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Some 30,000 ex-students face suit for loan default
UBON RATCHATHANI - About 30,000 former students face being sued for failing to repay their debts to the Student Loan Fund, the body's manager Prempracha Supasamout said Wednesday.
To prevent his, he said the fund would arrange for out-of-court settlements between August and November in Ubon Ratchathani, Chiang Rai, Phitsanulok, Lop Buri, Suphan Buri, Khon Kaen, Chanthaburi, Surat Thani and Songkhla.
Earlier this year the fund had set up the out-of-court settlement system which succeed in getting an initial 1,600 students to repay their loans, he said.
The first phase of repayments, from August 22 to 24, would be launched at Ubon Ratchathani Court, he said.
He urged students living in the vicinity to take the opportunity to negotiate repayments with officials to prevent court battles, to have a chance to repay their student loans within 9 years and quite possibly have their fines lowered.
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Interest Hike Looms On Student Loans
RALEIGH, N.C. -- Interest rates on government-subsidized student loans will go up nearly 2 percentage points on July 1, so some education funding experts are urging people to consolidate outstanding loans.
"This jump is really going to hit the pocket of students," said Julia Leggett, a political science major at Meredith College, who expects to owe about $35,000 by the time she graduates.
"You do have to incur a lot of debt when you go to a private college, and you want to be competitive in the work force. So, you search for the best institution and you search for loans," Leggett said. .