I HAVE just graduated from a local university and will start work with a local bank early next month with a salary of RM2,000. Before I completed my last semester final exam, I received a letter from the Higher Education Fund (PTPTN) about repaying the RM64,000 I had borrowed to finance my four-year course. I have to pay RM473.40 for 15 years at an interest rate of 4%.
As a fresh graduate, I have to budget my monthly expenses carefully. Here is the breakdown of the minimum expenditure I expect to incur: Accommodation, including water and electricity, RM300; food and groceries, RM550; PTPTN loan repayment, RM473.40; car loan instalment, RM450; and petrol, RM300.
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