In Budget 2010 announced on 23 Oct 2009, graduates who pass with first class honor will have their PTPTN loan waived. First class honor graduates do not need to pay back the loan again.
Good Debt Vs Bad Debt
If you are Rich Dad series fans, you should have understand and differentiate between Good Debt and Bad Debt. In short and simple explanation, good debt make you richer while bad debt make you poorer.
Good debt is debt which help you get into debt at the same time help you expand your wealth. You use debt to acquire asset which bring passive income in future. Most well known example of good debt is acquire property for rent. Your debt is paid by your tenant.
PTPTN Repayment
PTPTN (Perbadanan Tabung Pengajian Tinggi Nasional) is a government loan to all Malaysian that wish to forward tertiary education. I had loan RM21k from PTPTN with RM3500 each semester. Honestly, PTPTN ease my life a lot during uni times although the loan for each semester is just BARELY enough. I have to bare with KL entertainment lifestyle. I’m not going into detail how you spend the money.
Recently, I had checked the PTPTN website to get some information of repayment. Sadly, the admin fee aka interest charge stated is still 3%. Isn’t the admin fee had adjusted to 1% start from January 2009 which postpone from June 2008 already? ..!..
