More now using PTPTN as savings fund

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Deposits doubled to RM790 million in the National Education Savings Scheme (SSPN) in the second half of last year.

KUALA LUMPUR: The public perception of the National Higher Education Fund Corporation is improving as more and more people are using it as a savings fund instead of regarding it as just an entity to finance education, it was stated today.

This took the total amount of deposits in SSPN last year to RM1.13 billion, the highest since it was established in 2004. Therefore, he said, PTPTN has targeted at least RM1 billion in deposits this year, compared with RM625 million last year.He said that as of February this year, the total funds deposited in SSPN, which is divided into two schemes — SSPN-i and SSPN-i Plus — was RM4.68 billion, with 3.96 million depositors.

 

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That bad 2 hv 2 make n SS sttmnt 2 urself, is it? What u shud b telling is repayments hv improved leaps & bounds; no. of defaulters reduced drastically & those earning less than RM4k can postpone repayment wansaiful

Question - is the saving deposits then used as loan to students? If yes, given the low repayment from the students, how safe are the deposits?

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