Wednesday, May 6, 2009

PTPTN may face RM46b deficit by 2020

According to Bernama report yesterday, The National Higher Education Fund (PTPTN) may be saddled with a RM46 billion deficit by 2020, said Higher Education Minister Datuk Seri Mohamed Khaled Nordin.

He said a study was being carried out by the ministry to address the situation and the findings would be handed to the government when they were ready.

"The government will decide on the new format needed for PTPTN to cater to the needs of students," he told reporters today.

More and more money is being given out each and every year with the growing intakes every year. But the amount being returned is not growing, and so far, ways and method to get back the loan returns from graduated students have been fruitless.

In my own opinion, the ways currently being undertaken by the government are inefficient and waste of funds. They should have link up with Bank Negara of screening and monitoring those defaulters that are taking loans to purchase vehicle or properties so that the loan won't be approved unless they have settle their PTPTN loans. This is just one of the way, there are many much more effective ways such as blocking them from going overseas or even deducting the amount from defaulter's EPF account. All these are workable ways instead of complaining and coming up with useless ways that waste more money, time and efforts...

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