HIGHER Education Minister Mohamed Khaled Nordin said his ministry did not plan to continue giving discounts for repayments of National Higher Education Fund Corporation (PTPTN) loans under Budget 2024.  

He said, however, the matter was subject to the Finance Ministry’s decision. 

“So far, we are no longer continuing with it (discounts for PTPTN repayment),” he told reporters today. 

When tabling Budget 2023, Prime Minister Anwar Ibrahim, who is also the finance minister, said the government had agreed to give discounts of up to 20% on PTPTN loan repayments for three months starting March 1. 

In addition, the government also agreed to defer repayment for borrowers with a monthly income of RM1,800 and below for a period of six months to ease their financial burdens.  

There are four categories eligible for the initiative, namely a 20% discount on the remaining debt for full settlement; a 15% discount for settlement of at least 50% of total outstanding debt; a 15% discount for repayments through salary deductions or direct debits; and a 5% discount for repayment through the myPTPTN app. 

Mohamed Khaled said his ministry would also focus on three items under Budget 2024: digitalisation, research and innovation, and student housing. 

“We are hoping that the government will support our application to implement and apply digitalisation in a bid to make the management of the higher education ecosystem in the country a success. 

“We believe that through digitalisation, we can improve and further escalate efforts to ensure we continue to excel in the higher education sector,” he said. – Bernama, October 4, 2023.