Some help for students in debt

These people are among 26,149 cases with Bt3.25 billion in overdue debt that referred to the Legal Execution Department for legal processing, Khwanrapee Julapimpun deputy head of the department, said recently. 

The department had seized assets of some 1,000 debtors or their guarantors to be auctioned off. The proceeds would be applied to debt repayment first and the remaining money would be given back to the former asset owners, he said.

Kamjorn Tatiyakavee, permanent secretary for the Education Ministry, said the ministry would pass on information on its personnel who were in default to the Student Loan Fund or the Income Contingent Loan scheme so that their wages could be deducted. 

There were 19,437 such staff who were customers of the former (SLF) and 944 of the latter (ICL scheme). 

Those employees who had already started paying instalments to the Student Loan Fund could still join the event and take advantage of the discount, worth three months, he said.

Prasart Seubkha, chairman of the Council of University Presidents of Thailand, said asset foreclosures by the Legal Execution Department would set a good example to younger students to be more responsible with their financial obligations after graduation. 

The issue would be raised during the council’s meeting at Naresuan University on October 25, so universities could organise activities to instil good values in students in regard to repaying their government loans so that other needy kids can get an opportunity to further their schooling.