Cabinet agrees to raise PTPTN repayment threshold

PARLIAMENT | The cabinet has decided to increase the two percent mandatory pay cut threshold for National Higher Education Fund (PTPTN) loan repayment to a monthly salary of RM2,000.

Deputy Education Minister Teo Nie Ching said today that the earlier RM1,000 announced in the Budget 2019 speech was reviewed on Nov 23.

The cabinet, Teo added, also decided to exempt PTPTN recipients in the bottom 40 (B40) and middle 40 (M40) income groups who achieved first class honours for their degrees from having to repay their study loans.

"I am also pleased to announce that the cabinet meeting on the exemption (of repaying PTPTN loans) given to B40 will also be extended to those in the M40 group.

"As for the students in the top 20 (T20) income group (who obtain first class honours), since they come from families that can afford (repaying PTPTN loans), we hope they can continue to repay," she said during the question-and-answer session at the Dewan Rakyat.

Putrajaya will impose scheduled salary cuts of between two percent and 15 percent, Teo added.

The previous administration had exempted first class honours students from repaying their PTPTN loans.

On Nov 2, Finance Minister Lim Guan Eng said that students from B40 households who achieve first class honours would receive no exemptions.

[More to follow] -Mkini

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