PUTRAJAYA, March 23 — The federal government has announced a six-month repayment extension for the National Higher Education Fund (PTPTN) loan, amid the worsening Covid-19 pandemic.
Prime Minister Tan Sri Muhyiddin Yassin, in announcing the government's agreement to extend the repayment period from three months to six months, said the extension is effective today until September 30.
“The deferment of the loan repayment involves a total collection amounting to RM750 million and will benefit nearly 1.5 million PTPTN lenders,” he said in a special press conference at the Prime Minister’s Office here.
Muhyiddin said the move to defer the repayment period was only part of a wider initiative under a more comprehensive Economic Stimulus Package set to be announced on March 30.
“The Economic Action Council has today decided on several main initiatives which I hope will alleviate the burden faced by the people in these trying times.”
On March 19, PTPTN had announced a three-month deferment period decided by the federal government in light of the Covid-19 outbreak in the country.
The deferment announcement was first made by Senior Minister Ismail Sabri Yaakob, who is also the defence minister after chairing the Special Ministerial Committee on the movement control order (MCO).
