PTPTN has received RM90.42 million from the Sarawak government with the intent of settling at least 30% of the debts of Sarawakian borrowers.
According to Bernama, PTPTN chairman, Datuk Norliza Rahim said in a statement that this is the latest in a series of payments made by the Sarawak Foundation to PTPTN for the PTPTN Sarawak Student Loan Repayment Initiative, which was first launched in 2021.
Norliza also stated that the latest payment from the Sarawak foundation totalled RM12.43 million, and will benefit around 3000 eligible borrowers from Sarawak.
She also said that the latest funds from Sarawak brings the total amount to RM90.42 million, which has already been used to help 25,000 borrowers from Sarawak clear their PTPTN debt.
The statement also mentioned that the PTPTN Sarawak Student Loan Repayment initiative is an initiative that was created as part of the Sarawak government’s Budget 2020.
From there, PTPTN and Sarawak Foundation signed a Memorandum of Understanding (MoU) which outlined their collaboration and commitment to help Sarawakian borrowers through the initiative.
According to PTPTN’s official FAQs page, the eligibility rules of the initiative is as follows;
i) Borrowers who are (Sarawakian) meaning that either one of their parents is a Sarawakian;
ii) Borrowers who have settled at least 30% of their outstanding loan balance; and
iii) Borrowers who have successfully completed their studies (excluding those who failed or discontinued their studies).
The initiative is also automatically applied to any eligible students, meaning no application is needed.
If you want to check your status and eligibility for the initiative, you can check it through this link right here.
