Student Loan Fund allows borrowers to restructure their debt starting February 15th.

House, The government invites student loan borrowers to restructure their debt. Register for a contract appointment in advance on the website. www.studentloan.or.th Contract starts 15 Feb. 2024 onwards. Mr. Karom Phonphonklang, Deputy Spokesperson of the Prime Minister's Office, revealed that the government through the Student Loan Fund (SLF) is ready to enter into a debt restructuring agreement. To help and ease the burden of borrowers who are in the process of making repayments in accordance with the announcement of criteria, methods and conditions regarding student loan debt restructuring. and according to the Student Loan Fund Act (No. 2) B.E. 2023 Mr. Karom said that borrowers who have the right to enter into debt restructuring agreements include the pre-litigation group. The group that terminated the contract but has not yet filed a lawsuit The group has filed a lawsuit but the court has not yet given a verdict. The group for which the court has made a final judgment but has not yet enforced the case and has already enforced the case Including other groups By specifying conditions for borrowers to repay the fund in installments. Monthly at the same rate every month Borrowers must pay by the 5th of every month, within 15 years and in the final payment. Borrowers must be under 65 years of age and ready to start a contract. 'Debt restructuring By giving a maximum repayment period of 15 years, in the final payment the borrower must not be more than 65 years old. A 100% penalty discount will be given. The guarantor will be relieved of the burden after entering into a debt restructuring contract. Change the order of amortization from the original penalty, interest, and principal to deducting the portion of the principal that is due. Interest and penalties It allows borrowers to enter into debt restructuring contracts with the fund from February 15, 2024 onwards. Borrowers can register to make appointments for entering into contracts in advance on the website. www.studentloan.or.th During the first 3 months, th e fund will be open for people to make contracts every day, excluding holidays, from 9:00 a.m. - 8:00 p.m. and will give debtors the opportunity to make contracts in various provinces. throughout the country,' Mr. Karom said. Source: Thai News Agency