Student loans are one of the most worrying things that we, the people in this generation are facing. However, it seems that there will be some good news for some PTPTN borrowers.
On Wednesday (27 July), Prime Minister Datuk Seri Ismail Sabri Yaakob announced that the government will be reinstating the PTPTN loan waiver for students who graduate with first-class honours.
Speaking at the launch of PTPTN’s Silver Jubilee celebration, he said that all students who graduated from 2019 onwards would be eligible for the exemption.
“This is an incentive for the students to study hard and obtain the best results,” he said.
During the announcement of Budget 2019, this exemption applied to only borrowers from the B40 and M40 income groups who obtain a first-class bachelor’s degree.
Meanwhile, Ismail emphasised that this would again be given to all top students, regardless of their socioeconomic status.
“The government will be providing loan repayment exemption for PTPTN borrowers who graduate with a first-class bachelor’s degree, regardless of socio-economic status, race and religion,” he said.
Ismail Sabri said that this would ensure that no members of the ‘Keluarga Malaysia’ would be left behind under the country’s development agenda.
Ismail said that PTPTN will discuss with the Finance Ministry the amount they would need to be allocated for this.
“To date, PTPTN has assisted 3.67 million people in the country and provided RM66.87 billion worth of loans. I believe many people who benefited from PTPTN’s assistance went on to achieve success through employment and standard of living, subsequently becoming ‘assets’ or human capital for the nation,” he said.
In February, the government announced that almost 80,000 students were eligible for loan repayment exemptions on amounts totalling RM2.06 billion from PTPTN.
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