Barrier to online repayment : A case of PTPTN loan / Mohd Adib Mohd Salleh @ Salih

PTPTN known as National Education Higher Fund Corporation has been
considered as the traditional approach for supporting tertiary education in Malaysia.
PTPTN provides educational loans for tertiary education level in Malaysia for qualified
applicants and managing repayment process for ex-students at the same time. The
National Education Higher Fund Corporation (PTPTN) has a deficit of RM7 billion.
PTPTN ran out of funds in 2003 and had to borrow RM2 billion from the EPF to keep
the tap going due to the small number of PTPTN borrowers who repay their loans.
PTPTN borrowers refuse to repay and settle their loans because of some barrier occur
during online transaction and not satisfied with the current requirements for the
transaction process. Online payment is a new technology that will make our life less
complicated with less money presence a fast and a secure payment transaction could be
made based on a system that has been programmed to transfer fund from one account to
another recipient account. This method is one of the best methods since it is easy
accessible, saves time and reduce expenses. This research will reveal the barrier towards
the current online repayment system of PTPTN loan. A total of 200 samples of PTPTN
borrowers were chosen around Klang Valley but only 115 respondents gave feedback by
answering the distributed questionnaires. Statistical analysis was carried out in order to
obtain the intention results required by the objective that have been stated in the early
stages of the research. A test was carried out on variables that are important in
determining its significance to the hypothesis statement. Based on the findings and
results, all objectives were successfully achieved with findings such as the most
influence barrier towards the current online repayment system of PTPTN loan.