PTPTN Warns Borrowers To Pay Up Or Face Legal Action
According to the National Higher Education Fund Corporation (PTPTN), relevant actions will be taken to encourage borrowers to settle their loans in accordance with the loan agreement signed by them.
Those who fail to settle their loans will have a bad record with the Central Credit Reference Information System (CCRIS), similar to the standard practice by financial institutions in Malaysia.
PTPTN chairman Datuk Shamsul Anuar Nasarah said that these measures are taken to ensure there are enough funds for PTPTN to continue providing loans and are not there to pressure the borrowers.
He assured that borrowers who are consistent with their loan repayments need not worry.
PTPTN’s deputy chief executive officer (policy and operations) Mastura Mohd Khalid said once listed in CCRIS, the borrowers could be regarded as a “bad paymaster” and this can lead to financial institutions denying them loans or other credit facilities in the near future.
PTPTN understands that some borrowers are unable to fulfil their monthly repayment commitment. Therefore, PTPTN urges them to come forward and discuss how their loans can be restructured. Borrowers can do so by approaching PTPTN counters nationwide or contact their care-line to negotiate new terms.
Recently, The Star reported that approximately 1.3 million PTPTN borrowers were listed under CCRIS because they had failed to service their study loans promptly.
Meanwhile, in regards to this matter, Higher Education Minister Datuk Seri Idris Jusoh urged any borrowers who feel “victimised” to come forward for help. He explained that he has instructed PTPTN to study each case individually.