I somehow think that this idea has its merit… You should pay back what you owed, period. However, Mara should also ensure that this method of repayment are made known upfront to the borrowers before they took up the loan. This way, it would make it fair for both sides.
A study-loan such as this or the PTPTN can be a young grad’s worst financial nightmare, next to a car instalment and a new home loan. How would you manage it?
Or better yet, push the blames to your parents, what should they have done to avoid putting you in such a bad spot?
Mara should not pass loan recovery to EPF…
You might want to read these too...Utusan Malaysia, in an editorial, said Mara’s proposal that long-standing education loans be repaid from Account II of the EPF raises a number of questions.
It said the proposal seemed to indicate that it was out of ideas as to how to recover its loans, so much so that it was forced to come up with such an idea.
The newspaper pointed out that the list of loan defaulters in newspapers showed that Mara had their complete addresses as well as those of their guarantors.
It said Mara should try to trace these people hingga ke lubang cacing (to the world’s end) before coming up with the proposal to deduct money from the EPF, which had brought about objections from many quarters.
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