Budget 2023: Up to 20pc discount for PTPTN borrowers from Nov this year to April 2023

Malay Mail
Malay Mail

KUALA LUMPUR, Oct 7 — Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz announced discounts for National Higher Education Fund Corporation (PTPTN) borrowers.

During his Budget 2023 speech this evening, he said Prime Minister Datuk Seri Ismail Sabri Yaakob has agreed to facilitate payment and foster a responsible attitude among the borrowers by giving discounts starting November 1, 2022, to April 30, 2023.

Tengku Zafrul said there will be a 20 per cent discount for full settlement, 15 per cent discount for payment of at least 50 per cent of the total remaining debt in one payment as well as a 15 per cent discount for payroll deduction or scheduled direct debit payments.

On September 15, Ismail Sabri announced that the National Higher Education Fund Corporation (PTPTN) loan for students in M40 (M1) group will be increased from 75 to 100 per cent.

The government, he said, has also agreed to provide loans for the purchase of laptops to PTPTN borrowers in the M40 group.

He said the move was among efforts by the government to protect the interests of “Keluarga Malaysia” students.