SUTHAN Kusala Kumaran, 25, welcomed the Prime Minister’s announcement to extend the grace period for borrowers of PTPTN loans from six months to a year.
“While I was lucky enough to land a job before graduating, many of my friends took longer than six months to find jobs.
“This extension is definitely welcome as it gives graduates more time to secure a job,” he said.
Suthan, who is a financial analyst, welcomed the 20% discount given to those who settle their loans in full.
“However, how many borrowers can in fact repay their loans in a lump sum?
“Currently, borrowers are given a 10% discount if they repay via salary cuts or direct debit. Monthly deductions should be explored as not everyone can afford to repay their loans in one full amount in spite of the discount in place,” he added.
Universiti Malaya medical graduate Tun Yun Tien, 24, said the extension in the grace period lightens the burden on fresh graduates from finding a job immediately after completing their studies.
“It takes time to secure a job as well as postings for medical graduates. I am also happy with the discounts and incentives, considering the pay we receive as new employees isn’t much,” he said.
PTPTN chairman Datuk Dr Shamsul Anuar Nasarah thanked the Government for the additional measures.
“I am pleased as it is in line with PTPTN’s goals in ensuring the consistent repayment of loans.
He said depositors also enjoy substantial benefits with a free grant of RM500 and a tax relief of up to RM6,000 which has been extended to 2020.
He added that the extension in the grace period also gives borrowers an opportunity to seek employment or start a business without facing inconvenience or actions against them if they do not repay.
“Borrowers only start paying back in the 13th month after graduation. We hope they will take this opportunity to begin their career (in that time) and eventually repay the loans when the time comes,” he said.
RM50mil each for Chinese schools, Tamil schools, Mubaligh (missionary) schools, full boarding schools, Maktab Sains Rendah Mara and government-aided religious schools
RM400mil for research grants and development for public universities
RM2.2bil for scholarship grants under the Public Service Department (JPA), Higher Education Ministry and Health Ministry
RM90mil for MyBrain Progamme for 10,600 people
University and Form Six students to continue receiving book vouchers worth RM250
Discounts for repayment of PTPTN loans until Dec 31, 2018
RM4.9bil for TVET Malaysia Masterplan
Did you find this article insightful?
100% readers found this article insightful