Student Loan Fund scraps requirement for guarantors
The Student Loan Fund has prepared measures to help alleviate the financial burden of borrowers amid an economic recession caused by a fresh wave of Covid-19, manager Chainarong Katchapanan said on Wednesday.
“New borrowers in academic year 2021 will no longer require a personal guarantor,” he said. “Furthermore, we will reduce the interest to 0.01 per cent annually for borrowers who have not been charged with payment ‘delinquencies’. This interest rate will be valid from May 1 to December 31.
The fund’s other aid measures that were to expire on June 30 will also be extended to December 31. They are:
- Exemption of a fine for borrowers who wish to pay all their debts and close their accounts before the due date of the contract.
- Reduce the fine for late payment by 80 per cent for borrowers who have not been charged with payment delinquencies.
- Reduce the principle by 5 per cent for borrowers who have not been charged with payment delinquencies and wish to pay all their debts and close their accounts before the contract is due.
- Halt the auction of borrowers’ and/or guarantors’ properties that had been repossessed due to execution of a court sentence until the end of 2021, except for cases that will expire before this period.
For further information or inquiry, visit www.studentloan.or.th or Line account @กยศ. Or call 02-016-4888.