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

Army chief’s attempt to shut down election talk of budget cuts backfiresBy Jitraporn Sennawong, Nattaphat Phromkaew The Nation  The Army chief’s attempt to scare politicians off discussing the Army budget and reform by indirectly calling them “enemies of the state” has instead backfired, as many...

READ MORE...

Thai baht surges against weakening US dollarBy The Thaiger  The Thai baht is soaring to its highest level against the US dollar in more than half a decade. Analysts are expecting the Thai currency to continue marching past the 31 baht to the US dollar mark. Currency experts believe the baht’s...

READ MORE...

Big Joke: Busts another visa agent using fake stamps - practice on the rise  Komchadluek reported that the prevalence of unscrupulous visa agents issuing bogus stamps is on the rise.  The agents are the target of immigration chief Lt-Gen Surachate "Big Joke" Hakparn. Following last week's arrests...

READ MORE...

Mother tongue-based education is changing lives in deep SouthBy Rita Shibata, Kirk Person Special to The Nation  Think back to your very first day of school. Now imagine what it would have been like if you could not understand the language that your teachers were speaking. What would that be like?...

READ MORE...
sponsors