KUALA NERUS: Borrowers of the National Higher Education Fund Corporation (PTPTN) are urged to optimise the various incentives and offers in Budget 2023 announced by the government yesterday.
Its chairman, Dr Apli Yusoff said the incentives included discounts on repayment of balanced loans to attract more borrowers to settle their outstanding balance.
“We thank the government for the various incentives and hope borrowers will take advantage of the opportunity,“ he told reporters when met after attending the Jom Heboh 2022 Terengganu carnival at the State Sports Complex in Gong Badak, near here today.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz when tabling the 2033 Budget yesterday announced that there would be a 20 per cent discount for full settlement of PTPTN loan, a 15 per cent discount for payment of at least 50 per cent of the total balance in one payment and 15 per cent discount for those making repayment through monthly salary deduction or scheduled direct debit payments.
The discount incentive will start from Nov 1 this year to April 30, 2023.
The government also announced a PTPTN loan repayment exemption for all students who graduate with a first-class bachelor’s degree, an increase in PTPTN loans and providing loans for the purchase of laptops to PTPTN borrowers in the M40 group.
Tengku Zafrul said the government also proposed to extend until 2024, the individual income tax relief of up to RM8,000 for annual net savings into the Skim Simpanan Pendidikan Nasional (SSPN).The government plans to extend individual income tax relief up to RM8,000 until 2024 for net annual savings in the National Education Savings Scheme (SSPN).
Meanwhile, Apli said details on the implementation of the incentives to increase the loan amount, the provision of computer loans to the M40 group and the PTPTN loan repayment rebate would be announced later.
“The PTPTN loan repayment exemption for all borrowers who obtained first-class bachelor’s degree has already been implemented and applications have been opened from Sept 15 to Dec 31 this year for borrowers graduating in 2019, 2020 and 2021,“ he added.-Bernama
