New PTPTN repayment scheme might be announced by this month

PTPTN chairman Wan Saiful Wan Jan hopes to reveal the new repayment scheme to the public by this month.

On May 5, he submitted a Public Consultation Paper on PTPTN to three ministers, namely Finance Minister Lim Guan Eng, Education Minister Dr Maszlee Malik and Youth and Sports Minister Syed Saddiq for review. With the ministers’ approval, then only will Wan Saiful announce the new scheme.

According to Pakatan Harapan’s 100 days promises, the coalition promised to allow PTPTN borrowers to defer loan repayment if their monthly salary is below RM4,000.

The first initiative Wan Saiful made after being appointed as PTPTN chairman on June 26 last year is removing the education loan defaulters from travel blacklist. It was reported that a total of 429,945 defaulters were “whitelisted”.

However, on December 5, Wan Saiful revealed a repayment scheme that is contrary to Pakatan Harapan’s promise. Monthly deductions between 2% to 15% will be made directly from borrowers’ who earn more than RM2,000 a month.

Consequently, the repayment scheme received furious public backlash. Thus, it was put on hold until today.

Will the promise made by Pakatan Harapan in their manifesto be fulfilled this time around?