Bangkok: The government has announced an extension to the deadline for student loan debt restructuring, moving it from May 17 to May 24. Borrowers are advised to register to ensure they do not miss out on their rights under new legislation. According to Thai News Agency, Mr. Anukul Prueksanusak, Deputy Government Spokesperson, reported on the progress of the debt restructuring process under the Student Loan Fund Act (No. 2) B.E. 2566. The act is designed to ease the financial burden on borrowers by allowing them to repay their debts on more favorable terms. The new measures offer benefits related to interest rates, fines, and repayment terms. However, a significant number of borrowers have yet to register or restructure their debts. Failure to do so may result in additional financial burdens. The Student Loan Fund's decision to extend the deadline to May 24, 2025, provides an opportunity for unregistered borrowers to enter the system, request refunds, and adjust their debt balances. This move aims to preve nt future financial penalties and fines. Mr. Anukul emphasized the importance of borrowers cooperating with the government's request to expedite the registration process within the extended period. Completing the process will allow borrowers to benefit from the new restructuring measures and reduce their long-term financial obligations. Failure to repay on time may lead to increased interest, default penalties, and potential legal action.
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