The panel is headed by Boonserm Veesakul, a former head of Dhurakij Pundit University, and tasked with examining the pros and cons of merging the two student-loan systems within two weeks.

Dr Prempracha Suphasamut, manager of the SLF, said yesterday that the merged system, once approved, was expected to be complete and available to students from the next school semester starting in May next year.

Education Minister Wijit Srisa-arn has proposed merging the two loan schemes because both are similar and having one system would make it simpler for students to apply for funding.

The SLF scheme mainly supports students' general expenses while the ICL scheme covers tuition fees.

Prachya Wesarat, chairman of the Assembly of University Rectors of Thailand, which appointed the panel last Friday, said that the new loan scheme after the merger should be available to only poor students.

"If we give equal consideration to everyone applying for loans from the new scheme, it would be like giving money that is more important to the poor to the rich," he added.

The family income of students applying for SLF and ICL lending is not a crucial factor in deciding whether their requests will be approved.