According to records, the National Higher Education Fund Corporation (PTPTN) recorded 2.9 million borrowers with 1.4 million reportedly still unable to repay their loans. Why do these borrowers still fail to make payments on their PTPTN debts despite having completed their studies?
Here are 4 main reasons why many PTPTN borrowers are unable to repay the debt.
#1. Failed to Get a Job
Today, it is indeed quite difficult for graduates who have completed their studies to get a job. As a result of these difficulties, when there is no job then how can they afford to repay their debts with PTPTN.
The high number of graduates each year is compounded by the poor economic conditions, so more and more people are unemployed and scrambling to get jobs.
#2. High Cost of Living
Here and there you need to save, how about paying PTPTN's debt? The existing commitment has left many quite burdened.
Not only is the existing commitment high however, the rising cost of living is making many people choose the path to avoid making education loan repayments.
#3. Low salary
Even though wages have gone up, it is still unable to cover the rising cost of living from the increase in total wages. That is, if there is an increase in the annual salary, if the salary does not increase, what will happen?
To overcome this problem, then there is no other way other than to do 2-3 jobs at a time. We need to be more creative to generate side income like doing business or doing other part-time work.
#4. No Responsibility
Lastly, there will be irresponsible people who refuse to make repayments even though they can actually afford it.
We need to cultivate a more responsible attitude and think about the future of the next generation who will use this PTPTN money to cover their learning.
Avoid selfishness and we must realize that debt is obligatory. Wouldn't we want to live labeled as human beings who lack integrity, distrust and shame on race and religion?
