Housewife glad she settled PTPTN loan with EPF savings

Relieved: Kamelia with her daughter Lily Suraya Huzaifah Azman.

PETALING JAYA: Since the monthly payments for her National Higher Education Fund Corp (PTPTN) loan did not seem to lessen her debt, Kamelia Shamsuddin made a drastic decision to withdraw her Employees Provident Fund savings to settle it.

The 30-year-old had to keep up with other payments and loans.

“I had car loans, rent, my three-year-old child. So, PTPTN was way down the priority list.”

It did not help that the high interest rate overtook her monthly payments.

“I paid every month but when I scrutinised the statements, it barely made a dent! It made me really angry,” said Kamelia.

The communications officer thrice applied for the Ujrah payment scheme but did not receive a reply.

Ujrah is a scheme in which a borrower can enjoy a service charge of 1% as compared to 3% previously.

“I got tired of it so I stopped paying for a while. I concentrated on other bills,” said the mother of one.

However, when she found out that she could settle her loan by withdrawing her EPF savings, Kamelia did not think twice.

By doing so, she was also eligible for a 20% discount, resulting in savings of RM4,400.

Kamelia made the payment of RM17,600 to settle her study loan in December last year.

“I felt so relieved afterwards. Going into debt right after university was the worst feeling ever. But it was a loan, not an entitlement. It’s better to just get it over and done with,” she said.