Weekly Industry News

Homeownership helps young people with financial management

Weekly Industry News

OWNING a home encourages young people to be more prudent with their money, Housing and Local Government Minister Zuraida Kamaruddin said.

This, she added, will also make defaulters of the National Higher Education Fund Corp (PTPTN) who are in the country’s credit reference system (CCRIS), be more responsible with their loan repayments.

“Owning a house is more attractive than paying RM50 monthly for a PTPTN loan.

“If they want to live in their houses for a long time, they must manage their finances well and pay the house loans,” she told the press after launching the “Hi Homes” portal in Kuala Lumpur yesterday, adding that with financial discipline, one can successfully manage both student and house loans.

When the government announced that it was working on a scheme to allow blacklisted PTPTN borrowers secure loans to buy their first homes, there were mixed reactions.

Media Title:  The Malaysian Reserve

Date: 26 Jul, 2019

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