THE National Higher Education Fund Corporation (PTPTN) reported an outstanding loan amount of RM10.853 billion owed by 1.2 million borrowers in 2023.
According to the Auditor-General’s report series 1/2025, this is the highest outstanding amount recorded by the education fund, with the lowest being RM6.348 billion owed by 970,000 borrowers in 2018.
"PTPTN needs to review its education loan repayment collection mechanism and improve monitoring of education loan management," said AG Datuk Wan Suraya Wan Mohd Radhi.
"Overdue education loan repayments also show an increase from 2019 to 2023," she said following the tabling of the report in the Dewan Rakyat today.
The audit also found that the repayment trend against the outstanding reported between 2014 and 2023 was between 7.3% and 79.3%.
In its response to the audit findings, PTPTN said reminders have been issued to 25,257 defaulters as part of the enforcement actions.
Notices of Demand have also been sent on Nov 26 to 3580 borrowers as of Dec 14.
“Emails informing 10,388 defaulters on travel restrictions have been sent out since Dec 16,2024,” said PTPTN. – February 24, 2025
