Settle your PTPTN and reapply the loan.

Should be no problem already.

Technically speaking you cannot proceed because you would need to submit your stamped S&P, which in your case, you cannot get financing from the bank. If you postpone, I think your allocation would be given to someone else, and you have to que for the next batch like anyone else. Better get you PTPTN outstanding sorted out first. Some banks are offering a loan to settle your PTPTN so it can clean up your CCRIS score. My advice, try to sort that one out first before anything.