NO NEED TO PAY , YA?

Today STAR paper headline

VIPs blacklisted for not paying study loans

According to the National Higher Education Fund
Corporation chief executive Yunos Abd Ghani, these
includes YBs, Datuks, professionals and celebrities
were among 26000 odd people owing the fund foundation
a whopping RM400mil!!
He said the corporation had to resort to barring the
defaulters from leaving the country“This (overseas travel
ban) has been an effective method as they have no
other alternative but to settle what they owe,” he told
The Star.

Well, I thought that was a good move barring those loan defaulters
from leaving the country BUT, ah read this carefully and slowly...

Of the 26,627 names submitted to the Immigration
Department since the corporation started recommending
the travel restriction in August last year, 4% or 1,018
had settled their loans amounting to more than
RM20mil, he said.

ONLY 4% or 1,018 people out of the 26000 and yet the CEO
Yunos said it was an effective method!!! OMG!!
People owing you RM400 million and they paid RM20 million
and you were soooo happy and contented.
It should be the other way around!! That the foundation had
collected RM 380 million from those loan defaulters and
only RM 20 million yet to be collected!! Isn't it? Then only you
can declared that method of travel restriction was effective lah.

But the following statement from him take the cake...
Yunos said barring defaulters from going overseas was a
last resort.
What? Last resort? No other ways to get back the RM 380million?
Why, has the foundation try using bad debts collectors?
Go and consult those credit card companies on how they collect
the dues from their borrowers.
Why can't these defaulters be charged in courts for bankruptcy, ah?

If the National Higher Education Fund Corporation is a private
finance institution, I think it would 'tapau' or bungkus a long,
long time ago!!

DAMMIT!!