M'sian compares PTPTN to USA student loans, says PTPTN is great

“Any school leavers planning to go to Uni and planning to take up PTPTN, please don’t take the assistance for granted.”

A Malaysian netizen has sparked discussion online after sharing a post on r/Bolehland highlighting the shocking scale of American student loans.

The Redditpost detailed an American student who took out a $28,000 student loan and after 16 years and $38,000 paid, her balance was $58,000 which meant she has to pay $68,000 in interest.

By comparison, Malaysia’s PTPTN loans are subject to a flat 1% interest rate, or a syariah-compliant ujrah fee to cover administrative and management costs.

“Malaysia’s PTPTN is great. I never applied for PTPTN, but many people around me have. USA student loan is crazy,” wrote the Reddit user.

Necessary-Writing-42 commented:“Any school leavers planning to go to Uni and planning to take up PTPTN, please don’t take the assistance for granted. For those that have graduated, working/own a business please pay the fuck up.”

LoneWanzerPilot shared their personal experience:“Yeah I am so glad for PTPTN. Parents can’t afford to fully pay for my education. Miss payment every Christmas and CNY, no harassment by them. Took a course that lands me my iron rice bowl govt job. I paid it all back in 5 years.”

Meanwhile, Monsta_Owl reminded users of the moral responsibility of repaying loans:“Yang x bayar tu. Remember this. You’re taking the opportunity that was given to you from another person down the line. Pay up and be a decent human being.”

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