Respite offered for student loan holders

Respite offered for student loan holders

By THE NATION

The Student Loan Fund is taking steps to help ease the financial burden on borrowers during the economic slowdown caused by the Covid-19 contagion, fund manager Chainarong Katchapanan said on Wednesday (April 1).

The following measures will be available from April 1:

1. Annual interest rate will be cut from 7.5 per cent to 0.5 per cent for borrowers who have been paying on time. The rate will be effective from April 1 to December 31.

2. Payments made via direct debit will be cut down to just Bt10 per month from April 1 to June 30. This measure is only applicable to those working in the private sector.

3. Late fines will be cut by 75 or 80 per cent for borrowers who have a good payment record. This discount will run from April 1 to September 30.

4. A two-year grace period will be granted to borrowers who hold a state welfare card and who have a good payment record. Those interested can register at the Student Loan Fund’s website before May 31 and their next payment will be postponed to July 5, 2022.

5. Borrowers who earn less than Bt8,008 per month can delay their payments twice a year. During this period, borrowers will not be charged interest or fined for late payments.

6. The auctioning of a borrowers’ and/or guarantor’s properties that have been repossessed will be stopped until the end of the year, except for cases that expire before the said period.

Visit www.studentloan.or.th, Line @กยศ or email [email protected] for inquiries or additional information.

Source: https://www.nationthailand.com/news/30385205