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Thursday, July 7, 2022

Student loan rate cut proposed

Students go through health and safety measures before going into a class at Matthayombanbangkapi School in Bang Kapi district. (Photo: Varuth Hirunyatheb)

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…

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