Targeted PTPTN moratorium for three months under Pemulih

Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) logo

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By Nur Ashikin Louis

KUCHING, June 28: National Higher Education Fund Corporation (PTPTN) will give a targeted moratorium for three months to its borrowers.

Prime Minister Tan Sri Muhyiddin Yassin said that is one of the initiatives related to the deferment of loan repayment under the People’s Protection and Economic Recovery Package (Pemulih).

“This initiative is introduced following several government agencies agreeing to implement deferment of repayment of education loans,” he said when announcing the Pemulih in a live telecast today.

Apart from that, Pemulih is offering deferment of repayment of Federal Education Loan under the Public Service Department (JPA) as well as payment of compensation claims of Federal Scholarship recipients up to six months.

“We also allow deferment of the repayment of the Mara Education Loan for a period of three months or rescheduling the repayment of the loan with monthly installments as low as RM100 for 12 months as well as deferment of the repayment of the Skills Development Fund Corporation (PTPK) loan for three months.

“The total value of this initiative is estimated at RM400 million and will benefit 1.6 million people,” he added.

Furthermore, affected insurance and takaful policyholders can also apply for deferment of payment of insurance premiums and takaful contributions (opt-in) which will be extended until Dec 31, 2021.

“This initiative covers policyholders and life insurance and family takaful certificates. More than 1 million people are expected to benefit from this extension. The total value of premiums and deferred contributions is estimated at RM2.6 billion,” Muhyiddin emphasised. — DayakDaily