Teachers owe B1.1 trillion, 16pct of total public debt

17-Jan-2020 Intellasia | BangkokPost | 7:02 AM Print This Post

The debt accumulated by teachers nationwide totals 1.1 trillion baht, about 16 percent of the public debt, with each teacher owing an average 3 million baht.

This figure was given on Thursday, National Teachers Day, by Samkhan Jongkoyen, secretary-general of a coordinating centre set up to solve the debt problems of teachers and others in the education sector.

He said teachers’ debt was at crisis level. Statistics showed that about 400,000 teachers, about 80 percent of the total nationwide, were deeply in debtto an average, at least 3 million baht.

Their debts came from loans drawn on the teachers’ welfare fund, funeral loan schemes and the Teacher Savings Cooperative (TSC), to a total of 1.1 trillion baht. This was about 16 percent of the country’s public debt, Samkhan said.

The huge debt incurred by teaching personnel was attributed to the rising cost of living, family burdens and a lack of financial discipline on the part of both teachers and the financial institutions they borrowed from, Samkhan said.

https://www.bangkokpost.com/thailand/general/1837119/teachers-owe-b1-1 trillion-16-of-total-public-debt


Category: Thailand

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