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Parents’ unemployment, pay cuts force more students to seek loans

Nov 02. 2020
Chainarong Kajchapanan, SLF manager
Chainarong Kajchapanan, SLF manager
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By The Nation

Thailand’s Student Loan Fund (SLF) said more students are seeking loans this year, especially since many parents have lost their jobs in the fallout of Covid-19.

Chainarong Kajchapanan, SLF manager, said on Monday that 628,000 students sought loans this year, compared to 538,000 last year, adding that the budget for student loans was subsequently increased to Bt37 billion from last year’s Bt34 billion.

He said this year saw more than 90,000 new borrowers, increasing the amount loaned out by Bt10 billion.

To be eligible for the loan, the student’s household income should stand at between Bt200,000 and Bt360,000 per year. This usually covers parents who earn between Bt20,000 and Bt30,000 per month and find it difficult to pay for their children’s education.

Chainarong said that though there have been more applicants this year, the allocated budget is enough to cover those affected by the outbreak.

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