Has anyone ever wonder what happen to the said implementation of 1% charges instead of 3% charges? I am extremely curious about it...
In the budget 2010 mentioned earlier on, there's no update or anything at all about the service charge. Well, for others it may not be important. For me, this is extremely important!!
Let me put it in calculation. If a person borrowed total loan of 50K, this means the charges per year would be 50,000 * 0.03 = RM1,500. But if it is 1%, the service charge is RM500! Do you see how much the difference is?
Normally, I would pay more than my minimum amount but 1/7 of the amount goes to the service charge. I've calculate and it takes me another 4 years to pay off everything. But if the charges is reduce from 3% to 1%, I'll only need 2 years MAX!!
Not everyone is as lucky as those lucky one, to be able to get into local uni. Due to my own anger and disatisfaction, I chose not to go Form 6 (which seems to be the only way to local uni). Local uni rejected me even I get very good points in SPM. So, there's only 3 choice; study abroad, Swinburne and another one in Miri.
Study abroad is way too expensive for me and I'm the homesick type of gal. So, either Swinburne or Miri. At last I choose to go Miri and ended up with huge fees with expensive books. Homesick + etc, I repeat few subjects. Thanks to PTPTN, I manage to complete my BSc and graduate with 2 friends (our group is very small).
OK back to the story. My point is, not everyone will end up in local uni with minimal charges compared with private institutions. PTPTN or other scholarship is suppose to help us, not burden us, both now or future.
I hope there will be news of this 1% soon. At the moment, I'll just take it as forgotten...
Not only that, PTPTN loan repayment is not tax relief. Let me put into another scenario; Both A and B have the salary of 3K and is elligible to pay tax. A had to pay for PTPTN, with minimum amount of RM300. Even both A and B has the same salary, but A actually have less amount to spend, compare with B. Since PTPTN is sort of government, why is it not suggested to be tax relief? This can actually encourage those who loan for PTPTN paid up their loans.
Anyway, it's just another nonsense from DD ....