The Student Loan Fund (SLF) is offering an incentive for students with outstanding education loans to repay them by April next year - a reduction in the interest payments and in the principal amount owing.
The campaign will run from Dec 13 until April 30, 2015, with cuts of 50-100% in penalty interest and a reduction in the principal by 3% for those with a good payment record.
Permanent secretary for finance Rangsan Sriworasart said the offer aims to encourage graduate students to pay off their education loans by April, so the fund will have the money to lend to other students.
The 100% interest cut will be for students who make all outstanding payments and close their account, and the 50% cut for those who want to clear overdue installments and restart the normal repayment schedule.
The 3% cut in the principal will be offered to students with a good repayment history who close their account with a single payment.
There are about 2.15 million students eligible for the incentive scheme.
There are currently 2.7 million graduates who are in debt to the SLF.