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PTPTN borrowers to pay 2% of salaries

Written by: mottaman | 27 Nov 2018 15:19
Picture from The Star
Written by:
27 Nov 2018 15:19
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The Government today announced that there will be a mandatory two per cent deduction from the salaries of National Higher Education Fund Corporation (PTPTN) borrowers who earn RM2,000 and above.

Announcing this, Deputy Education minister Teo Nie Ching said the percentage of deductions will also increase as their salaries increase.

“To ensure the youth are not burdened, the government will begin a two per cent or RM40 mandatory salary deduction the moment a borrower's salary has reached RM2,000.

“This cut will increase progressively according to the wages of the borrower to 15 percent of their salaries,” she said.
 
She said that this was decided in a Cabinet meeting and it was also decided that this deduction will apply to middle 40 (M40) group as well as the bottom 40 (B40).

"For students in the top 20 (T20) group who get first-class honours, we hope that since they come from affluent families, they will continue to service their loans,” she added.

In the 2019 Budget tabled earlier this month, the government announced a scheduled repayment scheme of between 2% and 15% of the borrower’s monthly income, applicable to those earning more than RM1,000 each month.


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