PTPTN loan repayment deferment period extended to six months

The government has agreed to extend the three-month deferment period for National Higher Education Fund Corporation (PTPTN) loan repayments to six months, Prime Minister Tan Sri Muhyiddin Yassin said.

He said the six-month deferment, which involves a collection amounting to RM750 million, takes effect today until Sept 30.

“(It) is expected to benefit almost 1.5 million PTPTN borrowers,” he said at a media conference here today.

Last Thursday, PTPTN in a statement, said the government had agreed to defer loan repayments with immediate effect until June 30 in the wake of the COVID-19 pandemic.

Muhyiddin, however, said today that the decision to extend the deferment period by another three months was made by the National Economic Action Council (NEAC) after taking into consideration the ongoing COVID-19 situation the country is facing.

“I am aware that during this crisis that we are facing currently, many would have lost their source of income.

“This is why the National Economic Action Council today decided on several major initiatives, of which I hope will help reduce your burden while going through this difficult time,” the prime minister said. - BERNAMA