PETALING JAYA: The Income-Contingent Loan Repayment scheme will be put on hold for now, says Education Minister Dr Maszlee Malik.
He posted on his Twitter page, "the ICLR PTPTN (National Higher Education Fund Corporation) repayment scheme will be suspended for the time being until we receive the collective inputs and feedback from all stakeholders."
The ICLR PTPTN repayment scheme will be suspended for the time being until we receive the collective inputs and feedback from all stakeholders.— Maszlee Malik (@maszlee) December 7, 2018
Several replied to his tweet, stating that it was a wise move. Some also questioned that the stakeholders should have been consulted first before any decisions were made.
On Wednesday (Dec 5), PTPTN chairman Wan Saiful Wan Jan announced the new scheme of monthly deductions for borrowers with salaries of RM2,000 and above, starting Jan 1.
The deductions will range from 2% to 15% of the borrower’s salary. A borrower whose monthly salary is RM2,000 will have to pay RM40 per month while those earning RM8,000 will need to fork out RM1,200.
The announcement received backlash from the public, with many saying it was 'unfair' and 'made no sense'.
Several Pakatan Harapan and Barisan Nasional leaders have put aside their differences and voiced out their concerns over the matter.
Wan Saiful also noted that he is ready to consider appeals from those who need special consideration in paying back their loans.