Students Head To Pawnshops For Their Tuition Fees

[george]

Students head to pawnshops for their tuition fees

BANGKOK: -- With the new school semester due to begin next week, college students are currently among the top-five customers of government-owned pawnshops - in need of emergency funds for tuition fees.

The first five types of customers, discovered from registration details, are company employees, housewives, civil servants - followed by college students, who made the top five for the first time. Social Development and Human Security Minister, Paiboon Wattana-siritham cited a statistical report, which said some 1,075,417 people had used the service at 33 state-owned pawnshops last year and some 960,354 in 2005.

This year, some 78,627 people had used state pawnshops, as of April. Officials estimated that the likely of customers this year would total 1,157,000, Paiboon said. So far, the government had put around Bt600 million into state-run pawnshops and another Bt900 million would be soon approved.

Paiboon said the pawnshops' interest rates may be reduced even further to help low-income earners over the next three months, especially for loans lower than Bt3,000.

-- The Nation 2007-05-10

[0Mix1up]

so there you go learn some thing every day

state run pawn shops

never seen them or more likely not aware of them

do they have a name?

anyone know what happens to the goods if they default?

not such a bad idea certainly better than the sharks that run most here.

[ratcatcher]

Students head to pawnshops for their tuition fees

BANGKOK: -- With the new school semester due to begin next week, college students are currently among the top-five customers of government-owned pawnshops - in need of emergency funds for tuition fees.

The first five types of customers, discovered from registration details, are company employees, housewives, civil servants - followed by college students, who made the top five for the first time. Social Development and Human Security Minister, Paiboon Wattana-siritham cited a statistical report, which said some 1,075,417 people had used the service at 33 state-owned pawnshops last year and some 960,354 in 2005.

This year, some 78,627 people had used state pawnshops, as of April. Officials estimated that the likely of customers this year would total 1,157,000, Paiboon said. So far, the government had put around Bt600 million into state-run pawnshops and another Bt900 million would be soon approved.

Paiboon said the pawnshops' interest rates may be reduced even further to help low-income earners over the next three months, especially for loans lower than Bt3,000.

-- The Nation 2007-05-10

Sadly, this really means that too many Thai people are living well beyond their means.

Income: B10,000 per month, expenses : B9,500 per month = result : Happiness

Income: B10,000 per month, expenses : B10,500 per month + result : misery

Is it really necessary for people to carry a mobile phone that cost a whole months salary or in some cases 2 months salary?

Time for some changes to household budgets.

Edited May 10, 2007 by ratcatcher

[thaigene2]

Students head to pawnshops for their tuition fees

So far, the government had put around Bt600 million into state-run pawnshops and another Bt900 million would be soon approved.

Paiboon said the pawnshops' interest rates may be reduced even further to help low-income earners over the next three months, especially for loans lower than Bt3,000.

-- The Nation 2007-05-10

Well now I'm confused. The pawnshop near me seems to have a sign in Chinese -- only Chinese. But wait a minute!! Most of the Chinese shop owneres on my soi -- ok they're all Chinese descendants -- speak and read only Thai -- or so they say. I believe them actually -- since they all seem like pretty decent people.

So what gives?

[MrSnrang]

Why doesn't the government pay for things like this instead of an airport?

[Ijustwannateach]

Students and other low-income types are under a lot of stress recently, I notice. Surely the pawnshop solution is not sustainable, and shows a measure of desperation- rather than saving the (admittedly low) extra money in the good times, they've lived the consumer dream. Some of them have done their best and still can't manage to make do. Like I said in another thread- the crop should be good next year, 'cause a lot of people won't have the money to be busy with anything else.

"Steven"