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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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Students rush to lock student loan rates
WASHINGTON (Reuters) - U.S. students are rushing to lock in favorable interest rates on their college loans before a nearly 2.0 percentage point rise on July 1.
The rate rise affects college undergraduates who hold federal "Stafford" loans, the most affordable type of student loan, as well as college graduates who still carry debt they racked up in college, and parents who took out "Parent PLUS" loans.
Interest rates on existing Stafford and PLUS loans readjust annually on July 1 at a premium over the 91-day Treasury bill rate, which has risen nearly 2.0 percentage points over the past year thanks to the Federal Reserve's current monetary policy tightening cycle.
Variable-rate federal loans will no longer be available after July 1, when the new law comes into effect.