Crackdown On Students Loans

[george]

Loans :Student defaulters warned as Bt2.67 bn still to be repaid

BANGKOK: -- A total of Bt2.67 billion owed by students to the Income Contingency Loan (ICL) has not been paid, ICL manager Thittima Wichairat said yesterday.

She called on the 1.8 million students involved to make an effort to repay the loan before July 5. If they could not, they should contact ICL offices or Krung Thai Bank, which granted the loans, to discuss debt leniency plans.

A total of 2.7 million students have obtained around Bt230 billion in loans from ICL since its establishment in 1996. Overdue payments will be subject to a 12-per-cent fine for those that are a year late, and 18 per cent for two years late.

Suwimol Jiraphatsakul, a senior KTB official, urged ICL debtors to keep in constant contact with the bank to benefit from its leniency options rather than face lawsuits. She warned people against obtaining low-interest loans by cheating about their qualifications, saying they would face demands for immediate repayment and heavy interest if caught.

--The Nation 2007-06-19

[Scott]

How about having them face fraud charges for lying!

[The Vulcan]

Potential economists or budding politicians?

[MrSnrang]

They can subsidize diesel for years but they can't do the same for student loans?