As an Employees Provident Fund contributor, I find it very distressing that the National Higher Education Fund Corporation (PTPTN) owes the EPF RM2 billion . This is another one of the many instances whereby the EPF has been dishing handouts to certain organisations contrary to the interest of its members.

And what makes it worse is that the borrowers (students who borrowed money for their education) owe PTPTN RM7 billion and to date, the majority of the borrowers have not even bothered to pay back the loans over the years.

The EPF is not a very transparent body. I don't know whether they have a constitution or an M&A or Article of Association like most companies. Lending money to PTPTN cannot be part of its objectives.

The only justification I can think of is that this was done in the national interest of the country, but then again how can it be? Our government is rich, unlike some other governments which are bankrupt. Surely if PTPTN needs more money, the government should be the one to contribute. After all, this was where the money came from in the first place.

There is no commercial justification for EPF to lend this money to PTPTN as it is evident that there is no way the latter can afford to pay interest since its sole purpose is to give loans to students for their studies. Now that the damage is done, my main concern is whether this amount is now collectible.

To be fair to the EPF, I would think that the recent dividend it declared of 4.75 percent is respectable when you compare it with the fixed deposit rate offered by commercial banks. Furthermore, the amount of money the contributors have with the EPF is guaranteed. And I pray that it will remain this way.

But is this reflective of the true returns the EPF made from its investments or is this amount given to just placate the contributors for the short term? If the latter, it will not be sustainable in the long run and the EPF will not be able to meet its commitments to contributors in the future.

As for PTPTN, the government should make a concerted effort to collect the money owed to it. This is because the students are supposed to be the future leaders of this country and it is imperative that the government instil the correct values in them to these students. And what is more basic than honesty?

If the government is so kind as to help you financially in your tertiary education, surely you should be very grateful and would not only want to pay back the loan but to also serve the country in whichever way you can?

I honestly cannot comprehend why it is it so difficult to recover these loans. Most of these students are successful professionals, businessmen and entrepreneurs today. How can they not have the money to pay the govenment back?

As for those who have just entered the employment, surely something can be worked out. For instance, if their salaries exceed a certain minimal amount (sufficient to meet their basic standards of living), the excess should be used to pay off their PTPTN loan.

When there is a will there is a way...