UNIVERSITI Malaya’s student group has urged Prime Minister Anwar Ibrahim to continue the National Higher Education Fund Corporation (PTPTN) discount incentives in Budget 2024.

In a statement, Mahasiswa Progresif said Anwar should discuss continuing the incentive with the Finance Ministry, of which he is minister.

The group was commenting on a statement issued by Higher Education Minister Khaled Nordin that the incentive, which ended May 31 as announced during the last budget presentation, would not be reactivated.

“According to the prime minister himself when it was announced, this discount was aimed at easing the financial burden of affected borrowers. So the question that arises from Mahasiswa Progresif is whether the decision to abolish the loan repayment discount incentive means borrowers have overcome their financial burden?

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

“The government’s desire not to continue giving this loan repayment discount is a step backward,” it said.

In February, PTPTN implemented loan repayment discount incentives of up to 20% for three months from March.

Mahasiswa Progresif reminded Khaled that any action that burdened students would lower youth’s interest in furthering their studies.

“This matter not only affects the future productivity of the country, but also the development of human capital in the future.

“Do not let this shortsighted decision adversely impact beneficial long-term plans. Mahasiswa Progresif urges this matter continues to be reassessed.” – October 5, 2023.