Government Emphasizes Responsibility Among Student Loan Fund Borrowers to Prevent Default

BANGKOK: The government has issued a stern warning to borrowers of the Student Loan Fund, highlighting the importance of timely repayment to avoid incurring interest, penalties, and potential legal action. Borrowers are urged to act ethically and responsibly to ensure the sustainability of educational funding for future students. According to Thai News Agency, Deputy Government Spokesperson Mr. Karom Polpornklang addressed concerns arising from social media posts in which individuals claiming to be Student Loan Fund borrowers encouraged others to evade debt repayment. Mr. Karom underscored that such actions are not only irresponsible but also illegal, potentially jeopardizing the opportunities for students who rely on the fund for educational support. Mr. Karom explained that the Student Loan Fund is a government initiative designed to enhance educational opportunities and develop the country's human resources. The fund operates using money from the national budget and repayments from previous borrowers, cr eating a revolving fund to assist new students. With low-interest rates of 1 percent per year, a repayment period of up to 15 years, and flexible terms, the fund emphasizes the importance of repayment to sustain its mission. Borrowers failing to meet their repayment obligations face increased interest, penalties, and the possibility of legal action. Mr. Karom advised those experiencing financial difficulties to contact the Student Loan Fund for potential debt restructuring solutions.