PTPTN receives RM90.42mil from Sarawak govt to settle 30 percent of its students' debts

KUCHING: The National Higher Education Fund Corporation (PTPTN) has received a payment of RM90.42mil from the Sarawak government to settle at least 30% of the debts owed by Sarawakian students.

PTPTN chairman, Datuk Norliza Abdul Rahim, said this sum was acquired following the signing of a Memorandum of Understanding (MoU) for the PTPTN Sarawak Student Loan Repayment Incentive between PTPTN and the Sarawak Foundation on March 5, 2021.

"Today, the Sarawak Foundation once again disbursed an incentive allocation for PTPTN loan repayment to Sarawakian students, amounting to RM12.43mil and it is estimated that 3,000 eligible borrowers will receive this incentive.

"This brings the total amount disbursed by the Sarawak state government to RM90.42mil, benefiting over 25,000 PTPTN borrowers among Sarawakian students," she said in a statement on Wednesday (Dec 27).

According to the statement, the PTPTN loan repayment incentive for Sarawakian students is a continuation of the state’s Budget 2020 initiative.

This follows a MOU signing between PTPTN and the Sarawak Foundation on March 5, 2021, outlining their collaboration for the PTPTN Sarawak Student Loan Repayment Incentive.

Through this collaboration, the state government will pay up to 30% of the current PTPTN loan balance for borrowers who have settled at least 30% of their loan debt.

"PTPTN hopes that the incentive for the repayment of PTPTN loans to Sarawakian students will continue, thereby helping to realise the dreams of future generations in higher education," added Norliza in the statement. - Bernama