Minister of Finance says measures to help in-debt teachers already available

[rooster59]

Minister of Finance says measures to help in-debt teachers already available

Itiporn  Lakarnchua

 

 

BANGKOK, 20th July 2018 (NNT) – The Ministry of Finance has indicated assistance is available for the 450,000 teachers in need of debt restructuring, under the Office of the Welfare Promotion Commission for Teachers and Education Personnel Loan Program. 

 

Minister of Finance, Apisak Tantiworawong explained that of the 450,000 teachers who accessed loans available in the program, only 20-30,000 are in need of debt suspension and are currently being reviewed by the Government Savings Bank (GSB). Restructuring to reduce interest rates by 1-2 percent, interest rates based on payment ability and suspension of principle payment for three years, is also available for the teachers. Apisak remarked that those calling for further assistance are possily unaware of the aid measures already available. 

 

The minister confirmed nonetheless that any teacher unable to make payments will be at fault and face a bankruptcy declaration as well as loss of civil servant status. The GSB has circulated a memo to all of its domestic branches calling for action against problematic debtors. 

 

Meanwhile, the Ministry of Finance is currently considering a debt restructuring measure for farmers with regular debts of no more than 300,000 baht while excluding those with non-performing loans. Eligible farmers would have to be clients of the Bank of Agriculture and Agricultural Cooperatives and assistance would include a suspension of principle payment for three years and government assistance to reduce interest rates by 2-3 percent. The measures are to be presented to the Cabinet this month.

 

 

-- nnt 2018-07-22

[robblok]

Seems there are measures in place.. again in Thailand if you complain enough and have a large enough impact vote wise you will be bailed out. Farmers are always helped, now teachers too.. I wonder where it ends and who has to pay for it all. 

 

Too bad for al the normal hard working Thais, they are not organised and so they won't be treated the same as the others. They will have to pay their debts at higher percentages. They should just lower rates for those who always pay on time. Rewarding good behavior instead of bad. 

[connda]

5 hours ago, rooster59 said:

suspension of principle payment for three years

How about suspension of interest payments for three years so the debtor can pay down the principle?  There are still shakes in the water smelling blood.

[ramrod711]

Unfortunately there are people that can not handle money, in all walks of life, not just teachers, but not exclusive of them either. Two of my wifes aunts were teachers, both "retired", at least one of them is, the other one cannot retire, she is some kind of dorm attendant now. While she continuously borrowed money, which her waste of skin, non working husband pi--ed away until he died, then her non working daughter had to have a brand new car to drive and finally they got involved in some scheme to buy a house that went into the daughters boyfriends name. She will never get out of debt, no matter how long they suspend payments or interest.

[Srikcir]

For teachers

6 hours ago, rooster59 said:

reduce interest rates by 1-2 percent

For farmers

6 hours ago, rooster59 said:

reduce interest rates by 2-3 percent

No equality between teachers and farmers.

[oldlakey]

9 hours ago, Srikcir said:

For teachers

For farmers

No equality between teachers and farmers.

They need the farmers, teachers are optional in Thailand

 

[jerojero]

And again.... Why are so many teachers in such significant debt? And why others in similar financial situation not a concern of the government?

[oldlakey]

1 hour ago, jerojero said:

And again.... Why are so many teachers in such significant debt? And why others in similar financial situation not a concern of the government?

Because they have the financial understanding of a glove puppet, plus entrapment to keep them in line for  years to come

The others are of no concern to the gov of the day

Why else would you tempt a pauper with large loans

[humbug]

 

these teachers were given easy loans from GSB bank of up to 

3 million baht over 30 years

 

teachers salaries in Thailand are peanuts, this gives more insight into how along with the freebies given to civil servants why so many of this group back the junta/yellow shirt state