The new repayment scheme for the National Higher Education Fund (PTPTN) borrowers has been suspended pending further consultation.

"The ICLR (Income-Contingent Loan Repayment) PTPTN scheme will be suspended for the time being until we receive the collective input and feedback from all stakeholders," Education Minister Maszlee Malik said in a tweet today.

Depending on their salaries, the ICLR scheme would have seen PTPTN borrowers earning more than RM2,000 a month having to pay between two and 15 percent of their wages on their loan repayments.