Recently I've just fully settled the PTPTN (Perbadanan Tabung Pendidikan Tinggi Nasional) - the education loan in Malaysia to enjoy the 20% discount that was tabled by the Prime Minister of Malaysia last October on Budget 2013. The 20% discount still valid until this October.
There are few reasons I settled the PTPTN loan, the main reason definitely to enjoy the 20% discount, although some might argue that if the Opposition take over, we might get it waive 100%, in which I will not want to go to that. In my opinion and my second reason to settle the loan, I would think that we should repay the institution what we have borrowed, so that our children will continue to have the benefit of getting low interest loan for education; which again many will argue we should be getting education for free - again, I will not go into that.
Well, for those who intended to enjoy the 20% discount and to settle the PTPTN loan once and for all, the following is the step by step on how to do so.
1. Go this website: http://eform.ptptn.gov.my/borang-digital/sahbaki.cfm. After obtain the form, attach and and email to the one of the department in PTPTN firstname.lastname@example.org. stating your name and identification number and the loan reference number to get the balance as of the email date with the intention of full settlement of the PTPTN loan according to Budget 2013 to enjoy the 20% discount; and within the next working day, one should be receiving the email from a representatives from PTPTN regarding the balance as of the email date, as well as the full settlement amount with the 20% discount.
|Example of the attachment regarding the full settlement with 20% discount|
2. Print out the attachment with the PTPTN full settlement details; it is a PDF file - the naming convention of the PDF supposedly be something like USERNAME
2. Go to any of the bank and issue a bank draft or banker's cheque with the stated amount. (It's just unfortunate that the PTPTN offices will not be accepting credit card as payment, else, I can give this step a go)
|Bank draft/banker's cheque sample|
3. Go to any of the nearest PTPTN office and give the bank draft or the banker's cheque together with the printed attachment and pass everything to the officer and the officer will do the rest.
4. Wait a while for the full settlement letter to be issued by the officer to you and voila, you have just settled the PTPTN loan. When you check the loan balance online, you might still see the 20%, but it will be totally removed after 7-14 working days.
|Full settlement letter|