KUCHING: The Sarawak government will pay 30 percent of the National Higher Education Fund Corporation (PTPTN) loan taken by 9,634 Sarawakians.
Yayasan Sarawak director Azmi Bujang said RM30mil had been allocated for the purpose.
“The state government through Yayasan Sarawak and PTPTN has agreed to provide a formula to implement this initiative. Those who have paid at least 30 percent of their PTPTN loans, Yayasan Sarawak will pay 30 percent of the balance,” he said during a press conference held at Yayasan Sarawak, Jalan Sultan Tengah here today.
He said the incentive would only be for Sarawakian PTPTN loan defaulters who had achieved their loan thresholds by at least 30 percent.
“For those whose arrears are less than 30 percent, we urge you to make repayments to PTPTN so that you will be able to benefit from the 30 percent rebate as soon as possible.”
Explaining further, Azmi said the 30-30 repayment formula was necessary to ensure PTPTN loan defaulters make their repayments according to schedule.
“We cannot provide this incentive for those who have yet to start paying their loans to PTPTN.
“With this 30-30 repayment formula, we hope this will help to sustain PTPTN as a means to provide financial assistance for future generations.”