FINALLY, some good news for National Higher Education Fund Corporation (PTPTN) loan borrowers: the Government has recently announced that eligible borrowers may apply for a three-month deferment to repay their loans.
Last year, the Government announced a deferment of loan repayment for all PTPTN borrowers due to the pandemic, effective March 19, 2020 to Dec 31, 2020.
They followed this with another three-month extension between January and May this year for those who are still affected and are unable to repay their loans.
Considering the amount of drama that the country is dealing with at the moment, it is quite surprising that the ones in charge have not forgotten about those who are still struggling to make repayments amid the COVID-19 pandemic.
While the current full lockdown is crucial to contain the virus, it has no doubt put additional strain on our finances. On top of job loss and pay cuts, the fact that the cost of living is still rising is yet another blow that Malaysians have to come to terms with.
But having said all that, a moratorium move for PTPTN loans is the most rational move given the current situation, but a note of reminder for borrowers: don’t forget to repay your loan once the situation improves.
And while we are here, do spare a thought for new students who are planning to apply for their PTPTN loans as well. With the pandemic showing no signs of abating, shouldn’t their monthly allowances be given a boost in tandem with the worsening cost of living?
With the existing PTPTN loan amount no longer sufficient to accommodate the needs of the students, this makes planning their daily expenses a daunting challenge, with the situation being especially dire for students in the B40 category.
Mind you, this isn’t something new: there have been plenty of similar concerns even before the pandemics, with many quarters concerned that the rising cost of living would threaten the quality of life of students, especially those in the lower income group. Add the pandemic to the equation, and I imagine that the situation would be much worse.
The students, while not as severely affected by the pandemic as the working class, have their own share of challenges ahead. While a few hundred ringgit increase in their monthly allowances might seem trivial to some, one has to remember that in these pandemic-fuelled days, every ringgit counts. – June 18, 2021
Photo credit: Malay Mail
