PTPTN records deposit collection of RM3.01 billion for SSPN in 2021

KUALA LUMPUR: The National Higher Education Fund Corporation (PTPTN) recorded a total of RM3.01 billion in in deposit collection for the National Education Savings Scheme (SSPN) account for 2021, an increase of RM1.02 billion or 50.95 per cent compared to RM1.99 billion in 2020.

PTPTN chairman Datuk Wan Saiful Wan Jan, in a statement today, regarded it as an encouraging achievement as it was the highest collection since three years ago, with RM1.14 billion recorded in 2018 and RM1.37 billion in 2019.

"The total amount of SSPN deposits accumulated until Dec 31, 2021 was RM10.88 billion, while the deposit receipt for 2021 was RM3.01 billion, which is 167.08 per cent of the year's target of RM1.8 billion.

"This receipt is also 27.63 percent of the total deposits received since SSPN was introduced in 2004," he said.

He said a total of 421,281 new SSPN accounts were opened last year, surpassing the annual target of 400,000 accounts and as of last Dec 31, a total of 5.24 million accounts had been opened.

Wan Saiful said in an effort to improve its service delivery to customers, PTPTN had introduced new channels for loan repayment and savings through strategic partnerships with other parties such as ShopeePay, BESTPay, KiplePay, KelantanPay, PayHalal, AnsaraPay and SpayGlobal.

Apart from that, payment channels through internet banking such as JomPay and selected banks as well as e-Pay services are also available.

This is in line with the PTPTN Strategic Plan 2021-2025 which is focused on PTPTN's digitalisation efforts, he said, adding that PTPTN would continue to provide the best service to customers in line with the new norms and developments in the digital world.

Wan Saiful said PTPTN assisted 140,977 students to further their studies at institutions of higher learning last year through approved education loans amounting to RM3.51 billion.

Of the total, 70,412 students or 49.95 per cent were from the B40 group and involved a total loan of RM1.95 billion, while the total loan repayment received last year was RM2.36 billion, an increase of RM1.01. billion or 74.53 per cent compared to RM1.35 billion in 2020.

-- BERNAMA