Over 150,000 students are set to lose their National Higher Education Fund Corporation (PTPTN) loan facilities after failing to maintain the stipulated scholastic performance levels.
PTPTN previously warned that students who failed to keep their cumulative grade point average (CGPA) above 2.0 would have their study loans revoked, saying the move was to ensure only dedicated scholars benefitted from the loans.
Chairman Datuk Ismail Mohamed Said today revealed that the move involved a total of RM632 million, adding that the students can have the loans reinstated if they succeed in meeting the minimum academic achievement levels in subsequent study terms.
Last year, the PTPTN granted RM38.69 million in loans to 1.75 million students. Of this, 9,545 students had some RM278 million waived after they graduated with first class honours.
The fund was incorporated in 1997 to provide student loans to those pursuing tertiary educations.
Since its inception, PTPTN has issued some RM24 billion in loans and recently saw its annual allocation raised to RM6 billion