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Published by Afterschool.my on Apr 23, 2014, 11:01 am
National Higher Education Fund Corporation (PTPTN) loan arrears have reach almost RM3.5 billion as of March 2014. A total of 425,000 borrowers have yet to settle their outstanding loan arrears.
According to PTPTN chief executive officer Agos Cholan, they will blacklist the names of loan defaulters if no repayment is made to the corporation within 20 months.
To date, 130,000 loan defaulters had been blacklisted, but 45,000 of them had taken the initiative to settle their debts. Meanwhile, PTPTN plans to increase its debt collection by 23 per cent this year through salary deduction.