PTPTN allocates RM6bil for student loans

MARAN: The National Higher Education Fund Corporation (PTPTN) has allocated RM6bil in funds this year, to benefit 235,000 students in both public and private institutions of higher learning.Its chairman Datuk Ismail Mohamed Said said the allocation was part of the Government's continued efforts to achieve a highly-educated nation.Since 2007, he said, PTPTN had been increasing the allocations from RM2bil to RM6 bil gradually, to enable students to focus on their studies.He was speaking to reporters after a PTPTN loan advance ceremony held at the University Technology Mara here Wednesday Since 1997, the corporation has handed out loans to 1.73 million students, totalling RM38.38bil.On loan recovery, Ismail said a mere RM600mil was recovered from "blacklisted" loan defaulters.He said that since last year, the defaulters were barred from leaving the country, adding there were still 228,000 defaulters who stubbornly refused to settle a whopping RM2.5bil in loans.