Loan repayments to the National Higher Education Fund Corporation (PTPTN) have dropped by 39% since the blacklist was removed. Collections totalled RM817.56 million from June to September compared to RM1,324.43 million from last year.
Deputy Education Minister Teo Nie Ching said that 429,945 PTPTN borrowers were released from the blacklist since May 24, and that the exercise has already been completed.
While people have been taken off the blacklist, the government will not be allowing them to go free. Teo says that measures are being put in place to take legal action against those who have not been repaying the loan. Additionally, Bank Negara’s Central Credit Reference Information System (CCRIS) will still also be continually updated to ensure the debt is repaid.
Essentially, while those who refuse to repay their PTPTN may no longer be on a blacklist, but their actions will ensure that they will have trouble in securing new loans.
Teo has also said that a new PTPTN loan policy has been completed. It will be tabled to the cabinet after being circulated to various government departments for comments