I'm in the same situation with you. I also borrowed for 2.5 years only.

Yes you have to and should pay back. You can choose to pay back 1 shot or by installment, for me, I pay back by installment.

How long have you terminate your contract with PTPTN? normally after 6 months, they'll start to ask you to pay, regardless you are still studying or not, those stupid brainless ppl there asked me to pay back my loan when i still in my 3rd year, even though when i terminate the contract, got some stupid ppl ask me to take signature from my dean to apply for something call "penangguhan bayaran balik" which so call can enable me to start paying after i grad but after 6 months they still ask me to pay. and when i call back to ask about the stupid surat penangguhan balik thing, they say it's useless wan.. if useless then in the 1st place y they ask me to apply? this ppl working there really no hope.

and btw, we also not entitled to get the 3% to 1% interest conversion as they say I "break" contract... zzzz..