PETALING JAYA: The government has announced a targeted repayment moratorium of three months for those with National Higher Education Fund Corporation (PTPTN) loans.
This was among the initiatives announced by Prime Minister Tan Sri Muhyiddin Yassin on Monday (June 28), who said there were several initiatives to defer education loan repayments.
“This whole initiative is worth RM400mil and will benefit 1.6 million people,” he said when unveiling the Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (Pemulih) assistance programme.
Besides PTPTN loans, the initiatives included federal education loans under the Public Service Department (PSD), loans under the Majlis Amanah Rakyat (Mara), and loans under the Skills Development Fund Corporation (PTPK).
Muhyiddin said that PSD federal education loan borrowers would be able to defer their loan repayment and payment of compensation claims for federal scholarships for up to six months.
He added that those with Mara loans, can defer their loan repayments for three months, or reschedule their monthly instalments for as low as RM100 for 12 months.
Those with PTPK loans can defer them for three months, said Muhyiddin.