Heads up, university students!
There are some interesting developments during a round-table discussion between the National Higher Education Fund (PTPTN) and the National Council of Professors (MPN), Malay Mail reported.
During the discussion, CEO of the MPN said that they will be looking into the policy of loan exemption on PTPTN borrowers who graduated with First Class honours.
Nothing is set in stone yet but this is truly great news!
He explained that this decision was made because the standard for first class honours differed across different higher education institutions.
Currently, the loan scheme only looks at academic performance of students and does not factor in extracurricular activities.
Datuk Raduan said that extracurricular activities should also be considered when exempting borrowers from their loans.
Deputy chief executive of PTPTN, Mastura Mohd Khalid, stated during the discussion that currently, there are about 1.3 million Malaysians actively repaying their student loans.
She stated that there was still RM7.9 billion currently owed by about 600,000 borrowers who have yet to repay their loans and that around RM10.9 billion has been collected so far.
It has also been revealed that currently, 42,084 borrowers have been exempted from repaying their loans because they graduated with First Class honours.
As for now, no revisions to the exemption policy have been discussed, but it looks like university students may have to work a little harder to get exempted from their loans in the future!