Thailand’s Student Loan Fund expands reach to address ageing society needs

[webfact]

 

The Student Loan Fund (SLF) in Thailand, managed by Chainarong Katchapanan, has announced its plans to extend its loan services to all working-age adults, aged between 18 and 65. The move, aimed at upskilling and reskilling, is in response to Thailand’s shift towards an ageing society.

 

This initiative will be implemented by the end of this year, marking the first time since its establishment in 1996 that the fund has expanded its reach beyond formal educational institutions.

 

The decision aligns with the policy to broaden educational opportunities as outlined in the revised Student Loan Fund Act of 2023. Furthermore, around 200 institutions that provide nursing care education, another critical need in an ageing society, are expected to benefit from this loan scheme by the year-end.

 

The loan amount will be limited to 50,000 baht per borrower, targeting approximately 2,000 individuals. The reorientation of the fund is attributed to its recognition of non-formal educational institutions, such as vocational institutes, which offer essential short courses of up to 150 hours for workforce upskilling or reskilling. Short-course study programmes include hotel management, underwater welding, and spa therapy, in addition to caregiving.

Students seeking a loan must enrol in a study programme, not exceeding one year, at a non-formal educational institution accredited by the Office of the Private Education Commission. The loan has a two-year grace period, followed by a two-year debt repayment requirement.

 

by Alex Morgan

Image by monthirayodtiwong

 

Full story: The Thaiger 2023-09-21

 

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[RichardColeman]

4 hours ago, webfact said:

The loan amount will be limited to 50,000 baht per borrower, targeting approximately 2,000 individuals. The reorientation of the fund is attributed to its recognition of non-formal educational institutions, such as vocational institutes, which offer essential short courses of up to 150 hours for workforce upskilling or reskilling.

50000 baht course for 150 hours seems a bit of a con. 333 baht an hour is more than a days wage per hour - course owners would be raking it in

[hotchilli]

16 minutes ago, RichardColeman said:

50000 baht course for 150 hours seems a bit of a con. 333 baht an hour is more than a days wage per hour - course owners would be raking it in

They always do..

[Srikcir]

4 hours ago, webfact said:

extend its loan services to all working-age adults, aged between 18 and 65.

But?

4 hours ago, webfact said:

targeting approximately 2,000 individuals

Ages 18-65 covers about 47% of the resident Thai population as of July 2023.  https://www.statista.com

or about 33.8 million (72 million x 47% @ mid year 2023).

https://www.worldmeters.info

 

So the target is meaningless, even for statistical purposes to measure usefulness and effectiveness of the proposed SLF expansion, especially across the whole of Thailand? 

 

Absolutely the expansion of SLF is needed. Albeit, no mention of population or working population coverage now.

 

Since about 2009 to 2022 there has been a decline of Thai labor force with advanced education (% of total working-age population with advanced education) from about 88% to 81%. Note the labor force population rate is ages 15+.   https://data.worldbank.org

 

So the proposed expansion is like throwing a handful sand into the ocean. You can't even measure its impact.

[kingstonkid]

5 hours ago, webfact said:

 

The Student Loan Fund (SLF) in Thailand, managed by Chainarong Katchapanan, has announced its plans to extend its loan services to all working-age adults, aged between 18 and 65. The move, aimed at upskilling and reskilling, is in response to Thailand’s shift towards an ageing society.

 

This initiative will be implemented by the end of this year, marking the first time since its establishment in 1996 that the fund has expanded its reach beyond formal educational institutions.

 

The decision aligns with the policy to broaden educational opportunities as outlined in the revised Student Loan Fund Act of 2023. Furthermore, around 200 institutions that provide nursing care education, another critical need in an ageing society, are expected to benefit from this loan scheme by the year-end.

 

The loan amount will be limited to 50,000 baht per borrower, targeting approximately 2,000 individuals. The reorientation of the fund is attributed to its recognition of non-formal educational institutions, such as vocational institutes, which offer essential short courses of up to 150 hours for workforce upskilling or reskilling. Short-course study programmes include hotel management, underwater welding, and spa therapy, in addition to caregiving.

Students seeking a loan must enrol in a study programme, not exceeding one year, at a non-formal educational institution accredited by the Office of the Private Education Commission. The loan has a two-year grace period, followed by a two-year debt repayment requirement.

 

by Alex Morgan

Image by monthirayodtiwong

 

Full story: The Thaiger 2023-09-21

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

OK I bite how does putting people and the country in more debt help anyone or anything.

 

I thought people were supposed ot be trying to get out of debt.

 

Taking out a loan at age 50 mens that you will be further in debt and have less money to live on when you get our pension.

 

Remnds me of the 200,000 baht off taxes car deal.  That worked so well banks are still trying to collect and resell cars.