RMUTT Requires Fund Edge Expansion to Support Old Student Borrowers
Mr. Sompob Petchrat, Vice President, RMUTT, mentioned that in the 2010 academic year, the student loan fund allocated 64,484,000 baht for 1,505 new student borrowers and 254,915,248 baht for 5,966 old student borrowers. Hereby, RMUTT has allocated these amounts of fund for 4,846 originated RMUTT students at 224,207,100 baht and the remaining fund is for 1,120 students who moved from other university, accounted for about 30,708,148 baht. This group of students normally encounter with the differentiated fund allocation problem because their tuition fee in their previous university is different, especially, students who move to study in field of science and technology, sociality and humanity and International program at RMUTT. It leads to university has insufficiency fund to allocate for the 1,120 old student borrowers. Therefore, the university wrote the letter to Student Loan Fund managers in order to expand the fund that it would be able to cover the additional tuition fee and students who move from other university.
Vice President, RMUTT added that student borrowers who already graduated have been found that 90% paying debt for the Student Loan Fund. In additional reason, they also were oriented about the debt payment steps on their graduation day. By the way, for 2010 academic year, there are only 75 student borrowers from Income Contingent Loan (ICL), the 2nd to 4th year student, and its loan value is accounted for about 1,066,015 baht. The funder already gives up loaning program for 1st year student in 2010 academic year. However, it will not affect student borrowers because the mentioned funder provides only tuition fee and priority to students who are in fiend of science and technology. These lead to have less students being interested in.
Translated by Suraporn Onputtha