PTPTN – STARTING LIFE, LIVING AND DYING IN DEBT

http://mmail.com.my/content/84974-loans-review

A good government will ensure that every citizen is educated to the highest level and quality. This include the young, old, rich, poor, handicapped, the autistic, hooligans, clever, stupid and even lunatics, all must be educated. The best of governments is the one that provide free education for all. Better ones at least ensure that the cost of education be affordable to everyone. A bad government is one that makes money out of education at the expense of its citizen.

The UMNO/BN government should not take the easy way out when the budget is tight in providing education. The problem with taking the easy way out is that things will get worse each time. The easy thing to do had been making student pay some fees. Then increase the fees. Then the government borrows money to ensure that the students will be subsidized with the borrowed money. Then when the money is not enough, sacrifice the standard of education. Then when all had been done and the government still has not enough money, provide some huge funds, force the students to borrow and charge 5% and the government has become a bank. The 5% so-called service charge is redundant since the staff managing the PTPTN has all been catered for by the budget for government administration, thus it is just net profit for the government. The end result of the government taking the easy way out instead of finding ways to provide affordable good quality education for the new generation is the PTPTN.

PTPTN is a bad scheme. This is a burden for society because it encourages the young people to start borrowing even when they can’t afford to pay and even before earning their living. Just consider at a tender age of 18 years old Form Five students start to be in debt! How can a responsible government teach its citizens to be addicted to borrowing at a very young age? That is why we have the Ah Long business growing like lallangs. Borrowing has become the main addict of our society. This phenomenon is akin to or if not worse than drugs, alcohol and gambling. This PTPTN debt will then continue unabated and coupled with car loans, housing loans and the ever increasing cost of living, every Malaysian will probably be in debt until their graves and their next generation will have to continue with the same vicious cycle of debt.

Many UMNO/BN supporters will try to justify that the cost of education is too high and the UMNO/BN government just can’t afford it, thus the students have to pay and nothing is free in this world. Then these “ball carriers” will even condemn those who don’t pay back the PTPTN loan. I for one do not agree with such justification and would encourage the students not to pay simply because the UMNO/BN government is not doing its job.

Have the government taken the steps to reduce wastage in its spending? Based on some estimates the total wastage per year is RM28 billion. This is public money gone into someone’s pocket or money down the drain. There are other unnecessary and bad expenditures like the two useless Scorpene submarines; the navy play toys, subsidization of the Independent Power Producers (IPP) & other concessionaires to a tune of RM39 billion per year, awarding of contracts through negotiated tenders (it should be done through open tenders), supporting luxurious life style of the UMNO/BN hierarchy, the APCO an FBC debacle, bail outs of cronies and mismanagement of GLCs (most of the GLCs are managed by corrupt and incompetent people), highly inflated prices of whatever outsourced by the UMNO/BN government of which are of poor quality and short usable life span with high maintenance costs and many other overpriced privatization schemes. Why is the government not doing anything about it? Like I mentioned earlier, the only conclusion is that the UMNO/BN government is not responsible at all.

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