New measure to deal with Student Loan Fund debtors

Students who took out loans from the government’s Student Loan Fund and are now employed in government service or in private sector will, from now on, will have their monthly pay deducted at a certain amount by their employers and returned to the Fund through the Revenue Department.

Employers of government and private sectors are duty-bound to deduct the loan instalment from the monthly salaries of their employees who are debtors to the Fund under the revised Student Loan Fund Act which has become enforceable since its publication in the Royal Gazette on January 27.

According to the revised law, employers are required to bring the loan instalments they deducted from their employees who are debtors to the Fund to their respective revenue offices in the same way as they do with income taxes.

The employers who fail to pay the loan instalments to the revenue offices or who pay later than the deadline will have to bear the burden on behalf of the fund debtors.

Through this new measure, student loan debtors will find it difficult to dodge paying back to the Fund after their graduation.

The Fund has chalked up substantial amount of unpaid loans as many debtors have refused to pay back after their graduation.

Source: Thai Public Broadcasting Service (Thai PBS)

Post Author: tmadmin