10 Jun - 2 min read
The government has agreed once again to allow eligible individuals to defer their repayment of National Higher Education Fund Corporation (PTPTN) loans for three months.
The Higher Education Minister, Datuk Dr Noraini Ahmad said that this decision was made in light of the government’s concern for borrowers who are still affected by the Covid-19 pandemic and are unable to repay their loans. These include individuals who have lost their source of income, or have suffered a paycut or a decrease in income. They can submit their applications through PTPTN’s official portal starting from today until 31 August 2021, without need for any supporting documents.
Aside from that, PTPTN’s FAQ on this round of aid also clarified that the three-month deferment period will begin either on the month the application is approved, or a month after obtaining approval – depending on the borrower’s financial circumstances.
Specifically, individuals who have lost their income will be allowed to defer their payments starting immediately from the month their applications are approved. Meanwhile, those who are suffering from paycuts will be able to defer their payments beginning from the following month after their applications are approved. Note that PTPTN will inform applicants of their application status via email within three days of receiving it.
Prior to this, the government had announced the first PTPTN loan repayment deferment during the reveal of Malaysia’s Economic Stimulus Package in March last year. It was set to take place between April to June 2020. Subsequently, it was extended for another three months to September 2020, followed by a second extension until the end of the year. In January 2021, the government agreed to yet another round of three-month deferment, as well as an additional two months up to May 2021.
Borrowers who have enquiries can contact the PTPTN careline at 03-2193 3000 from Monday to Friday, between 9am to 5pm. Alternatively, they can head on over to PTPTN’s official website or check out PTPTN’s FAQ for this round of loan deferment.
(Source: The Sun Daily)