KUALA LUMPUR, Malaysia, January 31 — The National Higher Education Fund Corporation (PTPTN) collected RM3.01 billion in deposits for the National Education Savings Scheme (SSPN) account in 2021, up from RM1.99 billion in 2020.

In a statement released today, PTPTN chairman Datuk Wan Saiful Wan Jan described it as an encouraging achievement because it was the largest collection since three years ago, with RM1.14 billion in 2018 and RM1.37 billion in 2019.

“Until December 31, 2021, the entire amount of SSPN deposits accumulated was RM10.88 billion, while deposit receipt for 2021 was RM3.01 billion, representing 167.08 percent of the year’s objective of RM1.8 billion.

“This deposit represents 27.63 percent of the deposits received since the SSPN was launched in 2004,” he added.
According to him, a total of 421,281 new SSPN accounts were registered last year, exceeding the annual objective of 400,000 accounts, and a total of 5.24 million accounts had been opened as of December 31.

PTPTN had created new channels for loan repayment and savings through strategic collaborations with third parties such as ShopeePay, BESTPay, KiplePay, KelantanPay, PayHalal, AnsaraPay, and SpayGlobal, Wan Saiful added, in an effort to strengthen its service delivery to clients.

Apart from that, internet banking payment channels such as JomPay and chosen banks, as well as e-Pay services, are available.

This is in keeping with PTPTN’s Strategic Plan 2021-2025, which is centred on the company’s digitalization initiatives, he said, adding that PTPTN would continue to give the finest service to clients in accordance with new digital standards and advances.

PTPTN helped 140,977 students continue their study at institutes of higher learning last year, according to Wan Saiful, with approved education loans totaling RM3.51 billion.

70,412 students, or 49.95 percent of the total, were from the B40 group, with a total loan of RM1.95 billion, while total loan payback received last year was RM2.36 billion, an increase of RM1.01 billion, or 74.53%, from RM1.35 billion in 2020 – Bernama ( Original Article Published by Malaymail)

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