Thai education staff sinking in debt seek a lifeline

[JetsetBkk]

Back in the uk it's called keeping up with the Jones's

More likely the Sharmas, Kapoors and Singhs.

Unfortunately,the Joneses have joined the welfare lines.

...or emigrated.

[Just1Voice]

My son is a Thai teacher, and a damn good one. He was presented with an honor from the daughter of the King for being the best teacher in Chiang Dao, Fang and Phayo. He doesn't have a car, and doesn't want one. He says the Forza I gave him is just fine. He says it's more important for him to finish his Master's, then get a better job, than having a car. He has phone, but it's not an iPhone. I offered to buy him one. He just laughed and said: "I'm fine, Dad. Don't worry about it." Every month he makes payments on his 2 student loans. Every 3 months I give him 20k to help with his 35k Master's program. We've talked about it, and he understands the importance of not having a heavy debt hanging over his head. He laughs at the concept of "face", and thinks it's stupid, saying having a new car doesn't make him a better teacher. Another year or so, and he may well be one of the few debt free teachers in Thailand.

[Krataiboy]

I'd say these indebted teachers ought to take a math course.- better yet how to delay instant gratification. But if they decrease their monthly bills (by govt. hand outs) they'll trade in their current automobiles for newer/fancier/more expensive ones. The learning curve here is ?????? .... well it's "something."

Have you checked the extent of household debt in other countries - the UK or US for example? Thais are no different from anyone else when it comes to being suckered into living beyond their means by the consumer culture.

[Seastallion]

Back in the uk it's called keeping up with the Jones's

Back in the UK it's called borrowing from Peter to pay Paul.

Not that I've ever been to the UK.

[Strangebrew]

I wonder if the bankers were taught by theses teachers? if you make 56,000 baht a month who in there right mind would loan you 3,000,000 baht?

[selftaopath]

My son is a Thai teacher, and a damn good one. He was presented with an honor from the daughter of the King for being the best teacher in Chiang Dao, Fang and Phayo. He doesn't have a car, and doesn't want one. He says the Forza I gave him is just fine. He says it's more important for him to finish his Master's, then get a better job, than having a car. He has phone, but it's not an iPhone. I offered to buy him one. He just laughed and said: "I'm fine, Dad. Don't worry about it." Every month he makes payments on his 2 student loans. Every 3 months I give him 20k to help with his 35k Master's program. We've talked about it, and he understands the importance of not having a heavy debt hanging over his head. He laughs at the concept of "face", and thinks it's stupid, saying having a new car doesn't make him a better teacher. Another year or so, and he may well be one of the few debt free teachers in Thailand.

Congrats. I'd say you and your wife did an outstanding job raising him. Mission accomplished.

Thanks for sharing.... love the message.

[casualbiker]

I wonder if the bankers were taught by theses teachers? if you make 56,000 baht a month who in there right mind would loan you 3,000,000 baht?

that's monthly payments of approximately 23k leaving 33k to live on.. I don't really see a problem. If it's the one loan but it's the top up loans that are the problems!

[jaywalker]

46k baht as a Thai teacher is bloody good going. Can anybody shed any light on what these huge loans teachers get are actually for.

I read the article and it talks about mortgage and tuition fees for kids. But why exactly are people needing govt loans for this kinda stuff? Isn't that what a salary is for???

Still shocked at their salaries though. Very very few i have seen genuinely deserve close to those sums as most of their time at work is spent eating, sleeping, or playing on fb

46K THB/month = about $7.50 per hour USD. (46K THB = $1,285.64/ 30 days X 7 day /40 hours a week = $7.50 per hour).

If somebody does not have enough brains to earn more than that (EARN = provide value in exchange for financial rewards), what business do they have teaching?

I'm not putting anybody down here, just saying, it's no wonder they eat/sleep/play at work.

I know many nationalities read this forum, so here's a breakdown of a per hour rate:

GBP 4.96

AUD 10.36

EUR 7.06

Once again, I'm not making any judgements here, but those wages are small.

As for the teacher's budget habits, once again, if they cannot create a budget to live on such a low wage, what business do they have being teachers????

This is Thailand and the reference is a Thai person. 46k baht is a reasonable wage for a Thai person and if budgeted correctly would go further than 3 times that amount in the UK or Europe.

Yes I get that.

However it just isn't true anymore.

Times changes, inflation happens, and if they are too foolish to not try to better themselves, by finding a better way to provide value = earn more money, then the education system has clearly failed the teachers, as they don't realize this basic fact.

Improve ones' self = I can provide more value = I will earn more money.

So, back to square one.

What business does a pauper have, being a teacher?

Keep in mind, this is not Thailand specific. Teachers in the USA are constantly whining about low pay and continue to churn idiots out with degrees.

My points are theoretical.

I understand the real world does not think very much, and in Thailand, if you do, then "You tink too mutt!"

I have often been accused of the heinous crime of "Tinking too mutt!"

Edited November 27, 2015 by jaywalker

[Kasset Tak]

We have a teacher here at school that's in her 50's. She drives her 20 year old motorcycle to school, no car or any thing fancy for her but still with her 50,000 monthly salary nothing is left in the end of the month. As she is the one in her family making good money and has no children she is paying for her parents, her siblings and her nephews and nieces. She has payed for the university education for 1 nephew and 1 niece already and there are more of them asking for money. Still she has no debts, not even a credit card!

But then you look at the young teachers they have fancy cars and always new phones (about every 3-6 month) and with their low (compared with the older teachers) salaries they have 0 Baht left just 2-3 days after pay day. For the male teachers its loans and boose and for the female teachers its loans, accessories and clothes.

[billd766]

Back in the uk it's called keeping up with the Jones's

More likely the Sharmas, Kapoors and Singhs.

Unfortunately,the Joneses have joined the welfare lines.

The smarter ones have already emigrated to places like Thailand.

I did many years ago.

[z42]

46k baht as a Thai teacher is bloody good going. Can anybody shed any light on what these huge loans teachers get are actually for.

I read the article and it talks about mortgage and tuition fees for kids. But why exactly are people needing govt loans for this kinda stuff? Isn't that what a salary is for???

Still shocked at their salaries though. Very very few i have seen genuinely deserve close to those sums as most of their time at work is spent eating, sleeping, or playing on fb

46K THB/month = about $7.50 per hour USD. (46K THB = $1,285.64/ 30 days X 7 day /40 hours a week = $7.50 per hour).

If somebody does not have enough brains to earn more than that (EARN = provide value in exchange for financial rewards), what business do they have teaching?

I'm not putting anybody down here, just saying, it's no wonder they eat/sleep/play at work.

I know many nationalities read this forum, so here's a breakdown of a per hour rate:

GBP 4.96

AUD 10.36

EUR 7.06

Once again, I'm not making any judgements here, but those wages are small.

As for the teacher's budget habits, once again, if they cannot create a budget to live on such a low wage, what business do they have being teachers????

The starting salary for a teacher is 15k per month, sometimes even less. Even in private schools a good percentage of Thai teachers will rarely make above 25k per month, and to even get these positions, the competition is fierce.

In Europe or other western nations the salary would indeed be low. But in a country where one can rent a house for 5000 baht a month, and where taxes and general daily expenses are low. 46k can give you a bloody good lifestyle.

And I teach for less than that per month, and I have full QTS and many years experience in the west. I choose to take a salary less than that because the job is a challenge, and I personally feel like I have something to offer, and can make a difference.

There is lots of cultural stuff in Thailand that really is bloody weird that drives most of this bizarre stuff we see and hear of day in and day out here

[chilli42]

You pay peanuts and you get monkeys

[connda]

Obviously Chai (not his real name) doesn't know how to manage his personal finances. No one put Chai in debt but Chai.

[connda]

I can't believe Thai banks would lend money to someone who is so far in debt.

The inability for the debtors to budget properly is one side of it. The stupidity of the banks in handing out money to people who can't repay it is another side of it.

And then a farang with 100K baht/mo income can't get an unsecured line of credit without depositing said amount of the requested credit line into a bank account. But the screwed up banks will hand out a couple of million baht to a Thai who doesn't have enough years in their life time to pay it back. Amazing Thailand.

[connda]

They already owe massive amounts,to the Teachers benevolent fund,

(or whatever it is called),the problem is too many think been a teacher

you are nearly in the HiSo bracket,and overspend to create this image,

regards Worgeordie

That's exactly right. My wife is a teacher (and gets 15000 per month for 50 hour weeks including 24 hours class time!) and scoffs at her colleagues who all buy cars and the latest phones, and go out to expensive dinners.

She says what you say: That they need to keep up appearances, and she thinks they are stupid.

Kudos. You married a smart woman. +1

[SoilSpoil]

Obviously Chai (not his real name) doesn't know how to manage his personal finances. No one put Chai in debt but Chai.

I think Chai will have a lot of self-serving bias

Edited November 27, 2015 by SoilSpoil

[Daniel Boon]

its the way the system works, getting people indebted and they have to work ...

[wow64]

Hope they are not Maths or Economics teachers..

Next year the story will be why cant we use the remaining 500,000 from our life insurance..

Sent from my c64

[wow64]

I can't believe Thai banks would lend money to someone who is so far in debt.

The inability for the debtors to budget properly is one side of it. The stupidity of the banks in handing out money to people who can't repay it is another side of it.

And then a farang with 100K baht/mo income can't get an unsecured line of credit without depositing said amount of the requested credit line into a bank account. But the screwed up banks will hand out a couple of million baht to a Thai who doesn't have enough years in their life time to pay it back. Amazing Thailand.

Thats not correct... Cant easily get credit if u are on 100k.

Sent from my c64

[seajae]

46k baht as a Thai teacher is bloody good going. Can anybody shed any light on what these huge loans teachers get are actually for.

I read the article and it talks about mortgage and tuition fees for kids. But why exactly are people needing govt loans for this kinda stuff? Isn't that what a salary is for???

Still shocked at their salaries though. Very very few i have seen genuinely deserve close to those sums as most of their time at work is spent eating, sleeping, or playing on fb

46K THB/month = about $7.50 per hour USD. (46K THB = $1,285.64/ 30 days X 7 day /40 hours a week = $7.50 per hour).

If somebody does not have enough brains to earn more than that (EARN = provide value in exchange for financial rewards), what business do they have teaching?

I'm not putting anybody down here, just saying, it's no wonder they eat/sleep/play at work.

I know many nationalities read this forum, so here's a breakdown of a per hour rate:

GBP 4.96

AUD 10.36

EUR 7.06

Once again, I'm not making any judgements here, but those wages are small.

As for the teacher's budget habits, once again, if they cannot create a budget to live on such a low wage, what business do they have being teachers????

if you are going to try to compare their salary with western worlds then also add in actual living costs. Here you can buy a dinner for 2 including drinks for $6, in Australia the same would cost around $40 to $50, here a night in a hotel costs $20, in Australia it would be around $100 plus, thats a 5 to 6 times value so that makes the wage equivelent of at least $40 per hour plus. Saying that in the west we also have to budget, we dont go out and spend money we havent got or cant afford to repay unless we are total idiots, you buy a car you can afford and either rent or buy a cheaper house, you dont live beyond your means purely for "face" value. My wife has managed to buy a house and units & a scooter to get around on as well on similar wages and is not in financial troubles because she doesnt waste her money on "face" keeping crap, she doesnt try making out she is more than she is. Maybe if these idiot teachers did the same they wouldnt be in the position they are, really makes you wonder how they can be classified as teachers when they are too stupid to be able to live within their salaries and are this far in debt.

[shirtless]

I sorry to hear that teachers through education have learnt nothing about budgeting, As i say to my girlfriend the day i can spend face at big c is the day i will worry about it,

[fred Kubasa]

Virtually every commenter begins with an error. Most describe Thai banking

and Thai Educational programs as " Systems" and they are NOt systems at all

but merely hundreds/thousands scurrying about, having no clue how to

actually become a " System" and change nothing until they are on the

proverbial iceberg !

[fred Kubasa]

Virtually every commenter begins with an error. Most describe Thai banking

and Thai Educational programs as " Systems" and they are NOt systems at all

but merely hundreds/thousands scurrying about, having no clue how to

actually become a " System" and change nothing until they are on the

proverbial iceberg !

[kingalfred]

No one to blame but themselves

[trogers]

One thing the educators of this country are not teaching is the sufficiency economy...

[Jeremy50]

46k baht as a Thai teacher is bloody good going. Can anybody shed any light on what these huge loans teachers get are actually for.

I read the article and it talks about mortgage and tuition fees for kids. But why exactly are people needing govt loans for this kinda stuff? Isn't that what a salary is for???

Still shocked at their salaries though. Very very few i have seen genuinely deserve close to those sums as most of their time at work is spent eating, sleeping, or playing on fb

46K THB/month = about $7.50 per hour USD. (46K THB = $1,285.64/ 30 days X 7 day /40 hours a week = $7.50 per hour).

If somebody does not have enough brains to earn more than that (EARN = provide value in exchange for financial rewards), what business do they have teaching?

I'm not putting anybody down here, just saying, it's no wonder they eat/sleep/play at work.

I know many nationalities read this forum, so here's a breakdown of a per hour rate:

GBP 4.96

AUD 10.36

EUR 7.06

Once again, I'm not making any judgements here, but those wages are small.

As for the teacher's budget habits, once again, if they cannot create a budget to live on such a low wage, what business do they have being teachers????

How odd. Are you not aware that 46K a month is 4 times the average national wage? It's also far more than most teachers earn at a Government School. Forget about the foreign teachers in the private sector who earn 150K a month, they are not relevant to the article, and I doubt they are worth the money either.