Student Loan Fund encouraging borrowers to settle debts

Student Loan Fund encouraging borrowers to settle debts

 

PNSOC611206001000401.jpg

 

BANGKOK, 6th December 2018 (NNT) – The Student Loan Fund has launched a campaign to encourage borrowers to settle their student loan debts. 

According to the Student Loan Fund, borrowers who never missed a payment and those who are still in their leniency period or two years after graduation before having to make the first payment, are entitled to a 3% reduction on their principal or the total amount borrowed if they choose to settle debts under the campaign. For instance, if the principal is 400,000 baht, 3% or 12,000 baht will be deducted, bringing the total amount the borrower has to pay for settlement to 388,000 baht. 

As for those who have missed payments, they will get an 85% reduction on interest on the day of the settlement. For example, if the interest is 100,000 baht, the amount the borrower would have to pay on top of the principal is 15,000 baht. 

The new campaign is in effect from now until May 31st, 2019. 

Chainarong Kajchapanan, the fund manager, said the fund has more than 5.51 active borrowers who owe 75.4 billion baht. The average amount borrowed is 100,000 baht per person. Of all the debtors, only 40% of them have made their payments on time. And up to 1.1 million borrowers have been indicted.

 
nnt_logo.jpg
-- nnt 2018-12-06
latest news from Thailand

‘Eat, Shop, Spend’ wins 1m subscribers on very first dayBy The Nation  The “Eat, Shop, Spend” campaign earned an overwhelming response on Monday (September 23), the very first day of its launch, with close to one million Thais registering. Krungthai Bank set the daily limit for registration at one...

READ MORE...

Consumers’ rights to be protected under new MoUBy THE NATION  The Electronic Transactions Development Agency (ETDA) last week signed a memorandum of understanding (MoU) with major consumer organizations and private companies on a consumer protection initiative covering products and services sold...

READ MORE...

Farmers want solution to falling price of snapper fish  A group of fish farmers have called on the government to solve the problem of the falling price of snapper. Pramot Mongkolcheeva, a member of the group that raises snapper, said the price of the fish had fallen from Bt130-Bt140 per kilo to...

READ MORE...

Fears for Indian after he is swept away by flooded streamBy THE NATION A file photo, taken on September 23, of a flooded area in Kabin buri district of Prachin Buri province An Indian national has gone missing in a strong, overflowing stream amid floods in Prachin Buri province, prompting a...

READ MORE...
sponsors