Debt, debt, debt...
When I glanced over my PTPTN education loan statement, my heart skipped a heartbeat! What??!! So many balance left ??!! Die la like this… When am I be able to pay-off my debt??! One tough question to answer. Been haunted by this same old question since I graduated 5 years ago. * sigh*
I’ve been obediently paying since these few years. Starting with as little as RM80 per month when I got my first job. The pay was really small back then. The instalment amount progresses through the years but apparently it is not enough. 3% administrative costs (Kos pentadbiran) are automatically charged on total loan balance every month. Wonder why they call it "Admin Costs" instead of “Interest”? Whatever they call it, it sucks. Hey, don’t form your assumption just yet okay, I’m not an ungrateful person ya! In fact, I am very grateful that the government had reduced the admin costs to the existing percentage. If it still 4%…then lagi la mampus!! Now if only they can reduce it by 1% more…..then it’ll be most welcome, especially in this recession time. Won't it be nice ? :) Diberi betis mau paha lagi bah kan…Hmm,human nature. LOL.
As they say, “ A borrower can repay an amount greater than the fixed instalment. A reduction of instalment amount is not encouraged as it’ll increase the administrative costs thus raising the total loan amount.” Noted. But, it’s easier to say than done. If I can afford to pay more, I’ll definitely do so.
I’ve been obediently paying since these few years. Starting with as little as RM80 per month when I got my first job. The pay was really small back then. The instalment amount progresses through the years but apparently it is not enough. 3% administrative costs (Kos pentadbiran) are automatically charged on total loan balance every month. Wonder why they call it "Admin Costs" instead of “Interest”? Whatever they call it, it sucks. Hey, don’t form your assumption just yet okay, I’m not an ungrateful person ya! In fact, I am very grateful that the government had reduced the admin costs to the existing percentage. If it still 4%…then lagi la mampus!! Now if only they can reduce it by 1% more…..then it’ll be most welcome, especially in this recession time. Won't it be nice ? :) Diberi betis mau paha lagi bah kan…Hmm,human nature. LOL.
As they say, “ A borrower can repay an amount greater than the fixed instalment. A reduction of instalment amount is not encouraged as it’ll increase the administrative costs thus raising the total loan amount.” Noted. But, it’s easier to say than done. If I can afford to pay more, I’ll definitely do so.
Ah, how wonderful it will be to have a debt-free life! IF ONLY I win the Jackpot! * wink-wink* I swear I'll use it to repay ALL my debt. *smile*
On the other hand, there are ppl that I know of that couldn’t be bother with repaying their loan. How can they just ignore it?? Being indebted really worries me. It’ll probably continue to bug me until the day I managed to pay-off the whole loan and get rid of it once and for all. I don’t want to grow old, retired but still indebted. Better stop thinking and worrying about this sort of thing…before I get paranoid with it.