Why I'm so happy? Because I'm oso one of the borrowers... Unbelievable, right?
Dun worry here I attach a copy from New Straits Times today about this good news....
PUTRAJAYA: The new service fee for National Higher Education Corporation loans is now a flat rate of one per cent, down from three to five per cent
They include all future and existing borrowers as well as those servicing their loans following the completion of their studies.
Students applying for loans before the new system is implemented will have their applications processed and approved according to existing rates and an adjustment will be made later when the new system is developed by December.
Previously, the administration fee for PTPTN undergraduate borrowers was three per cent while the charges for postgraduate study loans were fixed at five per cent.
The matter was brought before the council to determine whether the fee was syariah-compliant.
In meeting syariah requirements, the fee must be entirely for service charges.
In line with the change, Khaled said new agreements would be issued to all borrowers by early next year. They will then have one month to complete the new agreement and return them to PTPTN.
"If a borrower fails to do this, he will continue to service his loan under the old rate."
Now u should believe lor... Let's party!