AN APPROACH TO IMPROVE NATIONAL HIGHER EDUCATION FUND

CORPORATIONS (PTPTN) REPAYMENT MECHANISM

Master of Engineering Business Management (MBEM)

Razak School
Universiti Teknologi Malaysia

NOVEMBER 2016

TABLE OF CONTENTS
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CHAPTER 1 1
INTRODUCTION 1
1.1 Introduction 1
CHAPTER 2 3
LITERATURE REVIEW3
2.1 Literature Review 3
CHAPTER 3 5
PERBADANAN TABUNG PENDIDIKAN TINGGI NEGARA
(PTPTN) 5
3.1 Background 5
3.2 Issues Related to PTPTN 7
3.3 Solutions 9
CHAPTER 4 17
CONCLUSIONS 17
REFERENCES 18

TABLE OF FIGURES
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Figure 1 : PTPTNs Stakeholders and Strategic Partners............................................6

Figure 2 : Methods of PTPTN Repayment of Loan..................................................10

Figure 3 : Ishikawa Diagram on Unpaid Loans By PTPTN Debtors........................11

Figure 4: Flowchart of Current Procedure on Application for PTPTN Loan

Repayment Exemption................................................................................................15

Figure 5 : Recommendation on Repayment Exemption Mechanism........................16

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CHAPTER 1

INTRODUCTION

1 Introduction

A way to develop human capital is through education. Education plays big

role in building the strong nation and maintaining the economic growth. Knowledge
is acquired to produce competent and productive labours for the nation and country.
Education in Malaysia is divided into pre-school, primary, secondary and tertiary
level.

Pre-schools are intended for child ages from four (4) to six (6) years old.
Primary education starts when a child reaches the age of seven years old and entering
to secondary school six years later. Presently, a student shall spend at least 11 years
in their school days before able to enter the tertiary education level after they sat the
public common examination, Sijil Pelajaran Malaysia (SPM). Primary and secondary
schools are under Ministry of Education jurisdiction. Eleven years of pre-tertiary
education in Malaysia is a common practice. However, the Malaysian education
system has been designed to reflect the needs and identity of a multicultural society.
Free education was provided by the Government for six compulsory years in primary
school and five compulsory years in secondary school.

Upon successfully completion of SPM, the student may apply to further their
studies to the higher education institutions. Universities and colleges normally offers
diploma, bachelors degrees, masters degrees and PHDs programmes meanwhile
Polytechnics and Community Colleges offers Diploma or Cetificate in technical and
professional programmes focusing on skills development. Recently, the demand for
higher education in Malaysia is rising due of market needs and surrounding factors
such as peer influence or family background.
 2

Pursuing tertiary education is not free and as the cost increase due to several
factors, it is important to plan ahead and consider on the options that are available to
finance the education. Well off or high income families may have their personal
savings for obtaining higher education but students from middle income or low
income families might having difficulties in pursuing tertiary education. Some of the
most common financial aid is scholarships, study loans and waiver of tuition fee by
the educational institutions. Scholarships can be considered as free loan (does not
have to pay) meanwhile loans usually comes with interest and there are situations
where loans can be waive and converted into scholarships with certain condition.

There are several sources that can be approach for the funding of higher
education which includes the scholarships from Public Service Department (JPA),
Council of Trust for the Bumiputra (MARA) Education Sponsorships, The STAR
Education Fund, EPF Education Withdrawal Scheme and National Higher Fund
Corporation (PTPTN) loans. There are also private or corporate companies and
Government Linked Companies (GLC) that provides sponsorships such as
PETRONAS Scholarships Programme, Shell Malaysia Scholarships Programme and
Khazanah Nasional Scholarships. However, those sponsorships are usually limited so
only strong academic candidates with outstanding involvement in curricular activities
have higher chances to be sponsored. Besides that there are some sponsorships that
focus for students on certain areas of studies or courses that relevant to their business
nature.
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CHAPTER 2

LITERATURE REVIEW

1 Literature Review

There are various studies related to tertiary education and student loans
however the study related to PTPTN is minimally explore. Tertiary education in
Malaysia has been a key factor in developing the nation (Lindong, 2007; Aafaq,
2007). Economic Planning Unit (EPU) reported that the Government of Malaysia
had proposed national budget allocation of 2009 for tertiary education reaching
RM14.1 billion since it is a fast-growing sector in the economy. From the studies on
tertiary education majority agrees that the contribution of higher education to the
nations well being is undeniable. According to Lee and Levy (2003), Malaysia had
allowed the existence of private higher education long ago without granting it a full
status due of private higher education institutions are profit oriented and the fees are
higher than public institutions.

As the demand and cost of education is getting higher, the concept of

financing higher education through Governments subsidies and grants is no longer
suitable. Around the world, student loans have been introduced to replace with
scholarship and grant. In financing tertiary education, there are three strategies being
applied such as introducing or charging tuition fees, charging students for board and
loging and replace scholarships and bursaries by student loans income (Russayani
and Wan Roshidah, 2009). According to Ziderman (1995), student loans as a mode of
financing have been practiced by more than 50 countries around the world.

Scholarship opportunities are available in Malaysia, however it is limited.

There were approximately 15 common government-based scholarships providers,
including foreign government scholarships and The Public Service Department
(PSD) is the largest scholarship provider for the tertiary education. The total number
of students sponsored by PSD to further tertiary education abroad and local in 2007
 4

is 9,700 however total number of students pursuing studies to tertiary education is

144,459 in 2005 (Samuel Jebaraj et.al, 2007). The figure clearly shows that the
scholarships provided by PSD are insufficient.

PTPTN, a body to manage and provide higher education financing in

Malaysia was established by the Government in 1997. The eligibility of the financing
was for private institutions at beginning but then it was extended to public
universities as well. Until 2008, PTPTN had been financing about 1.14 million
borrowers with the approximately RM23 billion. Since it was on a loan basis, the
borrowers have to refund the study loan given. Studies have indicated that there are
various forms of repayment schemes and administrations for loan programmes.
Mortgage type loans and income contingent loans are two basic types of repayment
scheme that being used worldwide. Mortgage type loans is a situation where the
repayment amount is fixed for fixed duration period meanwhile income contingent
loans implies to the repayment amount is depends on the borrowers yearly income
(Russayani and Wan Roshidah, 2009).
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CHAPTER 3

PERBADANAN TABUNG PENDIDIKAN TINGGI NEGARA (PTPTN)

1 Background

In order to achieve the Vision 2020 of being a self-sufficient nation and

advanced economy in 2020 the Government requires a proportion of skilled workers.
In this context, the Government had approves the National Higher Fund Corporation
(PTPTN) act in July 1997 and PTPTN starts it operations at Bangunan Chase
Perdana, Damansara Heights, Kuala Lumpur in November 1997.

PTPTN is an agency set up by the Government provides study loans to

qualified students to pursue their tertiary education at local educational institutions.
Main functions of PTPTN establishment are to manage the financing for tertiary
education and its repayment collection, to provide a systematic saving scheme and
administer the deposits for higher education purposes. Besides that, PTPTN also
responsible to perform any other functions entrusted to PTPTN by any written
legislation. PTPTN is eligible to all Malaysian citizens, aged 45 and below that
decided to further their study in tertiary education. But, for part time students,
PTPTN only eligible to those enrolled in public universities. This loan helps students
to fully or partially pay their fees and their subsistence for the duration of their study.
The loan amount approved is according to the course and institution enrolled.
PTPTN loans are given in three categories which is full loan, partial or tuition fees
only. This is determined by the applicants monthly household net income. However,
PTPTN loans are approved on generous terms and they are not as rigid as those
imposed by commercial banks or financial institutions.
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Figure 1 : PTPTNs Stakeholders and Strategic Partners

Source: PTPTNs Strategic Plan 2016 2020

PTPTN are also responsible to provide a systematic saving scheme and

manage the deposits for higher education purposes. In order to tighten the concept of
this function, the Government had introduced Skim Simpanan Pendidikan Nasional
(SSPN) in August 2004. The scheme assists the parents to make an early financial
planning for the purpose of their children higher education expenses in the future.
Through the implementation, students who wish to apply for PTPTN financing must
have a SSPN account with minimum of RM20.00 deposits. In the disbursement of
the loans, an agreement will be sign explains on the basic information of loan
amount, disbursement period and payback period. The loan also covered by Takaful
insurance as to cover the loan if in the event the borrowers death.

As PTPTN is a loans so minimal interest rate were charge in the payback rate.
According to Zamir Iqbal and Abbas Mirakhor (2007), interest rate is the premium
 7

that must be paid by the borrower to the lender together with the principal amount.
PTPTN had introduced Ujrah Scheme in 2008 which gives the borrowers an option
to convert their existing interest rate from 3% to 1% per annum. The offer is eligible
for borrowers who maintain with a loan balance as at 1 June 2008 only. Borrowers
have to apply and accept the new contract under Ujrah Scheme in order to convert
the interest rate from 3% to 1%. This scheme was introduces to assists the borrowers
to clear off their debt faster and with less interest. However, PTPTN also provides
repayment exemption or converting the loans to scholarships for their borrowers. It is
only valid for full time students that awarded with First Class Honour Bachelor
Degree.

2 Issues Related to PTPTN

2.1. Unpaid loans by debtors

Today, there are many issues related to PTPTN, one of the common issue is
unpaid loans from the debtors and issues pertaining unsatisfaction on the
enforcement of blacklisting the unpaid borrowers name via cooperation with credit
bureau and Immigration Department.

According to The Sun Daily, 2016 PTPTN had declared that 753,058
borrowers havent made their repayment with total cost approximately more than
RM5b. PTPTN suffers major problem when 60% of the borrowers defaulted on their
payments. PTPTN had collected only RM9.6 billion until 31 August 2016 compared
to the actual fact amount shall be collected is RM18.11 billion. Table 1 explains on
PTPTNs financial performance for seven (7) years from 2003 until 2009. From the
table, clearly shows that year 2009 recorded approximately 50% of defaulted
borrowers in repayment collection although the Government had revised the interest
rate from 3% to 1%. After several years, this is still a common issue in Malaysia
news headlines.
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Year Total Loan Given Amount Repaid in Repayment

in Billion (RM) Million (RM) rate (%)
2003 2.0 1.0 0.05
2004 2.15 64.5 3.00
2005 2.0 136.0 6.80
2006 2.4 175.2 7.30
2007 2.8 968.8 34.60
2008 3.0 1,320.0 44.05
2009 2.9 1,464.0 50.67
Notes : RM Malaysia Ringgit
Table 1 : Financial Performance of PTPTN (2010)
Source: PTPTN website

In order to urges borrowers to make their repayments, PTPTN had decided to

blacklist the borrowers name in Central Credit Reference Information System
(CCRIS) if they failed to pay their loan or failed to service their loan on time.
CCRIS is a database owned by Bank Negara of Malaysia that stores credit
information on Malaysian borrowers. In current financial practice, being blacklisted
in CCRIS will affect badly on a person credit history. This will reflect the ability in
applying for other loans such as for purchasing a car, a house or even a credit card.

Besides that, PTPTN also had cooperate with Immigration Department of

Malaysia and loan defaulters may be barred from travelling to overseas. The
consequences being barred from travelling overseas is due of a loan defaulters is
unable to renew or apply for passport.

2.2. Bureaucracies in Loan Scheme

Issues regarding debtors lament over bureaucracies in PTPTN loan repayment

scheme was also one of the common issues splattered in the news. Malaysia tabloid
format newspaper, The Star on January 2013 reported that there are letters to editor
complaining that there are borrowers having difficulties in converting their loan to
scholarship due of bureaucracies. PTPTN offers loan exemptions for borrowers
graduated with First Class Honour Bachelor Degree. The exemption was only
 9

eligible for full time students. Only borrowers that had obtained their degree scroll
may proceed with the exemption application process. There are several documents
needed to be completed and verified by respective Higher Education Institutions
before it can be submitted at the nearest PTPTN branch by hand. The processing
duration for the application may take up to 60 days but sometimes it took longer than
the expected duration and on the other hand the borrower still have to make their
loan repayment due of the long processing time needed.

PTPTNs payback policy allows the borrower to make their first payment
after six (6) months of graduation in consideration that the borrowers may have
sufficient time for them to settle down after completion study before starts to make
the repayment. Even though PTPTN had taken into consideration several indicator to
ensure inclusivity before the enforcement but those new measure had receive media
coverage and public attention recently due of unsatisfaction. All these measure had
been look as a kind of punishment form the Government and have been critically
criticized.

3 Solutions

Typical type of collection procedures should be revised in order to increase

the quality of collection. Quality management is about managing and finding the best
strategy in achieving the organization goal either through organizational structure,
procedures, process or resources. In this context, a systematic approach is necessary
for PTPTN to ensure the stakeholders and customers are satisfied and at the same
they achieve their target.

3.1. Unpaid loans by debtors

PTPTN is a revolving fund so repayment is needed to finance new loans. The

Government could only afford to provide allocation for initial capitals before
revolving fund starts its service. The role of recollection is important to a fund
provider or lending organization to continue the service. Therefore, PTPTN had
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created several initiatives to helps borrowers to make their repayment. For instance,
PTPTN is making them more approachable through opening 74 branches nationwide,
restructuring the repayment schedule up to 60 years old, salary deduction or via
Banks standing instruction, repayment through Account II Employee Provident Fund
(EPF) withdrawal and Electronics Data Capture (EDC) Terminal. Even though there
are multiple channels to make the debt settlements but the total amount collected is
still poor.

Figure 2 Methods of PTPTN Repayment of Loan

Source: PTPTNs website

Other initiative includes an announcement of 20% discount during the 2013

Budget Speech for borrowers that clear their loans in one lump sum meanwhile 10%
discount is offered to borrowers that pay consistent amount for a year. This
announcement is to encourage the borrowers paying off their loans and it had
successfully increased the recollection value up to 49% however the discount was
only stands from 1st October 2012 to 30th September 2013. After all these alternatives
had been introduced, Malaysia still one of the 70 countries that suffer from a high
default rate after loans distributed (Shafina, Antoaneta and Satwinder, 2011).

Something must be done to sustain the quality of Malaysias higher education

fund cycle forever so a study on what makes PTPTN borrowers reluctant to pay
should be identified. Seven basic Quality Management Tools is suitable in
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troubleshooting issues related to quality. Some of common Quality Management

Tools that popular is Histogram, Pareto, Scatter Diagram and Ishikawa Diagram.

The cause and effect of this issue has been identified using one of seven basic
Quality Management Tools, the Ishikawa Diagram. Ishikawa Diagram also known as
Fishbone Chart or Herringbone Diagram. It helps in identifies the possible causes
for an effect. Figure 3 explains on the possible cause of unpaid loans by PTPTN
debtors.

Figure 3 : Ishikawa Diagram on Unpaid Loans By PTPTN Debtors

The possible cause of unpaid loans by PTPTN debtors can be divided into
management factors, medias role, psychology and communication factors. Poor
management either on the borrowers side or on the PTPTN side might influence the
loan repayment collection. For instance, the fixed amount of monthly payment after
graduation may burden the borrowers life after graduation especially those who
doesnt get appropriate or permanent job according to their academic background. If
a comparison was made among two graduates from the same background of studies
will have to pay the same monthly repayment amount even one of them managed to
get a better job with higher salary compared to the other. In order to overcome this
situation, PTPTN shall take into consideration flexibility of repayment amount based
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on the borrowers monthly income and family financial background. At the first
place, majority PTPTNs borrowers are from middle income and low income
families so even though the borrower is now working he/she might have to supports
their family. Introducing a fixed rate out of borrowers total monthly income can be a
practice. As such, the monthly repayment amount can be charge on 5% or 8% from
borrowers total monthly income. In this case, a borrower who earn RM1,000
monthly income may only have to pay RM50.00 or RM80.00 per month and the rate
of charge can be increase when the borrower earn better income.

However, in order to implement this method PTPTN have to engage with

several bodies or agencies such as Inland Revenue Board of Malaysia (LHDN) and
EPF. By this engagement, PTPTN can identify the status on a borrower total monthly
income and have a good track record through their total amount of income declared
to LHDN and contribution to EPF. Instead of cooperate with CCRIS and
Immigration Department of Malaysia to barred the defaulted borrower, considering
the option on recalculate the charge of repayment amount and engage with LHDN
and EPF may bring better impact.

PTPTNs poor financial management is one of the factor that affect on poor
recollection issues. PTPTN starts to make a stern decision to the borrowers after
PTPTN having insufficient fund to provide loans can be consider as poor financial
planning. As published in local tabloid News Straits Times (NST) on December
2015, PTPTN could only approved 95% of the new students intake due of
insufficient fund. Since the terms of repayments was stated in the agreement
between PTPTN and the borrowers, PTPTN as the responsible agency must follow
up and start collect the debt repayment from the borrowers within the stated period
and not after facing those problems. Making a stern measure after creating a large
batch of borrowers reluctant to pay their debt would not easily settle the difficulties.
PTPTN should have a systematic tracking system to helps them to identify names of
borrowers who had completed their studies and started to send reminders on the
borrowers responsibility when it reach six months upon graduation. Failing to
implement an effective and efficient payment collection and tracking system may
reduce the interest of the borrowers in making the payment.
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Media also plays important roles in influencing the debt recollection. Media
electronics and social media is a trending in supplying information to publics. The
quick accessibility to media makes it as an important tool in delivering messages and
information. Based on the effectiveness of these sources and its engagement with
young people, PTPTN shall cooperate with those media is spreading the information
thus helps for behavior change among the borrowers. According to a study by
Volkwein and Alberto (1998) show that students realize that loan repayment is
needed, so misinformation cannot be a factor in loan defaults. Awareness among
borrowers on the importance of the repayment in rolling the fund for future and how
the money being handle to ensure the cycle sustain is important to earned the
repayment. Lack of awareness on those issues may lead to misinformation and
ignorance among the borrowers.

Poor communication also contributes to poor collection obtained from the

borrowers. Bad interactions with the borrowers and lack exposure on loan terms and
conditions may impact the recollection process. Besides of using media in spreading
news or latest information on discounts, new procedures or terms, PTPTN also
should use normal non-verbal mode of communication in delivering information to
the borrowers. With current technology era, sending an email or Short Message
Service (SMS) to the borrowers is the easiest, fastest and cheapest communication
medium. A reminder on the due date of monthly payment for each month can be
great in order to create awareness to the borrowers that they should do something.
Contact policies can be considered as preventative strategies in the collections
process. For instance, local financial institutions and local telecommunications
provider in Malaysia had been practicing on giving a SMS to their borrowers or
subscribers reminding on past due monthly payment.

Loan agreement provides details on loans requirement including the payment

amounts, methods and process. Educate borrowers about the terms and condition in
the contract and recollection procedures can helps in reducing default rates. PTPTN
should clearly explains the terms and condition of the loan, benefits of paying on
time and their business procedures in payment collection so that the borrowers may
have clear picture on the consequences if they reluctant to make the repayment. It is
 14

important to stress on benefits received due to punctual payments as well so it will

motivate the borrowers in making the payment.

Psychology factor also affect the payment collection. In this context,

psychology is the characteristics or attitude of the borrowers. According to Fishbein
and Ajzen, 1975) attitude can be define as being associated with the behavioral
intention and intention leading to the actual behavior. There are studies reported that
students loan burdens the borrowers delays in buying properties such as a car and
getting married and children (Baum and OMalley, 2002). These factors may create a
perception that loan repayment will affect quality of a persons life. Its
unquestionable that having loan right after graduate will affect the borrowers
savings but with proper financial planning this may not be a cause. Clear awareness
on the responsibility of paying off debt from various perspectives such as religion
and current financial rules will attract the borrowers to take the responsibility.

3.2. Bureaucracies in PTPTNs Loan Exemption

PTPTN offers a free education for those excel in their studies through the
exemption of repayment offer. The exemption is only valid for those obtain First
Class Honour Bachelor Degree, however the exemption was not given automatically
after obtain excellent result in the University. There are some documents and
procedure to follow for the exemption. Figure 4 explains on the process of
application for exemption of PTPTN loan repayment.
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DOWNLOAD EXEMPTION OF PTPTN LOAN FORM

REPAYMENT APPLICATION FORM

PREPARE REQUIRED SUPPORTING DOCUMENTS
Declaration by borrower
Copy of Bachelor of Degree With First Class Honours
Scroll - verfied by the respective IPT
Copy of Transcript - verfied by the respective IPT
Copy of the Certificate of Accreditation from MQA
(for borrowers from IPTS)

SUBMIT APPLICATION FORM AND SUPPORTING

DOCUMENTS TO PTPTN

STATUS OF APPLICATION WILL BE REPLY IN 60 DAYS OF

COMPLETED DOCUMENTS RECEIVED

Figure 4: Flowchart of Current Procedure on Application for PTPTN Loan Repayment

Exemption
Source: PTPTNs website

According to PTPTN procedures, they needs approximately 60 days in

processing the exemption of PTPTN repayment applications after completed
documents received. Since PTPTN needs a copy of scroll as supporting documents, a
borrower can only proceed with the application after their convocation. Normally
local university will take place after at least four to six months after graduation
however there also universities that hold their convocation until eight months. In this
case, the First Class Honour Bachelor Degree borrower will have to start making
their repayment even though they are qualified for the exemption. The requirement
from PTPTN in order to have genuine application through verification on the
supporting documents also will delay the application process. In order to improve the
quality of collection, excellent strategy have to pursue by PTPTN by reduce
inadequate documentation practices and eliminate tedious procedures. Figure 5
presents recommendation on alternative procedures that can be implement by
PTPTN to improve their repayment exemption mechanism.
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PTPTN DATA ENTRY ON ENGAGEMENT

APPLICATION DATABASE WITH TERTIARY
RECEIVED (including name of EDUCATION
FROM student, university and INSTITUTION
APPLICANTS course enrolled, (public and private
duration of study) universities)

Provide borrowers CGPA result

upon 1 month completion of study

QUALIFIED FOR DISQUALIFIED FOR

EXEMPTION EXEMPTION

Within 2 weeks Within 2 weeks

ACKNOWLEDGEMENT EARLY REMINDER TO

TO BORROWERS BORROWERS
RECOLLECTION OF
REPAYMENT STARTS
IN 6 MONTHS

Notes : CGPA = Cummulative Grade Point Average

Figure 5 : Recommendation on Repayment Exemption Mechanism

Lam (1996) founded that major problem to the use of quality management
tools is lack of ability in solving quality problems. By eliminating unnecessary
procedure such as submitting certain verified documents to PTPTN after obtaining a
scroll maybe tedious procedure and time consuming. Those unnecessary procedure
can be eliminate by having a reliable database on borrowers personal details
including their name, university attended, course enrolled and period of study will
simplify the process of identifying qualified borrowers for repayment exemption via
engagement and cooperation from the public or private higher education institutions.
By implementing the proposed mechanism, it will shorten the time for PTPTN
response to the exemption status.
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CHAPTER 4

CONCLUSIONS

With the rising cost of tertiary education, PTPTN is important and needed by
the nation. Since our country is not ready yet to provide free tertiary education so it is
important for PTPTN to take the appropriate measure to move forward. PTPTNs
priority now is not only on loans disbursement to deserving students but also to go
after the defaulters for payment therefore identify and practicing the most suitable
strategy is a good move. The proposed repayment collection and repayment
exemption mechanism could strengthen PTPTNs procedures in collecting the loans
effectively. The Ishikawa Diagram had explains what the sub causes and causes that
brings on poor repayment collection. In achieve healthy collection, reviewing on the
collection mechanism will ensure stakeholders and customers or in this context its
the borrowers satisfied. As quality is referring to how close a product or service
characteristic meets the needs and expectation, understanding on what are the
customer expectation and situation can build better service quality. Although,
customer are referring the borrower but still they play an integral role in the overall
lending cycle.

The measurement of TQM principles and core concepts, which are critical
success factors may reflect performance of an organization. As explained by Kanjis
Pyramid Model, 1996 an organization must ready for continuous improvement in
order to achieve high customers satisfaction. Implementing the quality management
principles will helps in increased customer value, increased customer satisfaction
besides building the organization reputation so it was the best tools for PTPTN to
consider based on current situation. Any changes in the business process may reflect
the organization performance and improve the organization business excellence.
 18

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