PTPTN borrowers can negotiate mandatory salary deduction

Chairman Shamsul Anuar Nasarah says borrowers have till January 18 to negotiate, failing which the mandatory salary deduction would be implemented.

KUALA LUMPUR: The National Higher Education Fund Corporation (PTPTN) has urged its borrowers to come forward and negotiate the issue of mandatory salary deduction to repay their loans.

PTPTN chairman Shamsul Anuar Nasarah said borrowers need to come forward by January 18 to negotiate, failing which the mandatory salary deduction would be implemented.

“I would like to repeat the media statement issued by PTPTN on December 17 that PTPTN had already announced it would reinstate the amount of deduction after deducting monthly installments based on the current repayment schedule on 3,193 borrowers.

“If the borrower involved fails to negotiate within the stipulated period, the compulsory salary deduction installment stated in the letter will be imposed on the borrower,” he said in a statement here.

Shamsul said the mandatory salary deduction was implemented as a last resort when borrowers failed to repay despite various avenues made available.

Shamsul Anuar said PTPTN was facing problems since more than 611,956 of those who borrowed loans totalling RM5 billion had never made a single repayment.

“I believe the problem will be solved if the borrowers come and see us. There are various methods that can be considered. One way is for a debt restructuring with the amount of installment based on their affordability and not exceeding 60 years of age,” he said.

Borrowers are also urged to bring along their pay slips to facilitate the negotiation process, he said.

– BERNAMA