Ptptn Payment Discount 2023

[Hollis Abdelkarim]

Ina statement today, PTPTN said that between October 14, last year and January 31 this year, more than 394,000 borrowers had benefited from the incentive, with the total discount amounting to RM57.78 million, involving repayments eligible for discounts totalling RM442.09 million.

"The three categories include a 10 per cent discount for full settlement of the remaining debt, a 10 per cent discount for a repayment of at least 50 per cent of the remaining debt in one payment, and a 15 per cent discount for repayment through salary deduction or direct debit," read the statement.

He also expressed appreciation to borrowers for their commitment to making repayments, as this ensures the continuity of the education loan fund for the next generation so that no student is barred from attending institutions of higher education due to financial problems.

The three discount categories are: 10% discount on the remaining debt for full loan settlement; 10% discount on payment of at least 50% of the debt balance in one payment; and 15% discount on payment by salary deductions or scheduled direct debits.

Borrowers who want to make a full loan settlement or repayment of at least 50% of the debt balance in one payment must first apply for loan balance confirmation either through the PTPTN portal or myPTPTN app, or by contacting the PTPTN marketing executive (www.ptptn.gov.my/hubungi-ptptn).

PTPTN chief executive Ahmad Dasuki Abdul Majid said the loan repayment discounts would benefit 1.7 million borrowers. This shows that the government always prioritises the welfare of borrowers and the sustainability of PTPTN funds for future generations.

KUALA LUMPUR: The implementation of the National Higher Education Fund Corporation (PTPTN) loan repayment discount of up to 20%, which is effective from Wednesday (March 1) until May 31 as announced in the Budget 2023, covers four categories.

PTPTN said it covers a 20% discount on the remaining debt for full settlement of the loan; a 15% discount for the settlement of at least 50% of the total outstanding debt with the remainder through salary deduction or scheduled direct debit repayment; in addition to a 5% discount for repayment through the myPTPTN application.

It also said that borrowers wanting to make a full settlement of the loan or 50% of the remaining debt must verify the loan balance, through the myPTPTN application or PTPTN's official portal at www.ptptn.gov.my or contact the PTPTN marketing executive, before making repayments through available payment channels.

Borrowers who are making repayments through salary deduction or direct debit are automatically eligible for a 15% discount; borrowers who want to make a deduction through that method can apply through myPTPTN or the official PTPTN portal.

Meanwhile, PTPTN also said that borrowers who are in the repayment period and have a monthly income of RM1,800 (gross salary) or below, are eligible to apply for payment deferment, except for borrowers who have participated in the Debt Management Programme (DMP) under the Credit Counselling and Debt Management Agency (AKPK) for PTPTN loans.

According to PTPTN, deferral applications can be made from March 1 through PTPTN's official portal, and borrowers need to complete contact and employment information and upload the latest salary slip, which have been certified.

Dimaklumkan bahawa soal selidik ini bertujuan untuk mendapatkan maklum balas pelanggan berhubung tahap pengamalan nilai-nilai murni di jabatan/agensi Kerajaan yang memberikan perkhidmatan kepada tuan/puan.

Berdasarkan pengalaman atau pemerhatian semasa berurusan dengan BERNAMA, sila beri maklum balas kepada pernyataan-pernyataan yang berikut dalam konteks semasa. Kami menghargai maklum balas yang jujur dan rasional daripada anda.

The annual discounts for PTPTN education loan repayments has been renewed, as shared by Datuk Seri Anwar Ibrahim in the Budget 2024 tabling. This time around, the total discount is lower at a maximum of 15%, and it is targeted towards consistent repayment instead of lump-sum ones.

PTPTN chief executive Ahmad Dasuki Abdul Majid said the offer, since March 1, covers four categories, which is a 20% discount on the remaining debt for full settlement of the loan and a 15% discount for settlement of at least 50% of the remaining debt.

He also thanked all borrowers who had made loan repayments throughout the discount implementation period and expressed his appreciation to strategic partners who also organised the PTPTN loan repayment campaign.

Following that, the PTPTN loan repayment discount incentive that ended May 31, as announced during the presentation of the Budget 2023, will no longer continue or be a discussion issue for the upcoming Budget 2024.

Mahasiswa Progresif Universiti Malaya is of the view that this kind of action is like a blow to the fate of PTPTN borrowers because they are no longer eligible to receive discounts as given by the government before.

In addition, Mahasiswa Progresif would like to remind the minister that any action seen to burden students at the higher education level at this time will further reduce the interest of young people to continue their studies to a higher level.

We also hope that the prime minister will discuss the issue with the Finance Minister so that the PTPTN loan repayment discount incentive is not abolished but rather continued in the presentation of the Madani Budget 2024 next week.

At first, I briefly considered not taking the lump sum payment discount. The other option allows you to spread the payment out, but you have to pay the full amount. The length of time depends on how much you owe. When I called Maysky to discuss, they told me I could stretch my payment up to 7 years.

Meanwhile, I called up Maybank to ask them to extend the credit limit on my MasterCard. After a few questions, they gladly agreed to. And then I went to the nearest RHB branch to apply for an RHB credit card. It took about two weeks for the new credit card to arrive. And now, I was finally ready.

Thank you for always writing great and wonderful articles about personal financing , I have always found your articles very useful and enjoyable to read , your strategy of paying off your loan is great but thank God I dont have a loan to repay . and yep I money is a great website to compare different loan prices and so are other websites such as Ringgit Plus , Loan Street and Qompanion , perhaps you would like to write an article about Fintech companies in Malaysia , here is Qompanion website I find it really useful to compare travel insurances and they also write great articles .

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Luckily gov sometime come out with bargaining PTPTN payback scheme. I managed to settled my study loan of about RM18K when gov offered 20% discount with one time settlement. This loan been dragged for almost 10 years and I am quite happy for finally get rid of the loan.

Usually zero cost balance transfer is just for 6 months. Of late I have been using alot of balance transfer with Pbbank which charges a one time charge of 7% for a 36-month instalment. This worked out to be an effective interest of below 5%, a good option to tie you over and ease cashflow.

Apparently I had the same case as yours. I was also a scholar of a GLC company where I could hardly see how I could grow in the position offered, and decided to leave after a mere 5-months of tenure. The letter only came 5 years later too (Is this their SOP? Hahaha..!) and the payment methods offered were almost identical except it was a 30% discount if paid lump sum.

I think most companies (in Malaysia especially) are pretty open to discussion. After all, this is the land of discounts right? I suggest you have an open conversation with your company and see how things go?

I really enjoy reading your articles and the way you articulate what you felt at that moment when the decision was made. I am a scholar too at my final year and I am about to go back to serve the country I love. I have had the opportunity to work at a corporate in automobile industry during my studies and gained some insights about corporate working experience. It is not the way I envision my future career will be. May I know the reason you why left Petronas? You can drop me an email if it is more convenient.

Thanks for your reply. I could not help but think that are big companies always like that? Like the work is just so one-dimensional that we all get bored after two or three years? Does working cultural in the country play a big part in defining how the company works? I do not want to generalize but I just want to hear more about your opinion since you have worked in different countries before and with different people.

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Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said a 15 per cent discount would be offered on the balance of loan for those who wish to make a full settlement as well as a 12 per cent discount for those who wish to settle at least 50 per cent of their loan balance in one payment.

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