24 Hour U Turn By Ptptn Maszlee Wan Saiful Bungle Again

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MOE suspends new PTPTN repayment scheme - a day after announcedPTPTN repayment scheme suspended for time being until we receive inputs and feedback from all stakeholders
Maszlee Malik, announced on Twitter today

(OSTB : You mean you implemented this new scheme WITHOUT any input and feedback from stakeholders??)
Y'day PTPTN Wan Saiful said borrowers earningborrowers earning > RM2,000,  2%-15% of salaries deducted to repay loans
new scheme did not sit well with borrowers 
flooded Facebook with complaints and pleas for reconsideration
new mechanism unfair and breach of their existing contracts
Maszlee’s announcement after Wan Saiful said ready to listen to grouses Wan Saiful prepared to consider those in need of “special consideration”

(OSTB :  Exactly what the hell is 'special consideration'? Either they can pay or they cannot pay.)
My comments :  It is becoming a pattern. 

Every week, almost without fail, Maszlee Malik the Minister of Education has to bungle publicly.  

And bungling along with him is Wan Saiful Wan Jan.  
Wan Saiful was Maszlee's Advisor who had to resign in a hurry.
But Wan Saiful remains as Chairman of PTPTN.

And they are bungling PTPTN - again.

Folks say that Maszlee has appointed his political aide as a Board Member of UUM.
Appointments are by 'association'. Not by ability or capacity.

Here are my observations about the PTPTN.

1. This PTPTN thing is quite incurable. The defaults will increase.
A lot of the PTPTN borrowers are in the "unemployable graduates" category. 
Meaning they will never get good jobs and they will never be able to repay the PTPTN loans.

2. Please do not bankrupt them, restrict their passports and other stupid things like that. These are young people who are just beginning their lives. If you bankrupt them, restrict their passports etc how are they going to get a job, travel anywhere overseas for business or do anything at all? 

3.  Do not penalise those good borrowers who are repaying their PTPTN loans on time. 

What does this mean?

(For example) when you say that those earning less than RM2000 NEED NOT pay their PTPTN loans you are immediately penalising those good borrowers earning RM2000, RM5000, RM10,000 who are working hard and have become successful.

Wan Saiful and Maszlee are telling the whole world that those who are NOT successful will be rewarded. They do not have to repay their loans.

Those who are successful and have good jobs will NOT be given the same exemptions.  They are actually being penalised. 

What about graduates earning LESS THAN RM2000  a month but they have NOT defaulted? They are still paying their PTPTN loans on time. Why arent their loans cancelled as well?

Here is my advice to Maszlee and Wan Saiful.

There are too many PTPTN defaulters. A large majority are Malay boys and girls who form a large part of the "unemployable graduates" category.

They are NOT GOING TO REPAY THE LOANS. PERIOD.  

If you wish to give the PTPTN defaulters some extra 'help' - for example you can grant them extra time - understand that that is a concession you are giving them. It is a reward you are giving them. You are rewarding them for being unemployable or for being low income earners.

This is therefore unfair on the NON DEFAULTERS, those graduates who already are paying their PTPTN loans on time.  

So how do you help the defaulters without being unfair to those who are paying their PTPTN loans on time?

For each concession or "help" you give to the loan defaulters, you must also reward those who are paying their loans on time. It is so simple.

(Cancelling loans outright is a dumb idea. You might as well shut down PTPTN.)

If you give the loan defaulters more time to pay up, then at the same time give the non defaulters discounts, bonuses, lower interest rates (for say 12 months, 18 months  etc).   

The loan defaulters are your bad customers.
They are not paying you your money.

The non defaulters are your good customers. 
They are your cash paying customers.
Treat them with great respect.

They can also vote the Pakatan out in the next elections.Posted by Syed Akbar Ali 

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