I GRADUATED in 1992 with a degree in law from a UK-based institution of higher learning. At that time with the introduction of 2+1 twinning programs, it became a little more affordable to obtain a degree from the UK as one could complete two years of study at home and later go abroad to complete the final year. Many benefited from this fantastic arrangement.
Even then, I remember the hard work that my father had to put in to ensure that I had the required financing not only for my course but also living expenses. Not only me but many other course mates were in similar predicaments to the extent that some had to work part-time to support themselves. Unfortunately for us, it was not easy to obtain education loans from financial institutions as the eligibility requirements were strict and many of us could not fulfil them.
Understanding this predicament, the government in 1997 introduced the National Higher Education Fund Corporation or more commonly known as PTPTN to help those who were unable to raise funds to acquire quality education. PTPTN began offering loans for studies from diploma to PhD level, which was absolutely great.
To make it easier and affordable, borrowers are only required to start repaying after 12 months of completing their studies during which they are expected to secure employment. Since its introduction until the present, thousands have benefited from the facilities made available by the PTPTN.
While the government discharged its social responsibility, borrowers were equally expected to do the same by responsibly repaying their loans, money from which would be later channelled to other deserving applicants but unfortunately this did not happen as many, even those who are able to repay, defaulted.
According to media reports, it is sad to note that as of May 2018, there were 433,709 on the default list who were subsequently blacklisted from travelling abroad. Travel blacklist is one of the many effective methods to force loan defaulters to pay up but sadly the new Minister of Education has thought otherwise when he recently decided to remove these names, allowing defaulters to freely travel abroad. I believe that if the minister had the power to remove the bank's defaulter blacklist, he would have probably done so.
This decision is expected to increase the popularity of both the minister and the government, but the question remains if it was the right thing to do, at a time when the finance minister holds press conferences one after another, highlighting the debt situation of the country and incidences of financial scandals and corruption.
It is difficult to comprehend that on one hand the government decides to legitimise a tax-free hope fund but on another, loan defaulters are eased from their obligation to repay. I am sure that if a person is able to travel, surely he or she should be responsible enough to fulfil their loan repayment obligations.
While many rejoiced on Pakatan Harapan's election victory, expecting transparency, accountability and good governance when managing the country moving forward, shouldn't we hold ourselves accountable for our own actions?
If we want to see a brighter future, it is important that we begin by changing our own behaviour, be responsible for our own actions, as the change begins with us.
Darshan Singh Dhillon
Kuala Lumpur
Even then, I remember the hard work that my father had to put in to ensure that I had the required financing not only for my course but also living expenses. Not only me but many other course mates were in similar predicaments to the extent that some had to work part-time to support themselves. Unfortunately for us, it was not easy to obtain education loans from financial institutions as the eligibility requirements were strict and many of us could not fulfil them.
Understanding this predicament, the government in 1997 introduced the National Higher Education Fund Corporation or more commonly known as PTPTN to help those who were unable to raise funds to acquire quality education. PTPTN began offering loans for studies from diploma to PhD level, which was absolutely great.
To make it easier and affordable, borrowers are only required to start repaying after 12 months of completing their studies during which they are expected to secure employment. Since its introduction until the present, thousands have benefited from the facilities made available by the PTPTN.
While the government discharged its social responsibility, borrowers were equally expected to do the same by responsibly repaying their loans, money from which would be later channelled to other deserving applicants but unfortunately this did not happen as many, even those who are able to repay, defaulted.
According to media reports, it is sad to note that as of May 2018, there were 433,709 on the default list who were subsequently blacklisted from travelling abroad. Travel blacklist is one of the many effective methods to force loan defaulters to pay up but sadly the new Minister of Education has thought otherwise when he recently decided to remove these names, allowing defaulters to freely travel abroad. I believe that if the minister had the power to remove the bank's defaulter blacklist, he would have probably done so.
This decision is expected to increase the popularity of both the minister and the government, but the question remains if it was the right thing to do, at a time when the finance minister holds press conferences one after another, highlighting the debt situation of the country and incidences of financial scandals and corruption.
It is difficult to comprehend that on one hand the government decides to legitimise a tax-free hope fund but on another, loan defaulters are eased from their obligation to repay. I am sure that if a person is able to travel, surely he or she should be responsible enough to fulfil their loan repayment obligations.
While many rejoiced on Pakatan Harapan's election victory, expecting transparency, accountability and good governance when managing the country moving forward, shouldn't we hold ourselves accountable for our own actions?
If we want to see a brighter future, it is important that we begin by changing our own behaviour, be responsible for our own actions, as the change begins with us.
Darshan Singh Dhillon
Kuala Lumpur