Student Loan Fund reduces default fines by 80%
The Student Loan Fund has reduced its fines by 75-80% for borrowers who have defaulted on their repayments, in a bid to curb student loan defaults, SLF manager Chainarong Katchapanan said.
The fund has extended loans to 5.6 million borrowers since its launch in 1998. Of them, 3.5 million are in the process of repaying the debts while over a million have successfully paid off all of their loans. Some 976,000 loan recipients have been given a two-year grace period prior to repayment, Mr Chainarong said.
Wichit Chantanusornsiri
