PTPTN borrowers with 1st class degree to be exempted from repaying loan
PTPTN borrowers who graduated with Bachelor's Degree First Class from 2019 onwards will be exempted from repaying their study loan, said Prime Minister Ismail Sabri Yaakob.
In his launching speech at the PTPTN Silver Jubilee celebration in Kuala Lumpur this afternoon, Ismail Sabri said the government decided to bring back the reward to encourage students to perform in their studies.
"Today, I want to announce that...
PTPTN borrowers who graduated with Bachelor's Degree First Class from 2019 onwards will be exempted from repaying their study loan, said Prime Minister Ismail Sabri Yaakob.
In his launching speech at the PTPTN Silver Jubilee celebration in Kuala Lumpur this afternoon, Ismail Sabri said the government decided to bring back the reward to encourage students to perform in their studies.
"Today, I want to announce that the government will bring back the privilege for any student who borrowed from PTPTN and graduated with First Class Bachelor's Degree to have their study loan converted to sponsorship where they are exempted from repaying.
"This goes to every student who meets the criteria regardless of their economic status and background who graduated from 2019 onwards.
"I hope PTPTN will discuss with the Finance Ministry the financial allocation for this purpose.
"This decision was made to encourage the children of Keluarga Malaysia to study hard and get the best qualification in their study," he said.
Currently, PTPTN only gives such rewards to students from M40 and B40 family backgrounds who get First Class Bachelor's Degrees with Honours.
The National Higher Education Fund, in short PTPTN, was established by the government in 1997.
According to Ismail Sabri, since its establishment, the fund has helped 3.67 million families with a total amount of loan disbursed of RM66.87 billion.
Over two million or 82 percent of its borrowers have repaid their loans so far with a total amount collected at RM17.8 billion.
