PTPTPN

The New sservice fee for national Higer Education Corparation loans is now a falt rate of one percent, down from 3 to 5 percent.
In making the decision yesterday, the cabinet decided that effective June 1, the new rate would be extended to borrowers for all undergradute and postgraduate studies. They include all future and existing borrowers as well as those servicing their loans following the completion of their studies. Students applying for loans before the new system is implemented will have their applications processed and approved according to existing rates and an adjustment will be made later when the new system is developed by December.
In line with the change, Datuk Seri Mohamed Khaled Nordin says borrowers will receive new agreements by early 2009. they will then have one month to complete the new agreement and return them to PTPTN