QR code will be used for student loan repayments

The Student Loan Fund and Krung Thai Bank have collaborated to launch a QR code payment system for people who have borrowed from the fund to repay their student loan.

Student loan borrowers can scan a QR code on www.studenrloan.ktb.co.th or www.studentloan.or.th with a mobile banking app from any bank to repay their student loan from 5th July onwards.

Student Loan Fund Manager Chainarong Katchapanan said today that loan borrowers should repay their loan on time otherwise they will be fined. Those who fail to repay the loan will face legal action. Once they receive a subpoena, they have to be present at the court with a guarantor to sign a settlement agreement. They can repay the loan in installments for nine years, said the fund manager.

The Comptroller General's Department will be the first government unit to deduct payments for their employees’ school loans starting in July 2018. All government units and companies will adopt the same measure before the end of this year.

Information and Source
Reporter : Suwit Rattiwan
Rewriter : Suwit Rattiwan
National News Bureau & Public Relations

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