The National Higher Education Fund Corporation (PTPTN) has returned RM2.72 million to 3,229 borrowers until March 31 following the adjustment of loan interest rate from 5 to 3-1 percent.

Chairperson Ismail Mohamed Said said PTPTN had over the same period disbursed RM43.85 billion loans to 1.96 million students in institutions of higher learning at home and abroad.

“However, 31,606 borrowers of the 1,052,693 borrowers involving RM6.84 billion loans were given repayment extension due to sickness and studying abroad,” he said at the ‘Mesra Minda’ programme at Penderas Orang Asli settlement near Temerloh yesterday.

PTPTN had received RM3.8 billion loan repayment while action was taken against 261,561 borrowers who did not respond, involving RM1.8 billion.

Since its inception over 15 years ago, PTPTN had disbursed RM43.85 billion loans. This year, RM5.05 billion was disbursed of which RM3.37 billion was to existing borrowers and RM1.68 billion to new borrowers.

PTPTN had approved RM182.3 million loans to 14,459 students this year.

PTPTN had until March approved loans amounting RM888.75 million to 36,701 students.

Ismail said of 600 private institutions of higher learning, 410, whose students were sponsored by PTPTN, might close down if the loan was removed.

He denied opposition claims that the government was unjust and oppressed  the people adding the facilities provided were to overcome their burden.

PTPTN was also willing to compromise and negotiate with students who had  problems repaying the loans, he added.

- Bernama