KUALA LUMPUR (July 29): The National Higher Education Fund Corporation (PTPTN) has recorded RM8.99 billion of total deposits for the National Education Savings Scheme (SSPN) as at May 31, with more than 4.98 million accounts recorded.

“Since the establishment of PTPTN in 1997 until May 31, 2021, PTPTN has helped a total of 3.51 million students with a total loan of RM63.82 billion.

“PTPTN will continue to intensify various promotions and campaigns to educate the community [to] start saving for their children, and at the same time can reduce their children’s reliance on education loans for a long-term period,” said PTPTN chairman Wan Saiful Wan Jan during the virtual launch of PTPTN’s Strategic Plan 2021-2025.

In terms of loan repayment management, Wan Saiful said PTPTN always listens to the problems faced by its borrowers.

He said previously the government had delayed the loan repayment from March 19, 2020 to Dec 31, 2020 to all PTPTN borrowers as well as special deferral repayments to affected borrowers for three months between January 2021 to May 2021.

“Latest, PTPTN has implemented deferment of repayment loan for a period of three months to assist borrowers affected by the Covid-19 pandemic,” he added.

PTPTN launched its Strategic Plan today that outlined its planning and direction in five years, starting 2021 to 2025, to achieve its mission and vision as an organisation that can manage funds/loans strategically based on excellent governance and integrity.

These include making SSPN a major product of education savings in Malaysia, empowering education loans as superior education loans, improving loan repayment collection, implementing strategies for funding and investment with optimal returns and empowering more dynamic and excellent organisation.