Fresh graduates who are bad paymasters towards their National Higher Education Fund Corporation (PTPTN) loans are finding it difficult to obtain financing from banks. This includes securing loans to buy cars, property or even to obtain credits cards.
The report by The Sun pointed out that PTPTN loan holders are now included in the Credit Central Reference Information System (CCRIS) database. Financial institutions use the database to check the credit worthiness of loan applicants.
Due to poor repayment (translating to a poor credit rating), fresh graduates who are looking to purchase their first new car or motorcycle will have to look for other means of transport as their loan applications are rejected by banks.
PTPTN deputy chief executive officer, Policy and Operations, Mastura Mohd Khalid told The Sun that the low repayment rate of PTPTN loans forced the CCRIS move, which in the case of defaulters, can result in them being blacklisted on the database.
Most fresh graduates who are looking to purchase their first car will often end up in a Proton or Perodua showroom due to their affordable pricing. However, due to the aforementioned issue, sales personnel are finding it increasing difficult to shift any units.
A Proton sales adviser based in Muar told The Sun, “since this month, many new graduates have been unsuccessful in their loan applications. Details in their payslips may appear quite impressive with most applicants having low financial commitment. But when the bank officers view the CCRIS, they find that many had not paid their PTPTN loans for months, with some up to 37 months.”
What are your thoughts on the matter? Do you think the CCRIS move is harsh on fresh graduates? Is this a case of not being paid enough, or spending beyond your means?
Well.. Pay your loan before making more loans. Don’t be like 1mdb.
Ni semua salah gomen & poton.
john fly kite
Since you already have PTPTN, buying a Saga means you have to regularly pay for break-down, tow service, fuel hungry, no RV. No wonder youngster now have no spare cash.
Similarly if u buy bungalow under market value orso must pay bank loan…
Even though u pretend2 not to know u give projects to the seller…kahkahkah
Muslims do not allow hutang lapuk.
Jom…PTPTN loaners…Cari sama gua…Banyak seconhand bawah rm6000. Bayar saja tunai sekali gus. Good Condition also.
We already provided them valuable lifetime opportunity to complete their studies.
Now all of them thought PTPTN is scholarship. Spent the cash to buy latest Smartphones, Apple laptops, overseas holiday, modify motorbike, weekend movies & popcorn.
And surviving on Maggi when the fund ran out.
Anak sy amik duit ptptn, joli habih.
tp belajar X lepas. Rempit jer skrg hari2
in this case, it’s fair to demand repayment, it’s not free money as many of them think so,
if this plan successful, by next year for those not pay income tax also cannot buy a car
dah awal2 lagi tulis “pinjaman”
jadi paham2 la.. yang di pinjam perlu di pulangkan…
Ya, kita pun harap protong akan faham erti ‘soft loan’ yg baru diberikan kpdnya, yang di pinjam perlu di pulangkan…
Terbaek tu bro. Klu tu Derma kiter simpan.
Derma dari Arab PM kita pun sudah pulang balik (AG confirm tak perlu bukti, ok?). So PM is the best.
Out of topic, bro.
Soft loan became bail out!
When you borrow, you have to pay back. Simple as that.
That’s the habit that needs to be taught when they are young.
Fresh graduate can make berapa sini? take bus la. You can take loan from our PM, no need to pay back.
That’s donation.. Not loan..
PTPTN should provide those refuse to pay their loan to include in the CCRIS data long ago so that government have enough fund to loan to many students who need financial assistance.
But but but Adam Adli later protest with Party Hard support
If details on the payslip appears impressive but they opt not to pay their PTPTN loan, then they sendiri cari pasal. Loan needs to be paid. Now PTPTN loan in CCRIS, I fear next they might employ ‘money collectors’ to collect back the loan. Don’t let this happen guys and girls. When you apply for the loan, they give it to you, please pay them back when the time is due.
Rule of thumb, if you can’t earn enough to repay your debts (loans, credit card repayments etc), dream on getting a new car or bike by obtaining a another loan/debt.
This isn’t a bad thing. It’s a way to encourage financial prudence. Albeit a tough one.
There is no need to buy a new car. One can find decent used cars for cheap nowadays. Drive them for a few years then junk them once you get back on your feet.
Isn’t that what we all did when we started working?? The new generation is so spoilt.
The biggest mistake a fresh grad can get into is to buy a new car.
Buying second hand cars will also need bank loan dude. It will similarly be rejected.
Banks are running it as a business.
Whether is a case of not being paid enough or spending beyond your means, it doesn’t really matter as the person has a higher chance of defaulting the loan.
PTPTN loan repayments are already quite flexible. If you manage to get into the blacklist, is either you genuinely can’t earn enough to pay back, or your character is such that you don’t honour a loan contract. Either way, for which ever reason, you shouldn’t be entitled to more loans.
Well said. Thumbs down to the idiot who thumbed down or to future idiots who thumbs down on this comment or even my comment.
To the one who thumbed down, either you seek free money or you are a PTPTN debtor.
Less P1 buyers. this will negatively impact our national car project. Thumbs up!!
If got borrow ptptn, then must paylah..wat the fuss? Fresh grads must learn debts mgmt before getting more debts…is good for them anyway..
Debts management? The fresh graduates actually learned very well from our most senior politicians, the 1MDB thingy is a good example to learn from. Now the Arabs complain in London Stock Exch. 1MDB is in default of USD 1.1B !!
Najib, pak arab with 1mdb is one issue.. but ur loan still need to pay ma.. u dont pay, then you have no one to blame except urself..
Serve them right! By them not paying up will deter others from getting the loan benefit. Adjust your lifestyle until all debts are cleared. Take public transport for now. Authorities should clamp them down by prohibiting them to travel overseas too. These are selfish, self centered people. Bet most of them are queue jumpers too.
PTPTN loan holders have the obligation to pay back their loans anyway. I don’t see any issue for them to be included in CCRIS. If they can’t even pay back the small amount of monthly payment of PTPTN, they shouldn’t get a new car. FYI, I am a PTPTN loan holder as well, and I paid my loan every month.
I’m a student myself, but i have to agree with this. Hutang tetap hutang, so blocking fresh grads from getting loans(which is somehow adding new debt to their life) is a good way to force them to pay back their ptptn debt.
Did you know each month you will be charge for services?
It did not hutang RM5 you pay RM5.
And can u tell me which loan doesn’t have interest at all? I want to apply..
invalid argument. interest rate for car and property loans are higher.
fresh grad is graduated with a degree and enclosed with PTPTN loan. Then start their life being in indebtedness. So that means, CCRIS is hell shit for them to start their life with. have to contend to ride a bicycle for years before they can buy a decent car, (out of reach already) property.
What I see education is only one way making money.
not to educate.
Is that our problem? Tak bayar loan ptptn pandai nak beli kereta.
what can I do if I jobless
Get a job
If u are jobless then look for a job.. discuss with PTPTN on possible delay in payment.. a loan is still a loan.. don’t even think of buying a car if u are jobless..
Find a job!
If jobless then just troll in PT and bash that P1 is testing the stickiness of old newspaper on their prototype cars.
Oh wait, somebody alredi took that job.
If jobless,you should not buy car lar…
GOOD.
Youngsters these days just don’t care but looks like it’s biting them back now. Good work keep it up
Good. most Malaysian don’t know what is their priority in life. Defaulting PTPTN for over 37 months?? What a pity. Only have to pay RM150 for the first two years also says it is a burden.
If you read the sun front page today, it is also stated the dream of fresh graduate to buy super bike applying loan also being rejected. What?? A super bike after graduating?? Please think rationally and logically man. You are a graduate.
This is actually a blessing in disguise.
Many fresh grads may curse the banks now cos rejecting their loans.
But trust me, a few years later..you will think differently.
Can borrow money to study by cannot repay the loan? You want free money? These so called graduates borrowing money from PTPTN, if they can default on their study loans, the chances for them to default on their other loans are high too. So CCRIS is weighted on that.
Some of you want to apply for credit cards, and some of you even want to buy cars, moreover a house?? i.e. Buy a Perodua Myvi, then drive it for a few months and found that it is a burden to repay the car loan (some spanned over 9 years), did not repay the bank for three months and the car gets repossessed. Blame who? Again you want free money?
Clear your debts first, you think this is donation?
Minyak ada, sawit banyak, itu pun tak mampu nak bagi pendidikan universiti percuma utk rakyat. Jilake!
Belajar pon bodoh ada hati nak pendidikan free..
Belajar pon bodoh ada hati nak pendidikan percuma..
It is a good move.They borrow money so they must pay it back.It is not your fathers money.
It is a reasonable approach by PTPTN to recover the loans. For those young graduates, they need to think of their juniors/new college students who need the PTPTN money. It is not free.
if u have to pay rm200 permonth to ptptn, u have to pay it no less than that. Let say u pay rm190 they will think u are not paying for that month and 1 number increase to your ccris report. Maybe that guy payback to ptptn each month but lower than his agreement, that is his report stated ’37 months’.
My first 3 years of working, I went to work by bus. That was like 10 years ago. Nobody had it easy in the beginning. Unless your parents can afford it, then it’s a different story.
So, kids!! Don’t be so hard on yourself not able to afford a car on your first few years of work. Most people go through similar hardship.
Worked for 8years till now, haven’t bought any car so far. Public transport all the way. Now that my ptptn loan settled aready its time for my first new car. Cant wait for new civic to arrive this June.
Kudos to u bro.really salute people like u..not rushing to buy car at your early stage of working life.well done
know to apply n use ptptn, so know to pay it back…
I have a friend who self-funded himself to college without PTPTN, upon graduating he secured himself an accounting job. He bought a 10 year old iswara for RM9k cash. Fast forward 6 years later he has a house in Kota Damansara with his beautiful wife and Iswara is still there. I asked him what was his secret, he say never buy any depreciating asset with a loan, but it with cash. Now everytime i see him in his Iswara I remember that phrase
Harlo! Loan shall be rejected no matter it’s new car or old car. Unless fork out few thousand buying old old used car. Paid in cash
Hats off to your friends. But Malaysians generally don’t understand this and is a self-centered lot. Always complaining about not being able to buy a Camry for RM60k or a Bimmer for RM100k. Always aiming to live beyond their means. Not just fresh grads, even adults who have been working for years don’t get it. Willing to spend more on a flashy car and an expensive phone to impress people rather than owning a good landed property to provide for their families.
Then run up debts, then complain ini semua salah Gov/Najib, then still got the cheek to run to Gov/Micheal Chong for help, then after help still bash Gov & vote Party Hard.
Next tell your friend to get new decent car equipped with safety features. At least car with airbags, vsa and ebs. Don’t drive coffin and neglect his family’s safety. Invest a bit for safety on the road. Some people were too stingy to buy car as they feel car value will depreciate over times. Not everything is about money. Believe me it worth it.
PTPTN should be part of the credit standing health check or reports since the first day of introduction. Couldn’t believe the practice of when shit hits the fan, lets take some action habit stays :(
yes i agree. this is the right way to go.
pay PTPTN then only take car loan lah. if not until when will they learn.
Pay your loans first.. luxury next. If u still need to get a transport.. buy cash from our plenty second hand market.
Buy 10 year old 2nd hand Car cash, and then new Automotive policy emerges…..Cars above 10 years old must be scrapped.
Whether it is a house, car or PTPTN loan, a loan is still a loan. It has to be paid back.
Take note, Proton =)
I wodner how much they owe to PTPTN, hundreds? Thousands?
Kalau pandai pinjam, mesti pandai bayar
When my daughter was 2 years old, I started an education savings plan with a bank that matures in 15 years. So every month for 15 years the bank deducted my salary for this plan. When my daughter was 17, the plan matured and I withdraw the money just in time for her University entrance. So I don’t need to apply for PTPTN loan until the completion of her Diploma and Degree.
So parents, start saving for your children now so that they won’t be debtors once they completed their studies.
Gone are the days where parents actually save or invest for their kids education. These days they treat their kids like pets. I had a mother tell me the other day that sending her children for music lessons is a luxury, but no problems in driving around in a Passat, loading herself and her husband with so much debt by buying properties they can hardly pay for. I guess the money they pay their maid is more important than buying a piano and paying tuition for their daughters to learn music.
Gone are the days parents would sacrifice their luxuries for their children’s future. It sad that the older generation that were less educated and less fortunate made better choices than the current lot of selfish serving Malaysians. Don’t even get me started with parents who send their kids to religious schools so that they can save a place for themselves in heaven. What kind of future are the parents expecting them to have? Tak cukup ke pendakwah agama?
PTPN loan pun tak boleh bayar ada hati nak buat loan kereta pulak
ah long can pinjam duit buy car. Blacklist also can pinjam and won’t be in CCRIS. Hope is not all gone!
LOL loan ptptn pun tak bayar, nak tambah loan kereta pula.
The G itself teaches the rakyat to live on debt. Just look at 1MDB, from USD42 billion debt last 4 years after so called ‘rationalization’, the debt become USD50 billion with interest about USD3.3 b per year.
I dun see why this is unreasonable. We r practically living on debts when we take loan to study, then loan to buy car, then loan to buy house, and oso whenever we use credit card. Dun tell me u bring a briefcase full of moolahs when u go shopping do u? As long as u can managed the debts just like what AK did, then its ok lah.
these guys want to get a car loan when they can’t even serve their PTPN loan !!
Not a joke… I graduated a year ago and from my perspective they are not wrong. I got friends loan from Mara n PTPTN both jolly..1 guy brought a preve using Mara’s lum sum payment, then 1 day couldn’t pay for his car n tuition fee. He had to defer his study(till today) find work full time at a small company till he could payback. Another brought a superbike n treat her awek till pokai, then he quit half way tru studies n PTPTN requested he pay bck immediately.
Padan muka, karma
Good move, i knew many of friends bought new house and car but refused to pay back ptptn. Their feedback is this is gov money ie people money hence no need to pay back. Seriously more restrictions and forces must be introduced as education and persuade just simply wont work on these kind of stubborn persons…
If you didnt pay your ptptn loan, how can you guarantee that you will pay your car loan? Good move CCRIS.
Must pay back bank loans. Its as simple as that.
However, their mindset is that the country owes them a living!
Who created this culture of over-dependance?
klau dia orang tahu malu, sure tak rak hutang lagi
Good move by ptptn. Otherwise the next generation will be affected. Dont become next 1mdb
Not harsh at all. I’m very happy this is finally happening. You borrow the money, then you’ll have to pay it back. Grow up!