Putrajaya aborts plan to put PTPTN defaulters on bad credit list

Putrajaya agreed today to shelve the proposal to list PTPTN defaulters on Bank Negara’s bad credit list, bowing to widespread criticisms that the move would only add further strain on the livelihoods of Malaysia’s young graduates.

Youth and Sports Minister Khairy Jamaluddin confirmed the decision via his Facebook and Twitter accounts, saying Cabinet rejected the proposal during its weekly meeting this morning.

“Baru selesai mesyuarat Jemaah Menteri. Alhamdulillah, PTPTN tidak akan meneruskan cadangan untuk menyenaraikan peminjam dibawah CCRIS. Terima kasih pada PM & Menteri-menteri Pendidikan kerana mendengar suara-suara orang muda,” he wrote on Facebook.

[Translation: Just finished Cabinet meeting. Alhamdulillah, PTPTN will not proceed with the proposal to list borrowers on CCRIS. Thank you to PM and the ministers of Education for listening to the voices of the youths.]

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PTPTN raises RM2.5b through Islamic bond sale

Malaysia’s National Higher Education Corporation (PTPTN) has sold RM2.5 billion of government-guaranteed Islamic debt, reported Bloomberg today, as it looks for financing to provide more loans to a growing number of eligible students entering university.

The financial newswire said that the 10-year fixed income securities was privately placed and offered a yield of 3.83 per cent.

DPM: Temporary PTPTN loan freeze to Unisel students is fair

The decision to temporarily freeze PTPTN loans to Universiti Selangor (Unisel) students temporarily is fair, said Deputy Prime Minister Tan Sri Muhyiddin Yassin on Thursday.

Muhyiddin said Higher Education Minister Datuk Seri Khaled Nordin's decision to stall PTPTN loans at the Selangor government-owned university was to test if Selangor was capable of providing free education as claimed.