YOURSAY | ‘We must inculcate financial responsibility right at the start of graduates’ careers.’

I am ashamed of unpaid PTPTN loans, says Dr M

Sunshine: The prime minister is pointedly correct in indicating that the PTPTN (National Higher Education Fund) loan defaults are an unnecessary stain on the nation’s reputation.

The RM36 billion problem is a consequence of an attitude and mindset rather than dire circumstances that prevent repayment.

And it is very troubling to construe that this is a demonstration of ungratefulness from the very needy individuals who had been singled out for assistance for furthering their education.

It cannot be interpreted as a show of remonstrance against poor governance by national leaders and for the manner in which they have themselves, for over a decade, not managed the nation’s resources and public finances efficiently.

Anak Malaysia: To me, this group of borrowers is irresponsible and very ungrateful. Not repaying their loan has hindered new students from applying for such loans due to funding constraints.

Also, the enforcement authorities and administrators are not doing their job by chasing those defaulters.

For those who genuinely unemployed or earning below RM2,000, they are to appeal to the relevant body seeking consideration for delayed settlement.

Do something, enforcers. Pakatan Harapan is our new government, and the rakyat has high expectations from our new government.

Jan Drew: Tie it to the tax system, like it is done in Australia.

The Higher Education Contribution Scheme (HECS) loan repayment is automatically included in annual tax returns as a percentage of earnings. The loan also attracts low interest annually based on the Consumer Price Index (CPI), so it is in the interest of the taxpayer to reduce it annually.

It isn't rocket science. Perhaps tie it to Employees Provident Fund (EPF). This issue is the same as everything else that doesn't work here - there is no enforcement of any rule, law or regulation.

No one cares enough. Name and shame defaulters! Ban them from accessing EPF or something similar. Unless there is a consequence, they will just ignore it.

Ruben: Well, Mahathir, I am equally ashamed as I am one of the few who paid my loans back.

I made sure via a standing order that a certain amount was deducted every month, and guess what, I fully paid up my loan in four years.

As for my children, I did not want them to be burdened with debts, so I saved up enough for their studies overseas.

So, Mahathir, it is unfair to those that pay. As we are being soft on the defaulters, there will be more and more who will not pay as they know the government will not come after them.

Please go after the defaulters.

Your gov't vowed to defer PTPTN payments - KJ to 'red-faced' Dr M

Salam: Give credit where credit is due. On this point, former Umno Youth chief Khairy Jamaluddin makes more sense.

The policy to defer the repayment of student loans by the Harapan government is unnecessary if you make the instalment payments a percentage of salaries - the lower the salary, the lower the instalment, and higher-income earners would pay more each month.

Even if they start with RM50 or RM100 per month, at least money is being paid back. And this inculcates financial responsibility right at the start of their careers.

Gerard Lourdesamy: Khairy should explain why BN allowed the loan default sum to balloon to RM36 billion with no action to recover the funds taken other than to impose the travel blacklist.

I suggest that the defaulters be traced through the Employees’ Provident Fund (EPF), Social Security Organisation (Socso) and the Inland Revenue Board, and the loan repayment sum be deducted by their employers from their source of income for those earning RM4,000 per month and above.

Prudent: Khairy, regardless of what the government does, the PTPTN recipients should have repaid or started repaying their loans to fulfil the conditions they agreed to when they were given the loans.

Those who refused to do so should be justifiably ashamed because they did not keep their promises.

The Wakandan: This is very disingenuous of Khairy. It is deliberate of him to have a dig at Prime Minister Dr Mahathir Mohamad. Shame on you for hitting below the belt.

You are an Oxford University graduate. You are not Umno Sungai Besar division chief Jamal Md Yunos or supreme council member Lokman Adam. You know better than to be intellectually dishonest.

Thievery is a crime. Of course, we should be ashamed of it. If the government is being lenient about repayment, it does not mean we will take advantage of what we have owed and reneged on paying.

No leaders would advise his people to have that unashamed lackadaisical attitude because that would be an obstacle to success and thus a liability to our people and country.

We want the people to be disciplined, dignified and responsible. And that starts with accountability and to pay back what you owe, rather than taking them for granted.

We must try to get rid of the crutch mentality. It is time for that and we have to start somewhere.

SV: Are we forgetting the very essence of this general election victory, which is "rule of law"?

If you are in breach of the loan contract, why wait? Unless now there is a new policy direction to state that the loan repayment only applies when your salary reaches RM4,000?

If not, get it implemented. You are the government of the day. Are we now afraid to do the right thing?

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