Latest news with #NationalHigherEducationFundCorporation
New Straits Times
2 days ago
- Business
- New Straits Times
PTPTN offers repayment lifeline amid rising costs
KUALA LUMPUR: Faced with rising living costs and mounting financial commitments, many borrowers are finding relief through the National Higher Education Fund Corporation (PTPTN) loan restructuring initiative. For financial officer Suhazlin Shahrul Anuar, 36, who took out an RM16,950 loan in 2007 when studying at Politeknik Johor Baru, restructuring her loan early last year was a turning point in managing her finances. "Previously, I was paying around RM180 a month. After I took a housing loan, I just couldn't keep up with the full amount." Her new repayment schedule, which runs from December 2024 to June 2032, has slashed her monthly commitment to RM95.36. "It helped me reorganise my budget. I no longer worry about falling behind or seeing my name listed in the Central Credit Reference Information System (CCRIS)." Suhazlin said the restructuring allowed her to keep paying without defaulting, thanks to a direct debit arrangement she now uses. "It's not about avoiding responsibility. Restructuring made it manageable. I encourage other borrowers in similar situations to restructure too. It's better than ignoring the loan altogether." She views repaying the restructured loan as a social responsibility. "We've benefited from this fund. By paying it back, we're ensuring the next generation has the same opportunity to pursue their education." Her sentiments are echoed by Chong Suk Ting, 28, an environmental, health and safety engineer who restructured her PTPTN loan after taking part in her company's voluntary separation scheme (VSS). "I started my loan around 2021 when I was studying at Universiti Tunku Abdul Rahman. After the VSS, I reviewed my financial position and realised I couldn't keep up with the previous payment amounts." Before restructuring her loan, Chong had struggled to make consistent payments. Some months I paid RM50, some months RM100. It was inconsistent, and it affected my CCRIS report." After consulting with PTPTN officers, she managed to restructure her loan to a level she could afford. "They were helpful and guided me through it. It's a relief to know what I need to pay each month, and I no longer feel overwhelmed by the debt." Like Suhazlin, Chong sees repayment not only as a financial obligation but a moral one. "If we don't repay now, we'll still have to do it later but maybe with consequences. More importantly, other students need this money to pursue their education. "Some people think they can ignore it, but it's better to face it head-on. PTPTN has made it easier. They understood our situation and gave us a second chance to do the right things." Both Suhazlin and Chong agree that PTPTN's initiative is timely and crucial in today's economic climate. "Not every loan agency offers this kind of flexibility. It shows that PTPTN cares more about helping us borrowers than punishing us for falling behind," Suhazlin said. PTPTN introduced its loan restructuring to help borrowers who are struggling with repayment due to financial hardship. Under the #BolehBincang initiative, borrowers can revise their repayment schedule based on current income and commitments, making it easier for them to make repayments consistently and manage their finances more effectively. To initiate loan restructuring discussions and access information, download the myPTPTN app. Borrowers can also explore PTPTN's restructuring options by contacting PTPTN Careline at 03-2193 3000 or via Live Chat on the PTPTN portal at
Daily Express
4 days ago
- Business
- Daily Express
RM689 million in Sabah SSPN deposits
Published on: Sunday, July 27, 2025 Published on: Sun, Jul 27, 2025 By: Cynthia D Baga Text Size: 'Education funds such as the National Education Savings Scheme (Simpan SSPN) play an important role in ensuring access to education is not affected by financial constraints," Mustapha said. Kota Kinabalu: Sabah has so far received National Education Savings Scheme (SSPN) deposits amounting to RM689.84 million, with more than 500,000 accounts opened since it was introduced in 2004 up to June 30 this year. Deputy Minister of Higher Education, Datuk Mustapha Sakmud, said this is a proud achievement and proof that the support of Simpan SSPN depositors remains strong. 'I have been informed that since 2004 the National Higher Education Fund Corporation (PTPTN) has focused on the mission of encouraging savings to reduce society's dependence on loans. Alhamdulillah, over more than two decades, Simpan SSPN has continued to record sustainable performance every year and gained the confidence and trust of the public. 'I hope that Simpan SSPN will become the best choice for parents to save consistently for a guaranteed future in education. 'Take the opportunity today to start saving with Simpan SSPN, which offers various benefits and privileges. Savings for education is a form of long-term investment that ensures the future of children. 'The development of the country's education does not only depend on the provision of infrastructure and quality educators, but also requires strong support from the aspect of effective financial planning. 'Education funds such as the National Education Savings Scheme (Simpan SSPN) play an important role in ensuring access to education is not affected by financial constraints," he said at the Anak Warisan Simpan SSPN 2025 carnival (Kawan) organised by PTPTN, Saturday, at the Exhibition Hall in Complex Karamunsing. According to Mustapha, since 2022 until June this year, about RM77.01 million had been allocated by the State Government through the Deputy State Secretary Office (Special Duties) for incentives for programmes such as Bistari, Budi and Bakti. 'It includes contributions in the form of Simpan SSPN accounts for several programmes, namely the Birth Incentive under the State Education Fund Compassionate Assistance (Bistari) with an allocation of RM4.12 million. 'This incentive targets babies born in Sabah with a contribution of RM100. 'In 2025, this assistance will also be extended to Year 1 pupils in primary schools, with an estimated 25,000 students set to receive this contribution. 'The One-Off Cash Assistance for IPT Registration (Budi) with an allocation of RM49.89 million is to help Sabahan students from the B40 and M40 groups who have received offers to further their studies at local and international higher learning institutions, with a contribution of RM1,500 for Foundation/Matriculation/Diploma-level programmes and RM2,000 for Degree-level programmes, and the Special Examination Cash Assistance Incentive (Bakti) with an allocation of RM23 million. 'This assistance is given to students from the B40 group who will be sitting for major examinations such as SPM, STPM and STAM, with a contribution of RM200. 'Therefore, I urge the State Government, government agencies and the private sectors to make Simpan SSPN the main choice for providing incentives to employees, students and others,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
5 days ago
- Business
- New Straits Times
Make SSPN primary incentive scheme for staff, students
KOTA KINABALU: State governments and public and private agencies are encouraged to prioritise the National Education Savings Scheme (Simpan SSPN) as the main option for incentives to employees and students. Deputy Higher Education Minister Datuk Mustapha Sakmud said Simpan SSPN, managed by the National Higher Education Fund Corporation (PTPTN), is crucial in ensuring access to education is not hindered by financial constraints. "Since 2004, PTPTN has focused on promoting savings to reduce dependence on loans. Over two decades, Simpan SSPN has maintained strong performance each year and gained public trust," he said when officiating the Simpan SSPN Heritage Children's Carnival (KAWAN) 2025 here today. Mustapha said total deposits under Simpan SSPN reached RM21.93 billion across 6.98 million accounts as of June 30, a milestone reflecting consistent support since its launch in 2004. He urged parents to consider Simpan SSPN as the preferred savings vehicle to secure their children's education. "Saving for education is a long-term investment that ensures our children's future," he said, adding deposits in Sabah alone amounted to RM689.84 million from more than 500,000 accounts. Regarding KAWAN 2025, Mustapha described it as a progressive initiative to foster a savings culture among the younger generation while promoting creativity and appreciation of cultural heritage. He also encouraged parents to leverage the programme as financial preparation for their children's pursuit of higher education. Meanwhile, PTPTN chairman Datuk Seri Norliza Abdul Rahim said depositors enjoy various benefits under Simpan SSPN, including income tax relief of up to RM8,000 annually. "Benefits include takaful protection for depositors, free matching grants of up to RM10,000 per eligible family and competitive, shariah-compliant dividend rates," she said. PTPTN also thanked the Sabah government for providing incentives to the state's residents. Norliza said KAWAN 2025, held simultaneously across 14 states, demonstrates PTPTN's commitment to raising awareness of education's importance and instilling values such as thrift and family resilience to build a harmonious MADANI generation. Earlier today, about 1,000 participants of various ages joined the PTPTN and Sabah Community Run 2025, part of community engagement and healthy lifestyle activities. – BERNAMA
Barnama
5 days ago
- Business
- Barnama
Make SSPN Primary Incentive Scheme For Staff, Students
KOTA KINABALU, July 26 (Bernama) -- State governments and public and private agencies are encouraged to prioritise the National Education Savings Scheme (Simpan SSPN) as the main option for incentives to employees and students. Deputy Higher Education Minister Datuk Mustapha Sakmud said Simpan SSPN, managed by the National Higher Education Fund Corporation (PTPTN), is crucial in ensuring access to education is not hindered by financial constraints. 'Since 2004, PTPTN has focused on promoting savings to reduce dependence on loans. Over two decades, Simpan SSPN has maintained strong performance each year and gained public trust,' he said when officiating the Simpan SSPN Heritage Children's Carnival (KAWAN) 2025 here today. Mustapha said total deposits under Simpan SSPN reached RM21.93 billion across 6.98 million accounts as of June 30, a milestone reflecting consistent support since its launch in 2004. He urged parents to consider Simpan SSPN as the preferred savings vehicle to secure their children's education. 'Saving for education is a long-term investment that ensures our children's future,' he said, adding deposits in Sabah alone amounted to RM689.84 million from more than 500,000 accounts. Regarding KAWAN 2025, Mustapha described it as a progressive initiative to foster a savings culture among the younger generation while promoting creativity and appreciation of cultural heritage. He also encouraged parents to leverage the programme as financial preparation for their children's pursuit of higher education. Meanwhile, PTPTN chairman Datuk Seri Norliza Abdul Rahim said depositors enjoy various benefits under Simpan SSPN, including income tax relief of up to RM8,000 annually.
The Sun
09-07-2025
- General
- The Sun
Single mother uses daughter's PTPTN loan for survival in Dungun
DUNGUN: A single mother facing severe financial hardship has turned to her daughter's National Higher Education Fund Corporation (PTPTN) loan to afford basic necessities. Zailawati Ismail, 41, from Felda Jerangau, shared her struggles after her husband died two years ago in a workplace accident. With chronic endometriosis limiting her ability to work, Zailawati depends on the PTPTN loan taken by her eldest daughter, Nur Aina Najiha Ramli, 19, a private college student in Kuantan. The funds help cover food, transport to medical appointments, and daily essentials. 'I can't do heavy work due to my condition. We often eat just rice with soy sauce because we can't afford more,' she said. The family survives on RM400 monthly aid from the Social Welfare Department, which falls short of their needs. Her 16-year-old son, Mohd Aiman Haikal, helps by doing odd jobs after school. Recently, her youngest daughter, Nur Alia Batrisya, 12, broke her leg in a netball accident, adding to their struggles. Those wishing to assist can contact Zailawati at 013-9332122. - Bernama
