155,343 PTPTN borrowers defaulted on RM929m loans

(Bernama) – At total of 155,343 recipients of National Higher Education Fund (PTPTN) loans have yet to repay their loans totalling RM929.53 million as of last Oct 31, the Dewan Negara was told on Monday.

Deputy Higher Education Minister Datuk Dr Hou Kok Chung said the total amount was arrived at after it has removed the number of borrowers who had duly repaid their loans, comprising of 730,221 and involving a total sum of RM2.8 billion.

“From Dec 1, 2006 till last Oct 31, at total of 267,822 final reminder notices (FRNs) and 189,813 letters of demand (LODs) were issued.

“Following the issuing of the FRNs, a total of 75,530 borrowers have started to service their loans while action has been taken against 81,151 borrowers issued with LODs.

“Legal action was taken against 104,083 defaulters involving a total amount of RM1.12 billion and 69,667 of these cases were settled at the courts,” he said when replying to a question from Senator Ahmad Hussin.

Dr Hou also told the Dewan that PTPTN had given exemptions to 10,849 borrowers for graduating with first class honours and that the amount involved was RM312.24 million.