A government spokesperson revealed that the new law for the Student Loan Fund has a beneficial effect on all borrowers. Reduce the penalty from 18% to 0.5% per year, helping the guarantor escape the burden. Ready to end all legal enforcement actions until the debt amount is recalculated. It was revealed that the government is preparing the 2025 budget to replenish the liquidity fund on May 15, 2024. Mr. Chai Watcharong, spokesman for the Prime Minister’s Office, revealed that Mr. Settha Thavisin, Prime Minister, gave It has always been important to the problems and operations of the Student Loan Fund (SLF). We have overseen and integrated cooperation between related agencies. Change the new law of the Student Loan Fund to create an ecosystem for fair borrowing. This is an important condition that will lead to a stable financial system in line with the role of a legitimate debt regulator. Ready to confirm that When you are in debt, you must pay the debt. But it must be based on a fair structure. In the case of the Social Welfare Commission House of Representatives Mentioning the performance of the Student Loan Fund, which was found to lack liquidity. and there are debtors who have defaulted on debt payments of more than 9.7 billion baht A spokesman for the Prime Minister’s Office explained that the problem of defaulting on debt payments In fact, there is the root of the problem that has accumulated for a long time. The pattern of paying per installment increases every year. There is a penalty of 18% per year, even though the interest is 1% per year and there is a sequence of debt payments that no matter how much you pay, it doesn’t reach the beginning. Regarding the enforcement of the new law. It will be more beneficial to the debtor. Start with the Student Loan Fund calculating the new debt amount. Including reducing the penalty from 18% to 0.5% per year, increasing/alternating the number of payment installments. and adjusting the order of debt write-off to cut off the principal first. This will reduce the outstanding principal burden, for example from 210,000 baht to 51,000 baht, etc. In addition, the new Student Loan Fund law also cancels guarantors. To raise the standards of creditors who must be responsible and fair. In the case where the borrower has the potential and ability to repay the loan himself, the new law will benefit all 3.6 million borrowers and 2.8 million guarantors who will be freed from the burden. and in the case where the debtor defaults, the account has not yet been closed. There will be a significant reduction in outstanding debt. and will stop all executions until the debt amount is recalculated. The Student Loan Fund has a duty to ensure that the statute of limitations is not expired. At the same time, the government has prepared the 2025 budget to replenish the Student Loan Fund to ensure the fund’s liquidity appropriately. Go to the spokesman for the Prime Minister’s Office. Specify at the end that “The Prime Minister wants to help youth. Reduce inequality To have the most educational opportunities Because youth are the main force in national development, however, every borrower must be responsible. When you are in debt, you must pay the debt. But the government understands that it must be in accordance with fair structural principles. Confirming that what the government has always done is to ensure that everything is in order. Under consideration of the overall picture of a just and equal society.”
