PETALING JAYA: National Higher Education Fund (PTPTN) borrowers said they would rather stick to monthly payments then taking up the latest Budget 2023’ incentives.
Owing to the financial position they are in, coupled with the fear of an economic downturn “just around the corner”, borrowers said even though they might make extra money, they would rather use it to top up their daily expenses to try and deal with the high costs of living and uncertain economic situation, The Malaysian Insight reports.
Private sector worker Aishah Ghani said the incentive was very attractive and she was keen, but lamented that her savings were insufficient.
“It’s so unfortunate. I just don’t have enough money saved on my current salary.
“I can’t afford to save as much as I want because of the rising cost of living and other mandatory financial commitments.
“My salary barely covers my monthly expenses,” the 27-year-old told the portal.
Meanwhile, borrower, Jamilah Hariz, 36, said she would not use her savings if she were to take up the incentive because she needed the savings for other financial matters.
The 20% discount for full settlement is effective from November 1 and ends on April 30 next year.
On top of that, the government also offered a 15% discount for settling 50% of the balance and 15% for payments made through salary deductions.
