KUALA LUMPUR, Jan 31 — Local university UCSI has found that 73 per cent of 1,077 Malaysians aged between 18 and 40 are in debt.
“Although the number of borrowers among the youngsters is worrying, 83 per cent of them could pay their loans on time,” UCSI University’s head of research and postgraduate studies in its Faculty of Business and Management, Hassanudin Mohd Thas Thaker, said in a statement accompanying the survey results.
He saidthe research centre found that 73 per cent of youths are aware of the consequences of defaulting on their loans.The UCSI poll also found 58 per cent of Malaysian youths saying their financial status have been hurt post Covid-19. Hassanuddin added that the change in lifestyle may have been necessary to some of the youths because many things changed during the pandemic.“This requires each student to have their own laptop and home Wi-Fi facility for them to join online classes which indirectly affected their daily financial well-being,” he said.
Source: Education Headlines (educationheadlines.net)
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