KUALA LUMPUR: The scheduled salary deductions for National Higher Education Fund Corporation (PTPTN) recipients earning a monthly income of RM2,000 and above will start from January next year.
The revised threshold from RM1,000 to RM2,000 with a minimum deduction of RM40 a month will be implemented from January next year.
Education Minister, Dr Maszlee Malik said the decision to revise the threshold was decided by the cabinet.
Speaking to reporters at the parliament lobby here today, he said the government decided that a two per cent wage cut, or RM40, be made as soon as the borrower’s salary reached RM2,000 and above.
“The new threshold was decided by the Cabinet and it will be fully implemented from January next year,” added Dr Maszlee.
In the 2019 Budget tabled earlier this month, the government announced a scheduled repayment scheme of between two and 15 per cent of the borrower’s monthly income, applicable to those earning more than RM1,000 each month.