https wsa dsl studentloan or th Digital Student Loan Fund
The Student Loan Fund (SLF) in Thailand is a government initiative established in 1996 to provide financial assistance to students pursuing higher education.
It aims to promote greater access to education, leading to a better quality of life and more equity in society.
Digital Student Loan Fund
Loans will be capped at 50,000 baht per borrower, with a target of 2,000 people.
The average monthly installment for a two-year loan with a principal amount of 50,000 baht is 2,000 baht.
The revised SLF statute brought down the late payment penalty from 7.5% per annum to 0.5 percent, but the interest rate on loans remains at 1%, the lowest in the country’s banking sector.
Six and a half million students have benefited from the fund’s 700 billion baht in loans.
With 350,000 borrowers, the total amount of outstanding loans is 350 billion baht.
Some borrowers, however, have not paid back their loans by the specified date, and this represents over 30% of the total amount owed (90 billion baht).
The fund raised the loan cap for the 2023–2024 school year by 13%, from 40.7 billion to 46.1 billion baht, to accommodate the higher demand for student loans. The number of students receiving loans increased by 117,000 to 760,000.
There was a total of 25.7 billion baht owed as of September 12, 2023.
Recent developments in the SLF:
1. Expansion to non-formal education: The SLF will be available to all working-age adults (18-65 years old) for upskilling and reskilling in non-formal educational institutions by the end of 2024. This is a significant shift from its previous focus on formal education.
2. Increased loan limit: The maximum loan amount for students pursuing short courses (less than 150 hours) in non-formal institutions has been increased to 50,000 baht per borrower.
3. Reduced penalties: The fine for late payments has been reduced from 7.5% annually to 0.5%, making it more manageable for borrowers facing financial difficulties.
You can find more information about the SLF in the following resources:
1. The Student Loan Fund and the Education for All in Thailand: https://www.igi-global.com/chapter/the-student-loan-fund-and-the-education-for-all-in-thailand/296417
2. Student Loan Fund available for all adults: https://www.bangkokpost.com/business/general/2650427/student-loan-fund-available-for-all-adults
Important Note: The SLF is a government-run program in Thailand, and there doesn’t appear to be a specific “Digital Student Loan Fund” in the country at this time. The resources above should provide the most relevant and up-to-date information on student loans in Thailand.
