Student loan agreement goes into effect

 

 

The Employer’s Confederation of Thailand (ECOT) have signed a memorandum of understanding with the Student Loan Fund (SLF) in a new move to address the problems of debt default on Thursday (Oct 12).

 

Under the MOU signed, employers will allow the SLF to deduct its borrowers’ debt repayments from their salaries.

 

The move came after the 2017 Student Loan Fund Act becomes effective in the government’s effort to resolve debt defaults by borrowers, particularly students.

 

Full story: http://englishnews.thaipbs.or.th/student-loan-agreement-goes-effect/

 

 

-- © Copyright Thai PBS 2017-10-14

1 hour ago, rooster59 said:

the problems of debt default

It's a genetic thing with Thais along with having no paternity gene.

That's just selfish when people get a student loan, then refuse to pay it back. That money is desperately needed for new students that cannot afford to educate themselves. There also needs to be a law for people the get jobs overseas and don't pay back their student loan. Such as restrictions on their passports. 

3 hours ago, rooster59 said:

deduct its borrowers’ debt repayments from their salaries.

They would need to get officially tax paying jobs first.