THE Higher Education Ministry is considering reinstating the National Higher Education Fund Corporation (PTPTN) loan repayment exemption for first-class bachelor’s degree graduates from private higher education institutions (IPTS) in the B40 and M40 groups.
At present, the exemption applies only to B40 and M40 students who graduate with first-class honours from public universities.
Deputy Higher Education Minister Datuk Mustapha Sakmud said the mechanism for extending the exemption to IPTS graduates requires further refinement.
“Previously, the model included IPTS students, but this time, it only covers students from public institutions (IPTA) in the B40 and M40 groups,” he said during question time in the Dewan Rakyat yesterday.
He was replying to a supplementary question from Tan Kar Hing (PH-Gopeng) on whether the government would review its decision to discontinue the exemption for first-class graduates from private institutions.
Mustapha acknowledged the point raised and said the proposed mechanism would need careful detailing.
“I believe it will be considered by the Finance Ministry and the Higher Education Ministry,” he said.
He also revealed that PTPTN borrowers from households receiving Sumbangan Tunai Rahmah (STR) aid recorded both the highest total repayments and the highest outstanding balances.
As of Oct 31, more than 900,000 borrowers from STR families had fully settled their loans, amounting to RM13.89bil.
This group was also the most consistent in repaying according to schedule, with 450,522 borrowers having paid RM4.17bil up to the end of October.
However, they also recorded the largest outstanding amount, with RM10.23bil owed by 967,796 borrowers.
Among borrowers from non-STR households earning below RM8,000 a month, 58,971 individuals had fully repaid RM703.45mil in loans, while RM657.79mil had been collected from 131,386 borrowers who paid on schedule.
The outstanding balance for this group stood at RM539.35mil involving 156,315 borrowers.
For borrowers from families earning above RM8,000, a total of 136,156 individuals had completed repayment, amounting to RM1.54bil.
Another 39,374 borrowers paid RM362.36mil according to schedule, while outstanding payments totalled RM257.56mil involving more than 64,000 people.
“PTPTN’s database does not include borrowers’ current monthly income, as records are based on the status at the time of application, which refers to the income of parents or guardians,” Mustapha added.
He was responding to Tan’s question on repayment rates by borrowers’ income categories, specifically those earning below RM2,000, below RM3,000, below RM4,000, above RM4,000 and the broader B40, M40 and T20 groups.
