What action will be taken by government if did not payback PTPTN loan??
You’ll probably get banned from going oversea and unable to get any loan from bank in future. And, it will affect your next generations too.
Did you receive any letters chasing for the repayment? If you got and keep on ignoring those letters, their lawyer will send you one final reminder letter. The compound will be issued after you received the lawyer letter but still refuse to pay.
Interest rate is 3% only. Usually they start charging interest 6 months after graduation. They put it as administrative cost in the statement and they are actually charging it every month, which is depends on the loan balance. If you don’t pay now, the so-called administrative cost will keep on accumulating. So, finishing the payment as soon as possible will be better as it is compounded. Try to think mature; don’t let others immature behaviors affect you.
Nothing Is Not Fair
If you feel it’s fair that you don’t pay back the loan, but is this fair to those who are paying back their loan? What about the possibilities that thousands of undergraduates who may not receive any financial assistance in the future because people like you don’t pay up? Is this fair to them?
PTPTN was funded by government and rely on our payment to continue giving out education loan for future students. Let us think for the sake of future leaders and start paying back PTPTN. Else we cause other people to suffer. My mindset is rather to be debt free, than somebody come back haunting back me later.