Monthly Archives: June 2010

Taking too long to draft new agreement-Star Online

Monday June 14, 2010

Taking too long to draft new agreement

BACK in August 2008, came a report: Cabinet agrees on new rate for PTPTN loan applicants?that attracted many of the PTPTN borrowers, including myself.

Higher Education Minimster Datuk Seri Mohamed Khaled Nordin said the Cabinet had agreed to the new rate at its meeting and its effective date was backdated to June 1.

Many of us were delighted and looked forward for the new administration rate that will be reduced from 3% to 1%. According tothe minister, the borrowers will get the fresh loan agreements starting from January 2009, based on the new rate.

To date, it has yet to be implemented. We, the PTPTN borrowers have yet to receive the agreement.

Last June, many of us called up PTPTN to enquire of the status regarding the new rates. The answer: We are in the process of renewing the agreement. We will mail it to the borrowers after we complete it.

Earlier this month, many of us called PTPTN again and the answer was still the same. How long time does PTPTN need to complete its task? I understand that PTPTN has about one million borrowers but does one need this long to prepare a new agreement? Implementation should take place shortly after an announcement.

Can anyone update us on this status? Do we still need to wait for another year, perhaps years, for the agreement to be drafted out?

AN SIA, Johor Baru.

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Sue to recover study loans-Star Online

Wednesday October 14, 2009

Sue to recover study loans

 I REFER to “YB Debtors” (The Star, Sept 25). Blacklisting defaulters is mere punishment and not a recovery effort. I am one of those who have been punished. According to my contract, I was to pay RM192 monthly for 10 years beginning December 2002. I delayed in repayment due to job uncertainty. After several reminder notices, I requested PTPN to allow me to pay RM300 monthly so that I could settle the loan faster. However, the officer who attended my request had only one answer for me, that is, I needed to settle the principal and other administration charges in one lump sum to avoid being blacklisted. I was puzzled why PTPTN should make it difficult, knowing that borrowers would not be able to pay in lump sum. The PTPTN officers completely rejected further negotiation, and recently, I was barred from leaving the country by the Immigration Department. I do not know how many others of the 26,000 defaulters are in similar straits but if PTPTN’s ultimate aim is to recover the outstanding loans, it should take court action against defaulters rather than barring them from leaving the country. THE PUNISHED, Kuala Lumpur.