For this post, I am going to share how I made my PTPTN study loan repayment.
How I made my PTPTN study loan repayment
I still have a few more years to go before I settle my PTPTN (Perbadanan Tabung Tinggi Pendidikan Nasional) study loan.
Actually, I can choose to settle the PTPTN study loan with one lump sum payment.
But, given the option to repay the study loan on a monthly basis with a low-interest rate, it is best to pay according to the agreed schedule.
I remember when I first made the repayment to PTPTN a few years back, it was difficult as there were limited repayment options available. The easiest way for me was to open a current account with a local bank.
Then I write a cheque and send the cheque by post to PTPTN on monthly basis.
To be honest, it was not convenient as there were many steps involved. All these require additional time and resources. In addition, I was worried if the cheque arrived safely at the PTPTN office.
And it also took some time, which is more than one week before the payment was updated in my PTPTN statement.
But, later I found that there are other payment options available such as online payment. This is much easier, convenient and saves a lot of time and money.
Other options to make PTPTN study loan repayment
As of now, you can make online PTPTN repayment through most local banks. From my experience, the charge for online payment is RM1 for each transaction.
Other than through online banking, you can also make the repayment by using the bank draft or money order. Alternatively, you can make the payment through the PTPTN service counter at the selected local bank counter.
For the complete list of payment options, you can refer to the PTPTN website.
Final thoughts
Hopefully, with more available options, PTPTN borrowers will find it easier to make the monthly study loan repayment.
I wonder what happen to the adjustment of the interest rate? It seems like nothing happen since beginning of the year.
Yes, I also noticed that there's no adjustment as mentioned earlier. I think I will call the local service centre to enquire about the interest rate adjustmnet.
Education loan consolidation while you're still a student, you must inform the lender that you are asking for early repayment status. This will guarantee you a lower interest rate, but will mean that you have to begin repaying the education consolidation loan immediately.
There is definitely a lot to know about this topic.
I really like all of the points you have made.