KUALA LUMPUR, Nov 2 (Bernama) – Several measures to assist the National Higher Education Fund Corporation (PTPTN) loan borrowers have been announced by the government in Budget 2019 today as part of the body’s efforts to ensure the debts inherited from the previous government is resolved.
Describing the debt as very high, its chairman Wan Saiful Wan Jan said the body was committed to implement the measures as part of the reformation agenda being carried out by PTPTN.
In a media statement to Bernama, Wan Saiful said he took the twin approach to return the role of PTPTN as a education fund in line with its original objectives and to imbue noble values among the people.
The government announced measures on PTPTN loans under Budget 2019 with repayment via scheduled deduction of between two to 15 per cent for those earning not more than RM1,000 per month as well as tax relief to companies which help to settle their employees’ loans by the end of 2019 while individuals will enjoy income tax relief for savings in the National Education Saving Scheme (SSPN) up to RM8,000.
Also to be implemented is the write off on the balance of loans for borrowers aged 60 and above with monthly income of less than RM4,000.
-- BERNAMA
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