Bangkok: The Student Loan Fund (SLF) has unveiled its final debt reduction initiative aimed at incentivizing borrowers to clear their outstanding student loans with discounts on the principal. This opportunity is available until May 31, 2025.
According to Thai News Agency, the SLF is offering borrowers in the grace period and those in the process of repaying debts with no lawsuits filed a chance to benefit from a 5-10% principal reduction and a full waiver on penalty fees if they settle their debts in a lump sum. Eligible borrowers can register for these benefits by visiting www.studentloan.or.th, with the initiative running from March 1 to May 31, 2025.
Borrowers who are within two years of graduation and in the grace period can receive a 10% reduction on the remaining principal if they pay off their debts entirely. Additionally, those who make partial payments within the grace period can enjoy a 5% discount without the need for registration. The SLF will apply all accrued discounts at the end of the measure period to reduce the borrower's debt further.
For borrowers actively repaying debts without facing legal actions, a 10% principal reduction applies to those who have never defaulted and settle their debts fully. Borrowers who have defaulted but regained good standing can receive a 7% reduction if they clear their debts in one payment. Similarly, those currently in default can benefit from a 5% principal reduction and a full penalty waiver upon full repayment.
The SLF emphasizes that this initiative does not cover borrowers under the Human Capital project or those who have restructured their debts. Borrowers are urged to take advantage of this limited-time offer by registering at the SLF website before the deadline.