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Published by Afterschool.my on Nov 28, 2012, 07:10 am
More students have started repaying off their loans. PTPTN has collected RM737.6 million out of the RM867.2 million due to it in 2011. This is a rise of RM99.2 million compared with the collection the year before, and is a 38% boost as the amount outstanding in 2010 is far greater at RM1.36 billion.Since the scheme kicked off on in October this year, the repayment rate has shot up to 49.9%. The scheme offered to all borrowers, including defaulters, changes their loan terms from interests of 3% to 5% a year to 1% interest a year on their outstanding amount.By early September, over 772,000 borrowers, 70.63% of those who had taken loans from the fund, have settled their accounts. PTPTN said that borrowers can pay as little as RM50 a month.The report states that this uptrend is due to the rise in students who have completed their studies. It also shows that borrowers have understood their responsibilities to PTPTN.In 2011, PTPTN sent 10,090 final warnings to defaulters, while 10,109 letters of demand were issued. However, to extend the scheme offer (Ujrah), legal action was put on hold.
About 144,452 borrowers (RM881.39 million) have yet to settle their unpaid loans, according to PTPTN report. These borrowers are eligible for the repayment scheme but are untraceable due to unreliable system. And the amount of debt owed to PTPTN is unlikely to be recovered soon.The trouble is, while losses and write-downs of creditcard debt typically fall on banks and private-sector, lenders, in the case of student debt, it is largely taxpayer money at risk.PTPTN's old data system - Elmas - is being modified to improve the system. A new system based on Elmas is also being built which totals for RM26 million. This according to some observers, is unjustifiable. Some say that PTPN should instead buy an existing system used by banks for under RM10 million and tweak it to fit its requirements.And while PTPTN is fixing and building its new system, other efforts have been taken to improve their collection rate.These efforts include: Holding briefings at campuses together with the Credit Counselling and Debt Management Agency and student representative councils; Participating in the ‘Jom Heboh' carnival; and Indoor and outdoor advertising, including on in-train side panels, newspapers and billboards.
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The Duke of Edinburgh Award Silver Trial Expedition for Kolej Yayasan UEM juniors was completed successfully at the weekend, but not without some difficulties, mixed fortune, and minor injuries. 25 Silver DofE participants took part. They departed from the college guard house, group by group, with 4..
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Andrew Lim, Ketua Portfolio ACCA Maritim Asia Tenggara, menyampaikan Anugerah Platinum ACCA kepada Josephine Tan, Pengarah Kampus Taylor’s College.Taylor’s College telah diiktiraf sebagai ACCA Platinum Approved Learning Partner, yang merupakan pengiktirafan tertinggi oleh Association of ..
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If you’re looking for an education that fits your busy schedule, Open University Malaysia (OUM) is a top choice for working adults and lifelong learners who need flexibility and accessibility without having to compromise quality.With OUM’s innovative online learning approach, students ca..
It’s not just about which school you go to — it’s about what you do with the opportunities given to you. Your effort, attitude, and determination are what truly shape your journey. With the right mindset, any school can become the foundation for incredible growth.But what if the school itself ..
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