50% discount on MARA study loans for students who fail

Mara 50% study loans for students who fail. Mara chairman says the offer is to ease the burden of students who have failed in their studies and have to pay 100% of their loans

Majlis Amanah Rakyat (Mara) is offering a 50% discount to Mara education loan borrowers who have failed to make the grade in their respective fields, said its chairman Annuar Musa.

Annuar said the offer was given to students who failed to complete their studies for whatever reason, including those facing legal action in court, regarding the loan.

“Where previously students who failed in their studies had to pay 100% of their loans, we have decided to ease their burden by offering a 50% discount on their loan balance,” he told reporters at the Parliament lobby here yesterday.

Related item: Check out Panduan Mengisi Borang Permohonan Pinjaman MARA

At the press conference, Annuar said borrowers in 2010 and those who had graduated before that but did not get a refund and reduction facilities, were offered a discount of 50% on their loan balances on March 25 but now they get an additional 20% discount.

Annuar, who is also the MP for Ketereh, said the offer was subjected to the borrower making a lump sum payment from the outstanding loan amount.

He said applications must be made online at insentif50.mara.gov.my and will be open until Dec 31 this year.– BERNAMA