The PTPTN loan is probably the most applied for loan that Malaysians opt for in pursuit of a tertiary education. Since it’s introduction wayyy back in 1997, it has provided loans to about 2 million Malaysian students seeking to further their tertiary education. So you apply, get your loan and finish study liao. Now it’s time for you to pay back your loans!
Source: imoney.my
As easy as it is to get your loans (and use it!), it’s even easier to land yourself on the blacklist. The implications of being blacklisted include:
- having a travel ban imposed
- affecting your ability to apply for loans! Say goodbye to getting your own car or house.
To help all you PTPTN borrowers out there, we find out what are the terms that’ll actually get you blacklisted.
So how do you actually get blacklisted?
- A schedule (Jadual Bayaran Balik) of their repayment scheme will be issued to you 6 months after you finish you studies.
- However, in the latest announcements for Budget 2018, the grace period of non-repayment has increased from 6 months to 12 months instead! Take note guys!
- PTPTN will issue 3 warning letters in total
- If you still haven’t paid after the 3rd warning letter, you’ll receive a Notice of Demand (NOD)
- Upon the NOD being issued, that’s when you KENA BLACKLISTED! This could happen anywhere between 4-6 months, depending on the amount of your outstanding repayments.
But I pay also still kena blacklist?!
Well, it might take months for these letters to be issued, so there is no guarantee that you won’t be blacklisted even if you don’t receive the letters. There have been cases whereby defaulters have checked their status prior to planning trips abroad only to find out on the day of travel that they’ve been put on the blacklist.
It also depends on how often you make your payments. If you go months without settling any outstanding amounts, of course la will kena even if you’ve made prior payments.
So better to be safe than sorry and make your payments on time!
Source: CikLaili
If I’m blacklisted, what do I do?
a) The best way to get yourself off the blacklist is of course, to make the full payment of the amount you owe.
Plus, our beloved PM Najib has announced that a 20% discount will be given to defaulters who make a full settlement of their outstanding amounts by 31 Dec 2018, as part of the Budget 2018,
b) If, however, you’re unable to settle the outstanding payments, defaulters can make an appeal to the the PTPTN department to clear their name. A guideline on how to go about the appeals process can be found on the PTPTN website. Do take note, however, that this might still come with a certain amount of repayment to be settled.
The best way to ensure your name is cleared from the blacklist? Pay your loans consistently to avoid getting on it altogether lah!
Also read: 580,000 PTPTN Borrowers Blacklisted from Travelling, Here’s How You Check if You Are Too
