KUALA LUMPUR – The Ministry of Education confirmed that the salary deductions for the repayment of the National Higher Education Fund Corporation (PTPTN) loan for borrowers earning more than RM2,000 per month will commence on 1 January 2019.
Its Minister Dr. Maszlee Malik said, this is among the best that the government can do by offering salary deduction as low as RM40 for those earning RM2,000.
He said, the government is working hard on fulfilling the manifesto promises and at the same time, this is the best and the lowest rate they have fixed.
“We are working towards it. The amount will increase based on their income. If the government’s financial status has recover, we will increase it back to RM4,000 and above.
“At this moment, we are would require those with monthly income of RM2,000 to have RM40 deducted from their salaries to serve their loans. We also welcome them to pay more,” he told the journalists at the lobby of the Parliament.
Earlier, the government had fixed a scheduled deduction for PTPTN borrowers earning more than RM2,000 per month compared to the previous version of RM1,000 per month based on the 2019 Budget.
Deputy Minister of Education Teo Nie Ching said yesterday, the government had also decided to extend the PTPTN repayment exemption for borrowers who achieve first class from the middle income household (M40). Previously, it was only offered to borrowers from the B40 households.
Meanwhile, Maszlee, who is also the Member of Parliament of Simpang Renggam (PH) said, the PTPTN repayment waive for those with first class bachelor degree has been approved by the Cabinet.
“The Minister of Youth and Sports (Syed Saddiq Syed Abdul Rahman) and I fought for this issue and it has obtained the approval of the cabinet. This is among the best that we can do.
“However, this is not over. If our financial status recovers, we can do what we promised,” he emphasized. -MalaysiaGazette