Jump to content
BANGKOK
rooster59

Teacher debt crisis: Three quarters owe 1.1 trillion baht - on average 3 million each

Recommended Posts

3 million  correlates with my one in debt teacher that I have met.    I think for many Thai's this is the first generation who had a chance at an education  and a prestigious government job.  Lots of gatherings to attend and show face.  Many needed a car to get to schools.  Why not build a house.  These funeral insurance loans so easy to get.  I  think I recall  a 6-9% insurance premium above the loan value mentioned  last year  when this was in the news.  They Could just keep refinancing everything into bigger and bigger loans.  A 60-70% payment to salary  ratio  was ok.  Meaning retirement income wont be enough. Payment periods well past normal  retirement years. No bankruptcy in Thailand.   I was told if as government worker quit paying they would lose their job.  I was also told only retired teachers participated in the protest last year because they would be fired if they were current teachers.  Basically the only way they will ever be free from these loans is when they die.  But even then I'm not sure what happens to the car the house the land. Just imagine, the profit was made on this much money

Edited by Elkski
  • Like 2

Share this post


Link to post
Share on other sites

guess  they need an economics  class introducing at school then!

  • Sad 1

Share this post


Link to post
Share on other sites
1 hour ago, rooster59 said:

Samkhan Jongkoyen is the secretary general of a coordination committee set up to tackle debt problems of teachers. 

what the hell  for? ok Im going out to  borrow  <deleted>loads of money and after will they set up a committee  for me too?

  • Like 1
  • Haha 1

Share this post


Link to post
Share on other sites

this explains their horrendous attitude, having worked in many schools

  • Like 1
  • Sad 1

Share this post


Link to post
Share on other sites

On the flip side there appears as many generals as teachers here most with a very large Swiss account I would have thought to balance the books🤔

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...