GSB loan scheme to cover school expenses

PUBLISHED : 9 May 2026 at 05:22

NEWSPAPER SECTION: Business

WRITER: Wichit Chantanusornsiri

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Government Savings Bank (GSB) is providing 1 billion baht via a short-term unsecured loan programme to assist parents with back-to-school expenses as living costs continue to rise.

Songpol Chevapanyaroj, president and chief executive of GSB, said the programme allows parents to borrow up to 10,000 baht per person to cover expenses such as school uniforms, textbooks and educational supplies. Applications can be submitted through the bank's app MyMo.

Mr Songpol said parents face significant financial burdens during the start of the school term, but the economy remains volatile and household liquidity is tight.

The bank introduced the "People's Bank Back-to-School Loan" to ease education-related expenses at the beginning of the new semester, reduce reliance on informal debt, and support children in continuing their education.

He said the scheme reflects the bank's role as a "social bank for every life", supporting Thais of all ages, especially students who are building their future and should receive financial support to ensure equal educational opportunities.

The programme offers more relaxed conditions than GSB's standard lending criteria, making it easier for parents to access credit. The loan carries a fixed interest rate of only 0.60% per month, with loan amounts based on necessity up to a maximum of 10,000 baht per person.

Repayment is spread over one year (12 instalments), potentially 894 baht per month including principal and interest. No collateral is required.

Applicants must be parents with an occupation and income. Loan applications can be submitted via the MyMo app or by contacting GSB branches from May 8 to July 31.

According to Mr Songpol, inflation is expected to continue rising, reflecting increasing prices of goods attributed to the global energy shock.

The Bank of Thailand estimates inflation will continue increasing in the near future, with some months potentially reaching 4-5% after April posted the highest inflation in 38 months, expanding by 2.89%.

However, the central bank expects the pressure will be temporary, with inflation gradually declining in the second quarter of 2027 before returning to the target range of 1-3%.

According to data from the Education Ministry, for the first semester of the 2025 academic year, Thailand had 11.8 million students, from preschool through upper secondary school (Mathayom 6).

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- KEYWORDS

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