#ICYMI National Higher Education Fund Corporation (PTPTN) borrowers, who are earning less than RM1,800 per month will be eligible for a 6-month loan moratorium.
Not only that, Finance Minister, Datuk Seri Anwar Ibrahim has also announced that the government would allow a 20% discount on PTPTN loan repayments for 3 months. Both are set to begin in March.
"This will give borrowers who qualify for the moratorium ample time to look for better-paying jobs," he told the Dewan Rakyat during the tabling of the 2023 Budget last Friday.
Welcoming the government’s initiative, PTPTN in a statement said, "These initiatives will ease the borrowers' financial burden and therefore, the implementation of the initiatives will be announced soon.”
"As an agency under the Higher Education Ministry, PTPTN is always committed and ready to help borrowers in line with the Budget 2023 initiatives.”
Prior to this, the government had announced that it would not introduce a debt cancellation programme for PTPTN borrowers from the poor and B40 categories. This was because the debt cancellation would involve 1.84 million borrowers with a debt of RM42.34 billion.