Parents’ unemployment, pay cuts force more students to seek loans

By The Nation

 

Chainarong Kajchapanan, SLF manager

 

Thailand’s Student Loan Fund (SLF) said more students are seeking loans this year, especially since many parents have lost their jobs in the fallout of Covid-19.

 

Chainarong Kajchapanan, SLF manager, said on Monday that 628,000 students sought loans this year, compared to 538,000 last year, adding that the budget for student loans was subsequently increased to Bt37 billion from last year’s Bt34 billion.

 

He said this year saw more than 90,000 new borrowers, increasing the amount loaned out by Bt10 billion.

 

To be eligible for the loan, the student’s household income should stand at between Bt200,000 and Bt360,000 per year. This usually covers parents who earn between Bt20,000 and Bt30,000 per month and find it difficult to pay for their children’s education.

 

Chainarong said that though there have been more applicants this year, the allocated budget is enough to cover those affected by the outbreak.

 

Source: https://www.nationthailand.com/news/30397189

 

-- © Copyright The Nation Thailand 2020-11-02

 

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Why can't they give them grants and perhaps require some of the schools to reduce their tuition and fees?

10 minutes ago, John Drake said:

Why can't they give them grants and perhaps require some of the schools to reduce their tuition and fees?

What would the schools top director have to drive if that happened?

Make them loans. But give students the ability to work off the debt by working in the north and by achieving high grades

University fees have doubled in the past 2 years.

Wages haven't, so the students would need more loans even without COVID.

Prayut has allowed school and university fees to rise significantly since he seized power.

19 hours ago, overherebc said:

What would the schools top director have to drive if that happened?

He'd keep the Merc but the missus might have to down size.

2 hours ago, hotchilli said:

He'd keep the Merc but the missus might have to down size.

Maybe a smaller wife would be cheaper. Sorry ????????

Any country charging students for tuition is a doomed country. Looking on top of all this at those partly most ridiculous school uniforms ...... go figure!

I am sure that some of those students will resort to sugar daddies; this time not for new iPhones and other unnecessary gizmos but for financial survival ....... welcome to 2563 in Thailand! 

That will make the bankers, respectively their board of directors and investors, so happy: More property acquired by generations of hard working people to be swallowed in return for worthless numbers typed into a computer, and more students who will start their life as loan slaves at early age... Just like in the states, where the "future of our country" enters the job market with a minimum of 25k minus... How's that for a graduation gift? 

On 11/2/2020 at 4:23 PM, overherebc said:

What would the schools top director have to drive if that happened?

An old Merc? 

31 minutes ago, Freigeist365 said:

That will make the bankers, respectively their board of directors and investors, so happy: More property acquired by generations of hard working people to be swallowed in return for worthless numbers typed into a computer, and more students who will start their life as loan slaves at early age... Just like in the states, where the "future of our country" enters the job market with a minimum of 25k minus... How's that for a graduation gift? 

You beat me to it. 

On 11/2/2020 at 4:23 PM, overherebc said:

What would the schools top director have to drive if that happened?

An old pickup truck.