NHECF Loan Defaulters Beware. You'll Be Getting Home Visits Soon!

All of you habitual defaulters who have used the privilege of obtaining easy study loans, have since graduated and earning reasonably well and yet refuse to pay up, be prepared. Open season has been declared on your sorry rear and you bloody well deserve it.

Students who have taken study loans from the National Higher Education Fund Corporation, take note.

Officers from the corporation will come knocking on your door if you have not been making any repayments despite their numerous reminders.

The corporation's chairman, Datuk Razali Ismail, said more than 30,400 borrowers had defaulted on their payments, which had accumulated to an estimated RM600mil.

Razali said the list of defaulters had been submitted to the corporation's panel of lawyers, who would follow up with legal action.

“We have given them (the borrowers) ample time to settle their loans but there had only been a lukewarm response.

It is appropriate for us to take drastic action against these errant students,” Razali, who is Kuala Terengganu MP, said when interviewed here.

He said the defaulters would be given a 14-day notice to respond when corporation officers visit them to issue demand letters, failing which a second legal note will follow.

“Those who continue to be stubborn will face our lawyers in court,” he said, adding that the corporation had been patient and had only been sending them reminders and appeals to settle the dues.

“We have to recover the loans to help other deserving cases,” he said.

Razali said more than 800,000 students had received loans amounting to RM15bil, adding that on a positive note 40% had paid back their dues.

“We forecast our collection figure on bad loans will increase next year. Hopefully, we could see 70% of them paying back their loans.” (TheStar)