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12 August 2012| last updated at 05:22PM

1.99m students received PTPTN loans worth RM44.62b



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ALOR SETAR: About 1.99 million students have benefited from study loans offered by the National Higher Education Fund Corporation (PTPTN) since it was established 14 years ago.

 

Local Housing and Government Minister Datuk Seri Chor Chee Heung said RM44.62 billion have been disbursed, of which RM23.78 billion was given to 1,371,754 public university students (IPTA) and RM20.84 billion for students in private universities (IPTS). 
 
"The government does not want students to face obstacles in pursuing their studies although the rate of repayment for such loans has been poor.
 
"If the opposition continues to criticize the PTPTN as a bad idea, surely a majority of students will drop out as they cannot afford it," he told reporters after presenting a loan advance warrant to 964 students who will further their study in local universities starting this September, here today.
 
He said Malaysia needed at least 50 per cent of its citizens to be university graduates to become a developed country by 2020.
 
Chor said of the 1.99 million who received loans, 1.124 million should be repaying their loans but only 769,848 have done so with an accumulated RM3.37 billion until June this year.
 
"I appeal to students to pay their loans upon completing their studies. If they don't want to pay then they should study hard and graduate with a first class degree so that the loan can be converted to a scholarship," he said.
 
In Kedah, 33,095 students have received loans worth RM678.6 million in 14 years until June.
 
Meanwhile, in TEMERLOH, 4,430 students were recently exempted from paying their PTPTN loans after graduating with a first class degree or equivalent.
 
Speaking to reporters after a breaking of fast function with Orang Asli Muslim converts at Kampung Penderas Kuala Krau yesterday, PTPTN chairman Datuk Ismail Mohamad Ismail Said said the exemption involved a total allocation of RM116.230 million.
 
"Until June 30, a total of 13,011 students have been exempted from repaying their study loans following excellent results and this involved funds of RM370.70 million," he added. -- BERNAMA

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