Bangkok: The Cabinet has approved the 2025 budget to support the Student Loan Fund by providing educational loans to students. This initiative aims to promote education by covering tuition and living expenses for students during the first semester of the 2025 academic year, with lending set to commence in April 2025.
According to Thai News Agency, the Cabinet's decision follows a proposal by the Ministry of Finance, which requested an allocation of 2,838.6492 million baht from the central budget's reserve fund for emergencies or necessary cases. The funds are intended to support the Student Loan Fund's operations, ensuring there is adequate financial backing for educational loans. Additionally, the SLF has been directed to expedite policies to stimulate debt repayment, adhering to legal procedures and relevant Cabinet resolutions, to ensure financial sustainability for the fiscal year 2025.
The deputy government spokesperson, Ms. Sasikarn Wattanachan, noted that the budget request exceeds 100 million baht, necessitating Cabinet approval as per the regulations on central budget management. The Cabinet Secretariat has also sought input from the Ministry of Higher Education, Science, Research and Innovation, the Ministry of Education, and the National Economic and Social Development Board to facilitate the Cabinet's decision-making process.