Despite RM45bil bad debt, PTPTN doing it the 'nice way'
PTPTN has been quite nice in its debt collection... and still reluctant to emulate banks in debt collection, says CEO Agos Cholan.
Dirty data behind PTPTN's mountain of debt
As politicians butt heads over the possibility of providing free tertiary education in Malaysia, the mountain of debt owed to the National Higher Education Loan Fund (PTPTN) is unlikely to be recovered soon.
Sources close to the agency claim that this is because much of the RM45.41 billion loans approved as at Aug 31, 2012, were given out to students whom PTPTN can no longer trace.
Electronic data sitting in its 10-year-old Education Loan Management System (Elmas), sources claim, remain seriously outdated, leaving PTPTN little hopes of retrieving the unpaid debt...
Classic "Esok Lusa, tidak apa" attitude. It is the rakyat's money they are managing negligently.