2023 Budget: Further discounts on PTPTN partial, full loan repayments

By Hessa Kawthar

KUALA LUMPUR, 8 October 2022: The increment of the National Higher Education Fund Corporation (PTPTN) loan repayment discounts from 2022 Budget will be effective from 1 November 2022, until 30 April 2023, said Finance Minister, Datuk Seri Tengku Zafrul Abdul Aziz.

He announced that yesterday in the national budget for 2023, which saw an increase in rate to 20 percent discount for full loan repayment, 15 percent discount for half repayment, and 15 percent discount for auto-deduction from the scheduled salary.

“PTPTN discounts shall encourage the PTPTN borrowers to repay their loans”, he said.

Tengku Zafrul also asserted that first-class degree holders would receive an exemption from PTPTN loan repayment.

In addition, the PTPTN loan waiver for first-class degree graduates would also encourage the students to concentrate on their studies.

Previously, in 2022 Budget, the government had allocated discounts for PTPTN borrowers which had commenced on 1 November until 30 April 2022.

It saw 15 percent discount for the entire amount of the loan payment, 12 percent discount for partial payment, and 10 percent discount for auto-deduction from the scheduled salary offered in the previous national budget.

The PTPTN discounts were presented under the 2023 Budget in Dewan Rakyat yesterday with the theme, ‘Keluarga Malaysia, Prospering Together’, which is driven by the 3R agenda-Responsive, Responsible, and Reformist.***

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