SIBU: Assistant Minister of Public Health, Housing and Local Government II, Michael Tiang Ming Tee, said the state government would continue to help Sarawak students repay their National Higher Education Fund Corporation (PTPTN) loans.
Speaking during a courtesy call on Yayasan Sarawak Director Mersal Abang Rosli in Kuching on Tuesday (Feb 8), he said the payment assistance initiative would continue this year.
Tiang, who is also Pelawan assemblyman, said he was often asked by parents and students about the matter.
“Many parents and borrowers ask me whether this initiative launched in 2020 will be continued because many have repaid their PTPTN loans up to 30 per cent or more.
“They are worried whether they will receive such a discount and the answer is yes, the state government will continue this initiative,” he explained.
“Under this initiative, Sarawak borrowers who have paid at least 30 per cent of their PTPTN loans, Yayasan Sarawak will pay another 30 per cent of their loan balance,” he said.
He said the Yayasan Sarawak also advised PTPTN borrowers to take advantage of the federal subsidy.
During the announcement of the 2022 National Budget last year, the federal government announced a 10 to 15 per cent discount on PTPTN repayments from Nov 1, 2021 to April 30, 2022, for the benefit of 1.67 million PTPTN borrowers nationwide.
PTPTN borrowers who repay their loans are eligible for a 15 per cent discount on their outstanding balance in the first category, while those who repay at least 50 per cent of their outstanding debt in one payment will receive a 12 per cent discount.
Under the third category, there is a 10 per cent discount for those who make repayments through salary deductions or direct debits according to a pre -determined schedule.
“Yayasan Sarawak would like to advise PTPTN borrowers from Sarawak to take advantage of this discount for the first half of 2022.
“For the second half, the Sarawak government will continue to repay 30 per cent of their arrears as we did last year,” he added.
