Bangkok: "Chulaphan" insists he never said the Student Loan Fund lacked liquidity. Chulaphan Amornvivat, Deputy Minister of Finance, addressed the ongoing concerns regarding the Student Loan Fund (SLF) during the extraordinary session of the House of Representatives. The session, which focused on the 2026 fiscal year budget, saw Chulaphan responding to inquiries from Mr. Pris Wacharasindhu and Mr. Parami Waijongcharoen, both MPs for the Prachachon Party, concerning the SLF's financial stability and budget allocations.
According to Thai News Agency, Chulaphan clarified that the deduction of 3,000 baht from loans has been postponed since June, urging borrowers to restructure their debts. Out of approximately 500,000 eligible borrowers, the government has restructured debts for 240,000 individuals and closed accounts for around 3,300. Addressing rumors of the SLF's insolvency, Chulaphan reassured that the fund is not bankrupt and confirmed that previous beneficiaries will continue to receive their entitlements. He highlighted the recalculation efforts initiated under Prime Minister Settha Thavisin's government to enhance the fund's operations, which are expected to conclude by July.
Chulaphan emphasized that the SLF, with a loan burden of approximately 41.3 billion baht, has requested an allocation of 21.9 billion baht from the government, with the remaining 19 billion baht to be managed internally. He explained that the Budget Bureau is responsible for any budget reductions, leaving around 5 billion baht available, although he noted that additional mechanisms remain flexible to ensure all students have access to education financing.
Chulaphan stated, "I never said that the Student Loan Fund has never had any liquidity problems because we all know very well that after the law was amended, it really affected the liquidity of the fund." He further explained that adapting the SLF's processes, rather than simply increasing funding, is necessary for long-term sustainability.
In response to concerns raised by Mr. Parami about budget adjustments affecting health science students, Chulaphan assured that current students will not face issues with budget subsidies. He attributed the delay in deducting the 3,000 baht to recent public complaints and affirmed ongoing efforts to address these concerns legally.
Mr. Pris challenged the budget reduction figures, suggesting discrepancies in the information provided by the SLF manager. Chulaphan responded by explaining the SLF's reliance on repayments from past borrowers and the impact of amended liquidity laws, which necessitated budget requests every two years.
Chulaphan concluded by emphasizing the Ministry of Finance's directive for the SLF to reform its operations, particularly in repayment collection, to minimize government financial support and enhance fund sustainability.