TEMERLOH: A total of 16,051 students who had borrowed from the National Higher Education Fund Corporation (PTPTN), need not repay their study loans for having passed with a First Class Bachelors Degree during the period from Oct 1 last year to Jan 31.
PTPTN chairman Datuk Ismail Mohamed Said said the students were exempted from repaying their loans after the PTPTN converted the status of their loan to a scholarship.
"Up to Jan 31 this year, the government through the PTPTN had converted (study) loans amounting to RM450.47mil to scholarships in appreciation of the students' diligence in obtaining the first class degree.
"However, those who had obtained the first class honours bachelors degree need to apply for conversion of the status of their loans to scholarships at any of the PTPTN branches," he told reporters here.
He said the PTPTN did not specify the deadline for the students concerned to submit their applications for the conversion.
In another development, Ismail said 17,317 borrowers had repaid their loans with a discount of 20 per cent between Oct 1 last year and Jan 1 this year involving a discount of RM62.11mil.
"In addition, 953 borrowers who had been blacklisted had settled their loans amounting to RM5.1mil," he said.
Ismail, who is Kuala Krau MP, said the PTPTN allocated RM4.24bil for disbursement to students this year.
As of Jan 31, the PTPTN had approved loans to 2.15 million students involving an allocation of RM48.27bil. Bernama