The scheduled salary deduction scheme or the Income-Contingent Loan Repayment scheme for National Higher Education Fund Corporation (PTPTN) borrowers has been suspended.
Making the announcement via his Twitter account, Education Minister Dr Maszlee Malik said the scheme, announced by PTPTN chairman Wan Saiful Wan Jan on Wednesday, is suspended for the time being until they “receive collective inputs and feedback from all stakeholders”.
The scheme has courted criticism since it was announced, mainly from borrowers who will have to pay more according to the percentages set by the scheme as opposed to the amount they have been been paying according to previous agreements made with the corporation.
With a Cabinet meeting taking place today, it was earlier said this matter would be raised following the backlash.
The ICLR PTPTN repayment scheme will be suspended for the time being until we receive the collective inputs and feedback from all stakeholders.
— Maszlee Malik 🏴🇲🇾 (@maszlee) December 7, 2018