PTPN allocates RM5.8b for 2011 student loans

(Bernama) – TEMERLOH, Feb 3 — The National Higher Education Fund Corporation (PTPTN) has allocated RM5.8 billion for loans to students pursuing their studies locally and abroad this year.

Its chairman, Datuk Ismail Mohamed Said, said it was an increase of almost RM2 billion from the over RM4 billion disbursed to 210,000 students last year.

“The number will continue to rise annually as PTPTN is one of the main financer for students in the country, although there are other government and state government agencies also providing such loans,” he told reporters after attending a Chinese New Year open house hosted by Kuala Krau MCA here today.

Ismail said PTPTN had given out RM24 billion to 1.3 million students in the country since its establishment in 1997.

However, up to last year, only RM2.3 billion have been collected in loan repayment despite various reminders issued to borrowers, he said.

“We are willing to consider if they are having problems to repay loans, but they have to come and discuss it with us, not just keep quiet,” he said, adding that those who had been blacklisted for not repaying their loan, would be tracked down sooner or later with the cooperation of the police and immigration department. — Bernama