|
Question 1:
What is the procedure to cancel my loan?
Answer:
Please complete the Loan Cancellation Form which can be obtained from the Student Affairs Division or downloaded from the PTPTN website or send an official letter applying for cancellation of loan. For those who have found other sponsors, please enclose a copy of the offer letter.
Question 2:
I have received a notice of claim of the total loan amount within 30 days. Can I defer the repayment?
Answer:
Borrowers who have failed, discontinued, changed course or obtained other sponsors may not defer repayment as deferment is only for those who are continuing their studies or unemployed.
Borrowers who apply for deferment because they are still studying need to send an official application together with the new offer letter which has been certified by a government officer of the Management/Professional Group.
Application for deferment by an unemployed borrower must be accompanied by the EPF contribution/confirmation statement.
Borrowers who cancel the loan because of obtaining another sponsor must apply for deferment by enclosing the offer letter from the new sponsor which has been certified by a government officer of the Management/Professional Group.
Question 3:
I have received a notice of claim for the total loan amount within 30 days. Can I settle in instalments?
Answer:
Borrowers who have failed, discontinued, changed course or obtained other sponsors have to pay lump-sum. Installments method is not allowed.
Question 4:
Can I repay my loan through salary deduction or PTPTN collection agents?
Answer:
Borrowers can make loan repayment by salary deductions or other available methods of payment. Repayment by salary deduction can be made by sending an official letter or e-mail to upkb@ptptn.gov.my. Please provide details about your name, identity card no, employer, i.e. name, address and telephone number. You will receive a copy of the salary deduction instructions from the IRB to your employer. IRB will take 1- months to implement repayment by salary deduction. Meanwhile, you can make your own repayment using other methods to avoid instalment arrears.
Question 5:
I have cancelled my loan with PTPTN and wish to obtain sponsorship from another sponsor but the sponsor requires a letter of release from PTPTN. How can I obtain this letter?
Answer:
The borrower must send an official letter by post, facsimile or personally going to PTPTN to obtain a conditional release letter.
Question 6:
I have cancelled my loan with PTPTN. Can I reapply for a loan as I wish to continue my studies?
Answer:
You can, on condition you do not owe PTPTN anything. If the borrower still has debts, he must settle them before the second loan application can be considered.
Question 7:
If I settle all my debts, will I be given any letter to state that I have no debts?
Answer:
If the borrower has settled all the debts, PTPTN will issue a release letter which states that the borrower has already cleared all debts and is no longer bound to PTPTN.
Question 8:
Will administrative costs be charged?
Answer:
A 3% annual administrative cost will be imposed on the reducing balance after 60 days from the date of cancellation of the loan.
|
