Budget 2022: Up to 15% discount for PTPTN borrowers

by | Oct 30, 2021 | NATIONAL, NEWS | 0 comments

PTPTN borrowers are delighted after the Finance Minister had announced discounts during the Budget 2022 on Friday, October 29.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said that anyone who makes a full settlement on their outstanding debt is eligible for a 15 per cent discount.

He added, “There will be a 12 per cent discount for payments if at least 50 per cent of the outstanding balance in a single payment is made.”

Furthermore, a 10 per cent discount will be available to those who opt for salary deduction or direct debit according to the schedule.

People who had taken up loans during their tertiary education are relieved that the government is supporting them.

Pei Yee, recently hired as a video editor, was grateful that the government is making it somewhat easier to pay back.

“My loan is around RM 60,000 and I think the loan covered 50 per cent of the degree. To know that I will at least get a 10 per cent discount if I choose salary deduction is better than nothing,” she said.

Pei Yee also encourages others who have not started or are not interested to pay back their loans so others are not deprived of their education.

Tan Hoe Keat was also relieved after hearing about the PTPTN discounts. Currently an intern, Tan was worried that he may have to default on his loans.

He said, “I only just got my internship and eventually I have to find a job. I guess this announcement will help me in the planning of my expenses.”

He added that he will choose the 10 per cent discount due to it being more affordable.