Malaysiakini Letter

PTPTN debts: Youths need to learn financial planning

Muzaffar Syah Mallow
Published:  |  Modified:

LETTER | The issue concerning educational loans in Malaysia should not have been politicised as it does not serve any good, especially for our young people.

Too many sweet promises should not be made by any politician, in this regard, if they truly care for the future of our young people.

In addition, too many sweet promises also send the wrong signal to young borrowers over the issue of personal finance management and long-term financial planning.

It is very sad to see, especially whenever election period is approaching, some politicians begin throwing in such promises.

Although politicians are welcome to touch on many rising issues in the country, they need to be more cautious when making promises on personal finance matters.

The promises that have been made should also not been misinterpreted by young people as a way for them to be financially relaxed and take their loan repayments for granted.

Young people need to be educated from an early age to be more financially disciplined, spend wisely and plan their own finances properly for the sake of their future.

Borrowers should instead be advised to pay back every sen they owe and repayment delays must be strongly discouraged.

It is perfectly fine for anyone - politician or not - to assist the students in easing their debt repayment process.

At the same time, politicians have a moral duty and obligation to teach the young people to value the opportunity they have received to further their education and teach them the importance of being disciplined and repaying the loan on time.

Only when this discipline is planted in their minds at an early age will they be financially responsible adults throughout their life.


The writer is a senior law lecturer.

The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini.

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