PTPTN: RM8.99 Billion SSPN Deposits Recorded Up To 31 May 2021

Alex Cheong Pui Yin

30th July 2021 - 2 min read

The National Education Savings Scheme (SSPN) has seen a total deposit of RM8.99 billion as of 31 May 2021, said the National Higher Education Fund Corporation (PTPTN). It also recorded the registration of more than 4.98 million accounts.

“PTPTN will continue to intensify various promotions and campaigns to educate the community [to] start saving for their children, and at the same time can reduce their children’s reliance on education loans for a long-term period,” said the chairman of PTPTN, Wan Saiful Wan Jan, who added that PTPTN has assisted 3.51 million students with a total of loan of RM63.82 billion since its establishment in 1997 to 31 May 2021.

Additionally, Wan Saiful commented that PTPTN is always attentive to the problems faced by its borrowers. For instance, the government had offered a loan repayment deferment from 19 March 2020 to 31 December 2020 for all PTPTN borrowers, on top of a special three-month payment postponement between January to March 2021, and an additional two months up to May 2021.

“Latest, PTPTN has implemented deferment of repayment loan for a period of three months to assist borrowers affected by the Covid-19 pandemic,” said Wan Saiful during the virtual launch of the corporation’s Strategic Plan 2021-2025. He was referring to the ongoing deferment that will last until August 2021.

ptptn wan saiful wan jan — (Image: The Sun Daily)

Meanwhile, PTPTN’s Strategic Plan 2021-2025 was launched as a blueprint to guide the corporation’s direction in the next five years. It seeks to help PTPTN achieve its mission and vision as an organisation that can strategically manage funds and loans through proper governance and integrity.

Accordingly, the plan will rely on five main strategic thrusts to power through, namely:

Making SSPN the main education savings product in the country
Strengthening the management of education loans
Improving the management of loan repayment collection
Implementing funding and investment strategies
Empowering a more dynamic and excellent organisation

“After 24 years of existence, the time has come, the public should know about PTPTN’s main function and contribution to the country’s economic and educational development…through effective communication, we can dispel the negative perception of some people on PTPTN,” said Wan Saiful.

(Sources: The Edge Markets, The Sun Daily)

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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