Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) has clarified that the one percent charge which is imposed on their borrowers was merely for administrative usage and not interest as claimed by some.
They further elaborated that the one percent was used to finance the pay for their 2,000 strong staff nation while, and was in accordance to Islamic financial laws.
It was also made clear that the body is keen in meeting those whom have problems about PTPTN, and would prefer those dissatisfied to meet them personally rather than seek to do a protest in which talking and discussion was not possible.
The PTPTN also stressed that the loan was not issued to all Malaysians, in which only those eligible are offered the loan to help them pursue their education.
PTPTN is a soft loan given out to students intending to pursue their studies in tertiary institutions. The loan is said to be given to those who can’t afford such education with those excelling in able to convert the loan into scholarships.