It has been approximately a year since I managed to paid off my student loan debt through the 20% rebate program with full settlement. Upon the final payment, I was told that the finalized amount will be issued within six months after that date.
I would check the online statement from time to time to remind myself that it is possible to finally be able to settle the debt. It act as a form of motivation for me in black and white.
Unfortunately, the statement shows there is amount due to me amounting to RM 76.55. It is a small amount, not an issue. However it is disappointing when they go all out to chase outstanding payment due to them but keep silence when they are doing it. A friend of mine faced the same issue and now its my turn to faced the music.
I finally went to the OSC to inquire on this in August, long after the six months period of finalization. I filled in a form and provided my bank account number to have the balance transferred to my bank account. A very straight forward and simple process. They must have encountered this issue numerous times. The lady at the counter handle my questions with breeze.
Me: What will happened to the balance if I do not request for it?
The lady: It will remain there.
Well, thankfully they do not have any grace period for refund. Probably it is not so bad after all. They are quiet lenient compared to financing institution when dealing with those in default. Unless you want to count the days lost when you could have used the balance to finance other debt.
I was told that the amount will be transferred to my account within 21 days. However, it took less than that duration for them. It was merely about 2 weeks. Kudos.
Alhamdulillah.
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