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Student Loan Fund hikes living allowance, denies quota or funds crunch

Jul 31. 2020
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By THE NATION

The Student Loan Fund (SLF) has denied rumours that a loan quota will be implemented for academic year 2020 due to the Covid-19 situation, while confirming that borrowers will get increased living allowance by Bt600 per month.

“Many parents have expressed concern that the outbreak situation and economic contraction will force the fund to enforce loan quota for each institute,” SLF manager Chainarong Katchapanan said on Friday (July 31).

“The SLF would like to ensure that there will be no quota limit on loan amount, and the fund has adequate money for every student who wishes to apply for a loan.”

According to Chainarong, SLF has set up a budget of Bt34 billion for new and existing borrowers in academic year 2020, which it estimated should be around 590,000 students.

“We have adjusted the eligibility of borrowers for this year from those having annual earnings not exceeding Bt200,000 to not exceeding Bt360,000 so that wider groups of parents can apply for loans for their children, as well as extend the loan application deadline to September 30,” he added.

“Furthermore, to help alleviate the financial burden of borrowers during the Covid-19 situation, SLF will increase living allowances granted to borrowers by Bt600 per person per month. Borrowers at high-school level will receive Bt1,800 allowance instead of Bt1,200, while those in college and university level will receive Bt3,000 allowance instead of Bt2,400,” added Chainarong.

“To promote social distancing practice during the Covid-19 situation, borrowers can check their loan status online via https://wsa.dsl.studentloan.or.th or by downloading the SLF Connect mobile application,” he said.

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