A Basic Money Management System of Student Loan Funds and Things You Should Know

Student Loan Funds is a government agency that plays an important role in education support for students and undergraduates by providing loans that can be used for tuition, cost of living, or other expenses related to learning. The Student Loan Funds aim to provide more opportunities to access study for those who do not have enough funds for further study.

A Money Circulation System

The Student Loan Funds works by providing loans to those who apply and pass qualification examinations. After the borrower receives the money and completes the education, the loan must begin to be repaid during the specified period. The revolving system is to get repayment from students who have started working and earn income and then return the money they borrowed for lending to other students. The cycle of the loan in the Student Loan Funds will always be circulated which will allow the fund to continuously support education.

Loan Application Procedure

Requesting a loan from the Student Loan Funds can be done by filling out an application through the website of the agency and applicants themselves must prepare important documents, such as ID cards, educational evidence, and family financial documents. After filling out the application form, they must wait for qualification from the Student Loan Funds. If approved, the loan will be granted according to the amount that is applied for.

Things you should know on loan application and repayment

Low interest rate: The Student Loan Funds give out loans with lower interest rates than commercial banks which will ease the burden for students who take out loans.
Information monitoring: Information on the status of loans and schedules should be tracked through the website of the Student Loan Funds so as not to miss the repayment and important information.
Repayment: The repayment will begin after graduation and have an income as scheduled. The period and amount of the loan must be paid back as agreed.
Rights and duties: Borrowers should be fully aware of their rights, obligations, and requirements regarding loan repayment.
A loan on an additional semester that is not in the course: Usually, loans are not available because they are not in the structure of the curriculum, but if they are in the curriculum, loans can be made. The total amount of loans for the entire year must be at most the amount of the curriculum structure.

The Student Loan Funds are important in supporting education and providing students with higher education opportunities. Understanding the working system and requirements will help borrowers manage their loans efficiently and repay their funds on time.

References from
studentloan / set.or.th / opendurian