The interest rate for the Student Loan Fund will be lowered to reduce the burden on borrowers, says permanent finance secretary Krisada Chinavicharana.
A draft law to amend the fund set the new interest rate at a maximum of 2%, down from the current maximum of 7.5%, he said.
The House of Representatives passed the first reading of the draft law. The House is expected to have a second and third reading this year.
Mr Krisada said the fund has never charged the maximum rate in its 20 years of existence, maintaining the rate at 1%.
During the pandemic, the fund reduced the rate…