PETALING JAYA: National Higher Education Fund Corporation (PTPTN) chairman Wan Saiful Wan Jan said he is ready to consider appeals from those who need special consideration in paying back their loans.
Following the announcement of scheduled salary deductions to repay PTPTN loans from January 2019 onwards, the fund’s chairman said he was aware of the feedback and exasperation from certain quarters.
Wan Saiful also explained that while some quarters had said the deduction contradicted signed loan agreements, he said that borrowers had consented in the agreements to make repayments through whatever schemes set by PTPTN, including salary deductions.
“Section 29 of the PTPTN Act 1997 gives PTPTN the power to order employers to carry out salary deductions on borrowers, therefore the legal provision is there already,” said Wan Saiful.
Earlier yesterday, Human Resources Minister M. Kulasegaran said the PTPTN Act had to be amended first, to allow for an automatic deduction of employees’ salaries to repay their loans.
“I wish to stress that we are always concerned with the people’s needs. This new policy is to ensure PTPTN can continue helping future generations.
“The government has the choice whether to give priority to today’s borrowers or ensure the fund’s sustainability so that millions of children today can have funding to enter higher education institutes in time to come,” Wan Saiful stated.
He added that it was not an easy decision to make as it concerned two groups with different priorities, and was confident the government’s decision would ensure the fund’s sustainability for future students.
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