16th August, 2012
TEMERLOH: The National Higher Education Fund Corporation (PTPTN) has no plans to drop the one per cent administration fee imposed on borrowers.
Chairman Datuk Ismail Mohamed Said said the administration fee was still relevant, reasonable and low compared with the 4 per cent previously imposed by PTPTN.
“It is lower than the fees charged by banks and financial institutions,” he told reporters after presenting contributions to orphans, the poor, elderly, mosque committee members and officials of Kuala Krau parliamentary constituency at Masjid Rumpun Makmur here yesterday.
Since its inception 14 years ago, PTPTN had given loans to 1.94 million students pursuing studies locally and abroad involving the provision of over RM44 billion.
About 70 per cent of the borrowers had settled the loans after PTPTN compromised and persuaded them to pay up.
Ismail who is also Kuala Krau Member of Parliament said PTPTN will open a branch in each state by year end to serve the students and public.