The government has agreed to defer the loan repayments of the National Higher Education Fund Corporation (PTPTN) for another three months, until 31 March 2021. Eligible borrowers who are affected by Covid-19 can apply for this extension starting tomorrow 5 January 2021.
According to Higher Education Minister Datuk Seri Dr Noraini Ahmad, the decision was made out of concern for borrowers who are still affected by the Covid-19 pandemic and are unable to repay their loans. PTPTN borrowers who have experienced loss or reduced income due to the pandemic are eligible for this further three-month deferment.
Eligible borrowers can make their applications via PTPTN’s official portal from 5 January until 31 March 2021 without the need for any supporting documents. Borrowers will be notified of the approval via email within three working days of applying. The three-month extension of the loan deferment will begin in the same month as the approval of the individual’s application.
“Borrowers are reminded to update their contact information to ensure that information regarding the approval of extension applications can be conveyed to them,” PTPTN added in a statement.
The initial PTPTN loan repayment deferment was first announced as part of Malaysia’s Revised Economic Stimulus Package 2020 and took place from April to June 2020. It was then extended by three months for the period of July to September, before being further extended to the end of 2020. With this latest extension, eligible borrowers will be able to postpone their repayments for a total of 12 months.
You can make your applications for the extended deferment on the PTPTN portal starting tomorrow.