A lot of us have taken paycuts or worse, lost our jobs as companies look to downsize.
If you're one of those whose income was affected by the pandemic, don't worry; the National Higher Education Fund Corporation (PTPTN) is here to help - well, sort of.
Applications are open now
PTPTN announced on Monday (4 January) that they are allowing borrowers to extend the repayment period of their study loans.
Its chief executive officer Ahmad Dasuki Abdul Majid told Bernama that the application to have your study loan repayment period extended starts tomorrow (Wednesday, 6 January) until 31 March.
Those whose income has been affected by the pandemic are eligible to apply, Ahmad Dasuki said.
“Borrowers who are eligible are those who lost their income because they were retrenched or affected by reduced income," he was quoted as saying.
Once approved, borrowers will be given a three-month extension to repay their loans.
“The extension for a three-month period will begin the same month approval on the application is given by PTPTN and the following two months, between January until May 2021,” Ahmad Dasuki added.
How to apply
If you think that you need an extension, the application process is pretty straight-forward:
1) Head on over to this website: www.ptptn.gov.my/PelanjutanBayaranBalikCovid19
2) Fill in your personal info and update your contact information
3) Wait for an approval e-mail
No additional documents are needed for the application, Ahmad Dasuki said.
He added that once an application is made, the borrower will receive a confirmation e-mail within three working days.
Alternatively, you can also get in touch with PTPTN by calling 03-2193 3000 from Mondays to Fridays (9am-5pm).
Oh, one last thing; to those of you who have taken a loan from PTPTN and have yet to repay them, shame on you!