THE National Higher Education Fund Corporation (PTPTN) loan repayment discounts are for all borrowers, including those subjected to enforcement action.
On Oct 13, Prime Minister Datuk Seri Anwar Ibrahim announced that PTPTN borrowers would be given loan repayment discounts until March 31 next year.
The three discount categories are: 10% discount on the remaining debt for full loan settlement; 10% discount on payment of at least 50% of the debt balance in one payment; and 15% discount on payment by salary deductions or scheduled direct debits.
Borrowers who want to make a full loan settlement or repayment of at least 50% of the debt balance in one payment must first apply for loan balance confirmation either through the PTPTN portal or myPTPTN app, or by contacting the PTPTN marketing executive (www.ptptn.gov.my/hubungi-ptptn).
The 15% discount is automatic for borrowers making payments through salary deduction channels or direct debits subject to the payments being received by PTPTN within the discount period.
Borrowers who want to make salary deductions or direct debits should apply through the PTPTN portal or myPTPTN app. Borrowers can choose one or both channels to enjoy this incentive.
Borrowers can also check the discount given in the loan statement beginning the seventh day of the following month through the PTPTN portal or myPTPTN app.
PTPTN chief executive Ahmad Dasuki Abdul Majid said the loan repayment discounts would benefit 1.7 million borrowers. “This shows that the government always prioritises the welfare of borrowers and the sustainability of PTPTN funds for future generations.
“Hopefully, PTPTN borrowers will take the opportunity to make repayments and enjoy the discounts announced in Budget 2024,” he said in a press release.
For details, call 03-2193 3000 (Mon to Fri, 9am to 5pm); or join the online live chat (www.ptptn.gov.my). To file a complaint, log on to eaduan.ptptn.gov.my.
