Intriguing. Understanding bankruptcy, PTPTN borrowers and blacklisting.

If one borrows money, one MUST pay them. Especially when the repayment will help the future borrowers who may also need the assistance just like those before them. If you disagree with this thought, please skip this article. PTPTN borrowers who did not pay their loans are no longer blacklisted from travelling. In other words, they could SPEND MONEY to travel and need not pay their debts. If someone here wants to argue that but sometimes they are travelling for work, please skip this article now. If one is working, one should be paying. Else, it is ME who is paying through my tax money via the EPF’s never-ending loans to PTPTN. This cannot be lasting forever, right?
This is the reason I am writing this article today: FreeMalaysiaToday: Deputy minister: Unfair to blacklist loan defaulters  Deputy Education Minister Teo Nie Ching was saying that any labelling of National Higher Education Fund Corporation (PTPTN) loan defaulters as unfair. This is because every citizen has a right to freedom of movement. This was why the names of loan defaulters were removed from the Immigration Department’s blacklist. She said, “If you look at those who take bank loans, their names will not be placed on the Immigration Department’s blacklist if they stop paying or are inconsistent in their repayments. Their names will only be blacklisted after they are declared bankrupt.” Teo said in future, the government would first declare PTPTN loan defaulters as bankrupts before putting them on the Immigration blacklist. The article again for reference. 
One will be a bankrupt only if the amount is RM50,000 or higher. I am not SURE how much one would owe the PTPTN… One day in the future, when Malaysians are so mature that they know that debts must be paid, I think we do not need any ‘actions’ to recover the debts. As of now, with the way the things are going, I think PTPTN will either have to lend to fewer borrowers, limit the amount per borrower or go to the government to get more money which OUR EPF will then have to ‘help.’ There’s already a drop in PTPTN repayments. Article in TheStar here.  By the way, home loan defaulters do not eat up my tax money because this is the matter between the bank and the borrower. The banks will take appropriate actions. PTPTN does not have as much resources nor the flexibility as the banks. This is why it has to operate differently. When it concerns my tax money, I too have a right of expression. Hopefully, PTPTN would have more solutions soon on how to get people who could afford to pay, pay. Happy implementing it.
written on 23 July 2018
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