National Higher Education Fund Corporation (PTPTN) loan defaulters have until Dec 31 to consult them on repayment schedules, or have their credit record tarnished, said Datuk Shamsul Anuar Nasarah.

The PTPTN chairman said they would be listing loan defaulters in the Central Credit Reference Information System (CCRIS).

He said the first stage would involve 173,985 borrowers who had not started financing their loans, three years after graduating.

"It will be done in stages and the remaining loan defaulters will be added during the next stage," he added.

Shamsul Anuar emphasised that CCRIS was merely a system that collected borrowers' credit information and used to determine one's credit history.

"It is not a blacklisting system," he pointed out.

The PTPTN chairman said these steps were necessary to recover the funds disbursed and to ensure the sustainability of loans for future borrowers.

"We have taken many measures to increase the recovery of the loans, but they have not been effective," he told reporters at a press conference on PTPTN's new payment and repayment policies.

He said among the steps taken were opening 25 PTPTN branches nationwide, providing different repayment channels, providing discounts and rebates to those who pay a lump sum or pay consistently and carrying out awareness campaigns.

Due to the low number of people repaying their loans, Shamsul Anuar said PTPTN would eventually run short of funds, which would prevent them from providing future loans and repaying its own loans taken from financial institutions.

He said this was being done to instil discipline in borrowers, as it would be easier to obtain new loans with a good CCRIS report.

"Their failure in maintaining a good and consistent credit history will affect their creditworthiness," he continued.

Shamsul Anuar said that as of Sept 30, PTPTN had approved RM48.36bil in study loans to 2.1 million borrowers.

Prime Minister Datuk Seri Najib Tun Razak, when tabling Budget 2015 last month, said borrowers could expect a 20% discount if they repaid their loans in full by March 31, while borrowers who made continuous payments for 12 months till Dec 31, 2015 would be entitled to a 10% discount.

In a circular dated Oct 29 to public and private institutions of higher learning, PTPTN chief executive officer Agos Cholan said the 5% to 15% reduction in the amount for new student loans, implemented Nov 1, was due to PTPTN's current financial constraints.

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PTPTN , Student loans , CCRIS , Loan defaulters


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