Education loan takers told to declare debts
Posted on July 16, 2011, Saturday
KUCHING: The Public Service Department (JPA) has issued a circular to all federal officers in the country requiring them to declare any educational loan taken from either Perbadanan Tabung Pendidikan Tinggi Nasional Malaysia (PTPTN), Majlis Amanah Rakyat (MARA), financial institutions or other government foundations, to the department.
Sarawak Foundation assistant director of Legal and Repayment section Jolly Marikan revealed to The Borneo Post yesterday that JPA conducted this declaration exercise on June 3 to ensure that government officers disclose their debts and ensure they have a clean record in their department.
“The issuing of the circular will help the bodies that have provided loans to these officers and, for the Sarawak Foundation, this a good move as it helps the affected officers to be more aware of their financial obligations and to avoid default payment,” he said
Lending bodies such as the Sarawak Foundation will also be able to trace errant officers and thus help to expedite repayment for the good of future borrowers needing financial assistance to further their studies, he added.
Marikan also disclosed that more than 1000 officers in the state serving under the Chief Minister’s Department who had borrowed from Sarawak Foundation to further their studies had been identified and this had made their job easier when tracing them for repayment.
“The identified officers will be able to arrange for default payment as we can ask the government to deduct directly from their salary,” he said.
The Sarawak Foundation has also approached the State Islamic Department to do the same and to trace their officers who had taken loans from them.
Marikan said that all these exercises would help loan takers to settle their bad debts and the money would be used to help those needing financial support to study in the country or abroad.
“Till now, the Sarawak Foundation has managed to get 60 per cent of the money loaned from borrowers and we are happy about that,” he said.
“Those who failed to settle their payment will have their names published in the newspaper before they are brought to court and usually they will settle the matter out of court,” he added.
Marikan said that the Sarawak Foundation has been very flexible on the selected repayment method and are willing to help borrowers on how best to settle their loans to avoid default payment.
“We provide an open counter for those who want to walk in and pay, banking facilities and other methods, he said.
“It is important that borrowers try their best to settle their loan as others really need the funds to pursue their studies,” he added.
