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Published by Afterschool.my on Nov 17, 2014, 02:17 pm
The National Higher Education Fund Corporation (PTPTN) will start implementing the loan cuts (5% for IPTA and 15% for IPTS) after 1 November, and will only affect about 200,000 students. Existing borrowers, who have received loans before 1 November, would not be affected.
"Parents and existing borrowers need not worry because PTPTN will honour our commitment. There will be no reduction in loan amounts given to those who received it before Nov 1," said PTPTN chairman Datuk Shamsul Anuar Nasarah.
Fund constraints and unpaid loans from previous borrowers have pushed PTPTN to decrease the loanable amount which in effect would cater to an additional 50,000 students in need of financing.