PTPTN ready to negotiate with loan defaulters

The National Higher Education Fund Corporation (PTPTN) is prepared to negotiate with blacklisted defaulters or those who have been issued with summonses to help them repay their loan, its chairman Ismail Mohamed Said said.

He said that through the much more friendly approach, the corporation would open its door to negotiation and work out the loan repayment structure.

“The borrowers and PTPTN officers will discuss the amount of deposit to be paid by the borrowers and the amount of monthly installment as well as how the payment should be made, either through salary deduction or bank’s order,” he

Speaking to reporters after handing over 2,500 goody bags at the Gombak toll plaza here, Ismail said the borrowers could come to PTPTN to negotiate the repayment process.

He said up to July 31 this year, a total of 961,346 borrowers still owed the corporation a total of RM5.43 billion.

Of the amount, 715,086 borrowers have started to repay their loan with RM2.63 billion collected thus far.

Some 246,260 or 25.62 per cent have yet to make any payment for their loan, totalling RM1.39 billion, while the arrears for those who have started to make repayment but at an irregular schedule is RM1.42 billion.

– Bernama