Student loan takers cite low income and misunderstanding in failure to repay loan

0
1189

BANGKOK, 2 July 2014  – The Education Council has discovered from research that students who failed to pay back the Education Loan Fund either claimed they did not earn enough income or they were of the understanding that the loan did not have to be repaid.

According to Associate Professor Chawani Thongrot, the deputy secretary-general of the Education Council, a recent study in Khonkaen provincen indicated that nearly 128,000 borrowers have yet to pay back their loans. Most of the borrowers either claimed they earned insufficient income or misunderstood that they did not have to pay back the loans.

To solve the problem, Dr. Chawanithere said, there must be more public relations activities that reach the borrowers. The criteria for minimum income warranting repayment of the loan of the borrowers should also be adjusted to 15,000 baht per month. Employers should also be asked to deduct the monthly repayment amount from the borrowers’ paychecks and pay the deducted amounts directly to the fund.