Only two out of the 2.8 million borrowers of the National Higher Education Fund Corporation (PTPTN) loans were declared bankrupt since the establishment of the institution in 1997.
Its chairman, Shamsul Anuar Nasarah, said the bankruptcy declaration had to be made after the borrowers failed to comply with the court decision.
Shamsul Anuar, who is also Umno Welfare Bureau chairman, said this fact had refuted the allegation made by some quarters, especially the opposition, that the PTPTN was a cruel institution as it had strong tendency to declare its errant borrowers as bankrupt.
In comparison to other financial institutions providing loans to students, PTPTN is the most flexible, lenient and easiest to negotiate with, he told the me…
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