Project Launched To Release Educational Loans To Farmers

[Jai Dee]

BAAC launches project to release educational loans to farmers

The Bank of Agriculture and Agricultural Cooperatives (BAAC) launches a project to release educational loans to farmers and the general public. The loans, totaling more than 500 million baht, will be provided to elementary to doctoral students.

Vice Manager of BAAC Sommanas Suwanmena (โสมนัสส์ สุวรรณเมนะ) reveals that the loans will cover education fees and other costs of learning. The project has an objective to resolve the problem of loans from non-financial institutions. BAAC customers and their children can use sureties they earlier pledged with the bank to ask for the loan which has an interest rate of 7% a year. The period of loan payments ranges from 1- 15 years. As for the general public, they can use their bank account or BAAC’s bonds as sureties.

Mr Sommanas expects that BAAC will release the educational loans of not less than 500 million baht within this year.

Source: Thai National News Bureau Public Relations Department - 18 May 2007

[richard10365]

Does that mean that people who only M6 and above students can get the loans or can others who never went past M3 get a piece of the pie?