The Ministry of Justice has launched an initiative to address the growing issue of student loan debt in Thailand’s southern border provinces, including Songkhla province.
The campaign, part of a broader national effort already active in 53 provinces, aims to alleviate the financial burden on over 215,000 student loan borrowers in the region.
Caretaker Minister of Justice Tawee Sodsong, along with Pol. Lt. Col. Wannapong Kotcharak, Secretary-General of the Southern Border Provinces Administrative Center, and the manager of the Student Loan Fund, announced the initiative.
Tawee highlighted that the campaign has successfully mediated debt restructuring for more than 56,000 borrowers nationwide, resulting in a reduction of over 56 billion baht in debt.
The campaign offers significant benefits for student loan takers, including releasing guarantors from their obligations, providing up to 15-year payment plans, and waiving penalties for those who complete their repayments. For borrowers facing legal enforcement, the initiative will work to suspend legal actions and withdraw cases against guarantors.
The campaign will begin in Songkhla on August 15th, at Thaksin University, for over 70,000 borrowers looking for debt restructuring. Similar events are planned for Pattani on August 18th-19th, Narathiwat on August 17th-19th, and Yala on September 11th-12th. (NNT)
