The Thai government has agreed to extend the deadline for student loan reprieves to June 30th next year, Deputy Government Spokesperson Rachada Dhnadirek said today (Wednesday).

 

According to the debt easing measure, the interest rate charged on student loans will be slashed from 1% per annum to 0.01% for borrowers who have not defaulted on repayments. The principal amount will be reduced by 5% for borrowers who have never defaulted and who want to settle the outstanding amount as a lump sum.

 

The amount of fines will be cut by 80% for borrowers who have not been taken to court and who want to settle their outstanding debt. The fines will be reduced to 0.5% of the amount outstanding for borrowers who cannot settle overdue amounts but have not been taken to court. There will be no fines for any borrowers who agree to settle their loans in full.

 

Full Story: https://www.thaipbsworld.com/deadline-extended-by-6-months-for-student-loan-borrowers-seeking-reprieve/

 

-- © Copyright Thai PBS 2022-12-14

 

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10 hours ago, snoop1130 said:

The principal amount will be reduced by 5% for borrowers who have never defaulted and who want to settle the outstanding amount as a lump sum.

Cloud cuckoo land these people - if a student cannot pay 100% of his loan off in one lump sum, I very much doubt they can pay off a 95% sum discounted figure !

Sounds like a right old mess to me....

Oh dear.

Student loans. A borrowed cultural entity I might add.

It hasn't come to that has it?