Friday, June 30, 2006

About RM5 Bil PTPTN Study Loans Still Pending, Says Razali

The National Higher Education Fund Corporation is a very good example of how NOT to run a corporation, department or agency. The sheer inefficiency of the staff of this cursed place is astounding. Such a noble and helpful aim of aiding students in need has been transformed into a traumatic and painful exercise by the corporation.

While it can get away with mistreating students by delaying crucial payments and claiming that application forms are incomplete or lost, it simply cannot deny the scandalously atrocious repayment history that is there for all to see. PTPTN has been unable or unwilling, due its terrible apathy, to collect RM5 billion ringgit! While the students share a large part of the blame, a lazy PTPTN only serves to encourage defaulters.

About RM5 billion study loans issued to students pursuing tertiary education have not been settled, National Higher Education Fund Corporation chairman Datuk Razali Ismail said Friday.

He said since the corporation was established, it had disbursed RM10.5 billion in study loans to students but only 49 per cent of them have paid up their dues.T he corporation would step up efforts to recover the money by sending reminders, publishing defaulters' names in the mass media and through court action, he said.

"The students should know their social and legal responsibilities to repay their loans," he told a press conference. Nonetheless, Razali said the borrowers' failure to settle their loans would not derail the corporation's duty to give loans to students from poor families as "this is a long-term investment by the Government to develop human capital."


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7:29 PM GMT+8  

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