Student Loan Fund Defends Auto-Debit Collections
Thailand's Student Loan Fund defended its automatic account debiting after complaints, saying July deductions only targeted borrowers with overdue payments per their loan agreements. The fund processed automatic deductions for over 74,000 a
The Student Loan Fund (GYSH) clarified its automatic account debiting process, explaining that deductions only apply to borrowers with overdue payments according to loan agreement terms. After borrowers posted complaints on social media on July 8 about automatic deductions from their savings accounts, GYSH issued a statement on July 9. Deputy Manager Anjali Phuriwitwattana, acting as the fund's manager, explained that July 5 is the annual repayment deadline for all GYSH borrowers. The fund allows borrowers to pay voluntarily, but if payments are missed or incomplete, GYSH proceeds with automatic debit from the account used to receive living stipends, as stipulated in the loan agreement. This year, GYSH processed automatic deductions for 74,337 accounts on July 8, targeting borrowers with overdue balances. The collected funds are returned as revolving capital to provide ongoing educational opportunities for future students and help disadvantaged Thai youth access education and build secure futures. Borrowers with questions can contact GYSH Call Center at 0 2016 4888 (Monday–Friday, 8:30 AM–8:00 PM, excluding holidays), visit the official GYSH Line account, or email [email protected].
