16,051 first class honours graduates need not repay PTPTN loan

• First class honours graduates can apply for conversion to any PTPTN branches
• Loans worth RM450.47 million have been converted to scholarships
• PTPTN approved loan amount worth RM48.27 million for 2.15 million students this year

In appreciation for their diligence, 16,051 graduates who borrowed from the National Higher Education Fund Corporation (PTPTN) will be debt-free. Their study loans will be converted to scholarships for having passed with a First Class Bachelors Degree during the period from 1 October 2012 to 31 January 2013.

As of January 31 this year, study loans amounting to RM450.47 million have been converted to scholarships. Those who had obtained the first class honours bachelors degree need to apply for conversion of the status of their loans to scholarships at any of the PTPTN branches.

In other developments, 17,317 borrowers had repaid their loans with a discount of 20 per cent between 1 October 2012 and 1 January 2013 involving a discount of RM62.11 million.

In addition, 953 borrowers who had been blacklisted had settled their loans amounting to RM5.1 million.

This year, PTPTN allocated RM4.24 billion for disbursement to students and as of  31 January, the PTPTN had approved loans to 2.15 million students involving an allocation of RM48.27 billion.