PTPTN Loan Cleared!

Previously I have proudly mentioned about my PTPTN loan status HERE, and now I am even prouder to know that I have managed to clear off my PTPTN loan. Now I have one debt lesser from my list. I don't know if this has anything to do with Law of Attraction (click HERE) or not, but I know that ever since I was in uni, I'd already told myself that I must clear off my PTPTN loan, though I didn't set a time-frame for that.

 

Thanks to government's initiative to offer 20% discount on the outstanding loan balance before 30 September 2013, I managed to save up RM2k++. I'd never thought that I will use up my savings to clear off the PTPTN loan. In fact when I first heard of it, it never even crossed my mind to do that. Because I still haven't manage to build my own emergency fund of 6 months pay, which was always being recommended by financial planners.

 

So did I even manage to do that? Well, I just had this sudden thought in one single morning when I woke up and then I tried to check out the procedures required. Happened that it is quite simple. And happened that JY and GT was contemplating the same too. I just had to call up PTPTN office to email me the Surat Pengesahan Baki to confirm how much loan balance I need to clear after the given 20% discount. Lesser waiting time because I have a friend who waited quite long at the PTPTN office just to get the letter.

 

Next, just need to go to the PTPTN office to make the full lump sum payment. You need to pay full sum in order to qualify for the 20% discount. Even if you pay several times within a week and managed to clear the loan, you won't get the 20% discount because admin charges might be incurred if the payment was received beyond statement date. You can pay via cash, or bank draft or cheque. You can even make online payment.

 

But since GT is paying it in the PTPTN office and he was kind enough to help me pay, I just passed him the cash in envelope. And I was thinking that I can immediately get the Surat Pelepasan Hutang to indicate that I no longer owe PTPTN. But in the end we still need to wait for at least a month for the Surat Pelepasan Hutang due to the overwhelming response from public to clear off the debt in order to take advantage of the 20% discount offered.

 

Well, I need to build back my savings but it is such a big relief and satisfaction to know that I can strike a debt off my list.