Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) Repayment

Most students taking up degree courses in Malaysia would most likely take up this government loan. Yours truly is no different from "most students". With this loan, I didn't have to burden my parents to pay for my university educational fees.

Back in 1999, when I first entered pre-university in Multimedia University (MMU), PTPTN offered me this loan. The terms were RM66000 for the whole duration of my course, with repayment of rm396 for 25 years after course completion at an interest rate of 4% per annum. In 1999, 4% interest charged was a very good deal as bank's fixed deposits were giving 9 - 10% interests rates. Current 2010 bank's fixed deposit rates are at 3-4%, and PTPTN came up with a new interest rate of 1%, which is good in my opinion.

My tale of despair which prompted me post about this today is also partially due to my lack of urgency to re-pay back this loan. PTPTN started charging me interests since year 2004, my graduation year. It was roughly an interest of RM160/month. Guess what, it's 2010 now ! 6 years of accumulated interests and you can guess how screwed I am. Yes, I did pay sporadically, every 4 to 5 months I would bank in around rm400. But that isn't really enough to cover the interest charged.

After a quick check at the PTPTN website, , I now owe the government RM 75479.74! I only borrowed RM 66000 for my course.

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My latest PTPTN statement, retrieved from

How many of you have gone through this? I'm feeling rather depressed now, and the worse part is, I know it was due to my own doing. If only I had been doing regular payments over the years, I wouldn't end up in this situation. Let's just pray I hit the lottery in the near future! In the meantime, I'll just have to play the part of a good citizen and pay up promptly every month.


Anonymous said...

Hi, the new interest rate sounds good.. but apparently with that 1% interest rate, you cant pay occasionally, it'll be fixed by them and you will have to pay through LHDN. late payment will incur you another 1%.

Isaac Tan said...

Hmm, I guess that is good in a sense. At least it'll force ppl like me to pay back on time every month :)

Anonymous said...

how do you apply to change it to 1%?by online or sending them a lot of materials?

Matt Siow said...

Good role model.. I also having the PTPTN loan now :D

Isaac Tan said...

Anonymous: I had to send them a bunch of materials, and get it stamped at duty office, very troublesome.

Medzelder: Not really, if I was a good model citizen, I wouldn't have owed PTPTN so much now.