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PETALING JAYA: The government has announced an exemption on National Higher Education Fund Corporation (PTPTN) loan repayments for all borrowers who graduate with a first-class bachelor’s degree.

Currently, such exemptions only apply to borrowers from the B40 and M40 income groups who obtain a first-class bachelor’s degree. Prime Minister Ismail Sabri Yaakob said PTPTN would discuss the allocations required with the finance ministry.

“The government will be providing loan repayment exemption for PTPTN borrowers who graduate with a first-class bachelor’s degree, regardless of socio-economic status, race and religion,” he said during PTPTN’s silver jubilee celebration.

He said students who graduated from 2019 onwards would be eligible for the exemption.

“This is an incentive for the students to study hard and obtain the best results.”

In February, the government had announced that almost 80,000 students were eligible for loan repayment exemptions on amounts totalling RM2.06 billion from PTPTN.