KUALA LUMPUR: The National Higher Education Fund Corporation (PTPTN) has launched its first-ever loan restructuring campaign, offering borrowers minimum payments of RM300 to encourage them to settle their arrears.
PTPTN said the two-month campaign from June 1 to July 31 is open to all borrowers with arrears, whether they have conventional or Ujrah (monthly service charge) loans.
“Borrowers need to make a minimum of RM300 in overdue payments, and are required to set up salary deductions or direct debit as their repayment method to ensure consistent and organised repayments.
“During this campaign, borrowers can also negotiate other repayment options, such as switching to Ujrah, loan consolidation, and rescheduling,” it said in a statement.
PTPTN chairman Norliza Abdul Rahim said the loan restructuring campaign would help reduce and achieve zero arrears, improving borrowers’ credit ratings.