KUALA LUMPUR (Bernama): A total of 1.67 million National Higher Education Fund Corporation (PTPTN) borrowers will benefit from the loan repayment discount incentive announced in Budget 2022 on Friday (Oct 29).

       Higher Education Minister Datuk Seri Dr Noraini Ahmad (pic) said the discount announced in Budget 2022 reflected the government's concern for the group.

       "I hope that with the discount incentive announced by the government, PTPTN borrowers can take the opportunity to repay their loans based on their repayment ability.

       "This indirectly would help in the continuity of the education loan, for the benefit of the next generation,” she said in a statement Friday.

       In his speech when tabling Budget 2022 at the Dewan Rakyat, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said that the government had agreed to offer the discounts for PTPTN borrowers, which will apply from Nov 1, 2021 to April 30, 2022.

       He said that the move covered a 15% discount on the balance of the loan for those who wish to make a full settlement, as well as a 12% discount for those who wish to settle at least 50% of their outstanding loan balance in one payment.

       A 10% discount would also be offered for those who wish to make the repayment through scheduled salary or debit deductions, he said. - Bernama