{"id":3493,"date":"2009-02-13T16:59:55","date_gmt":"2009-02-13T08:59:55","guid":{"rendered":"http:\/\/poobalan.com\/blog\/?p=3493"},"modified":"2009-02-13T17:01:07","modified_gmt":"2009-02-13T09:01:07","slug":"mied-to-sue-4000-borrowers","status":"publish","type":"post","link":"https:\/\/poobalan.com\/blog\/indian\/2009\/02\/13\/mied-to-sue-4000-borrowers\/","title":{"rendered":"MIEd to sue 4000 borrowers"},"content":{"rendered":"<p>MIED is <a href=\"http:\/\/www.thestar.com.my\/news\/story.asp?file=\/2009\/2\/13\/nation\/3256437&amp;sec=nation\" target=\"_blank\">getting tough<\/a> since its not being able to get the borrowers to pay back. I remember few years back, MARA took some drastic measures like publishing the defaulters name, asking to be blacklisted so that cannot leave the country, sending lawyer notice etc. MIC may have to do the same as well in MIED&#8217;s case.<\/p>\n<p>9000\/12,500 is a mindblowing 72% default rate!<\/p>\n<p>RM90 million \/ 9000 students is averaging RM10,000 per student.<\/p>\n<blockquote><p>ABOUT 4,000 students who have failed to repay their loans to MIED, theducational arm of the MIC, will be blacklisted and taken to court, reported <em>Tamil Nesan.<\/em><\/p>\n<p>MIC president Datuk Seri S. Samy Vellu said that the MIED had given educational loans to 12,500 students since 1984 and about 9,000 had failed to repay their loans which amounted to RM90mil.<\/p>\n<p>He said MIED decided recently that in future, students would only be given a maximum of RM40,000 for the first year and for the subsequent years, it would depend on their educational grades.<\/p>\n<p>He said MIED also decided that parents should start repaying the loans after six months even when their children were studying and need not wait till they completed their studies.<\/p><\/blockquote>\n<p>However, the part where parents have to start repayment after 6 months of loan disbursement is a bit hard since some of the borrowers may be from low income families.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MIED is getting tough since its not being able to get the borrowers to pay back. I remember few years back, MARA took some drastic measures like publishing the defaulters name, asking to be blacklisted so that cannot leave the country, sending lawyer notice etc. MIC may have to do the same as well in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[117,19,84,24,86,225,104],"class_list":["post-3493","post","type-post","status-publish","format-standard","hentry","category-indian","tag-crime","tag-education","tag-funds","tag-mic","tag-mied","tag-politicians","tag-statistics"],"_links":{"self":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/3493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/comments?post=3493"}],"version-history":[{"count":3,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/3493\/revisions"}],"predecessor-version":[{"id":3495,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/3493\/revisions\/3495"}],"wp:attachment":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/media?parent=3493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/categories?post=3493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/tags?post=3493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}