Can Foreigners get loans for educational purposes in Thailand?

[anthxhughes]

I am not sure where to post this exactly, so pardon me if there is an area where this post should be (still a noob)

I am studying medicine and soon to graduate . Now I am thinking of where to complete my postgraduate studies/residency and I decided that it would be best do it in Thailand. Let's just say I am at the point where I am legally able to reside and work in Thailand with visa, medical license etc... Would I be able to take a loan for approximately THB400,000 per year for three years (it could be a bit less as this price includes a dorm room which I don't need as my wife is Thai and I would live in her home) and then pay that back after I graduate?

Being from Costa Rica, I guess an alternative would be to at least save a portion of that from working a while here, then move to Thailand, pay part of it out of pocket and the rest with a loan... For the sake of the question though, let's assume I need the full amount and meet all the eligibility requirements for a loan of that amount.

Thank you, and I appreciate your help!

[Junkyarddog]

No,cannot. Farang no good.

[marcofunny]

your wife can take the loan but under her name.

[Deepinthailand]

No,cannot. Farang no good.

Very helpful post you must be so proud of yourself.

OP best option ask at teaching unit you will be working in if there is anything to be had loan ect I'm sure they will know.

[blackcab]

Do you read, write and speak Thai fluently, including medical terminology?

To practice medicine in Thailand you need to be licensed, and all the medical exams are in Thai.

[Pib]

Let's just say I am at the point where I am legally able to reside and work in Thailand with visa, medical license etc... Would I be able to take a loan for approximately THB400,000 per year for three years (it could be a bit less as this price includes a dorm room which I don't need as my wife is Thai and I would live in her home) and then pay that back after I graduate?

I would say "once you get to the point that you have proper visa, a work permit, and Thai medical license in-hand...and of course been working as a Thailand licensed medical person and drawing X-amount of salary for X-months you could get a loan if your wife co-signed for you and assuming she has the ability/salary/collateral to pay back the loan in case you don't.

I just don't think any bank/finance company in Thailand would loan you one baht as a foreigner who could skip Thailand minutes after he got the loan in-hand unless the bank/finance company feels sure you can pay back the loan and won't be skipping out of country/skipping on the loan....and you have a qualified loan co-signer(s).

[NickJ]

Just get your ducks in a row.....Speak read and write Thai......for starters. It really doesnt matter who you know or what hospital they own. unless you meet the requirements it will only be a matter of time that you realize its not worth it for most foreigners to practise here.

[theguyfromanotherforum]

Really strange question

[anthxhughes]

Do you read, write and speak Thai fluently, including medical terminology?

To practice medicine in Thailand you need to be licensed, and all the medical exams are in Thai.

I still have a few months left before I graduate, then I will take the national medical exams (of Costa Rica) and have to do a 1 year internship before obtaining a full license as a general physician.At that point I can begin all the procedures required by the Thai medical council and obtaining anything I need to reside there. Meanwhile, My wife is helping me learn Thai, now I can read and write fluently, but I need to dedicate time to learning grammar, vocabulary (medical as well) and conversational skills. Yes, I know it's a challenge, but I have my wife who is a great motivation for me.

Just to correct you on something: Part 1 and 2 of the Thai Medical examinations are conducted in English, and part 3 in Thai. Although Thai needs to be known anyway, it is helpful that the exam will be in English.

Reference: http://www.tmc.or.th/en_how-foreign.php

[anthxhughes]

Really strange question

I apologize if it's strange. Just basically trying to ask if I , a non-Thai, could get a student loan to fund post-graduate training in Thailand. Foreigners have to pay a tuition, and the only reason I want to study there is because I want to end up living there. So a loan could really help.

I admit I am fairly young and don't know much about the specifics of loans.

I'll try to be less strange next time

[blackcab]

I'll be straightforward and say that I do not know the answer to your question. However, as a foreigner it is generally difficult to get unsecured credit from banks in Thailand.

In general, unsecured credit cards are only given to foreigners who have a work permit and who can show regular earnings for a few months. Mortgages are even more difficult to obtain, and they are secured on property. Unsecured business financing is extremely difficult to get.

I believe that getting unsecured personal finance from a bank for 1.2 million baht is unlikely to happen. In my opinion the bank would give your wife a loan secured on property - however would it be possible to repay the loan during the first three years?

Edited July 19, 2016 by blackcab

[FritsSikkink]

Do you read, write and speak Thai fluently, including medical terminology?

To practice medicine in Thailand you need to be licensed, and all the medical exams are in Thai.

I still have a few months left before I graduate, then I will take the national medical exams (of Costa Rica) and have to do a 1 year internship before obtaining a full license as a general physician.At that point I can begin all the procedures required by the Thai medical council and obtaining anything I need to reside there. Meanwhile, My wife is helping me learn Thai, now I can read and write fluently, but I need to dedicate time to learning grammar, vocabulary (medical as well) and conversational skills. Yes, I know it's a challenge, but I have my wife who is a great motivation for me.

Just to correct you on something: Part 1 and 2 of the Thai Medical examinations are conducted in English, and part 3 in Thai. Although Thai needs to be known anyway, it is helpful that the exam will be in English.

Reference: http://www.tmc.or.th/en_how-foreign.php

"now I can read and write fluently, but I need to dedicate time to learning grammar, vocabulary (medical as well) and conversational skills"

How can you read and write fluently, if you don't even have conversational skills?

[anthxhughes]

"now I can read and write fluently, but I need to dedicate time to learning grammar, vocabulary (medical as well) and conversational skills"

How can you read and write fluently, if you don't even have conversational skills?

*Can't. It was a typo. My knowledge of Thai is basic.

[NickJ]

Well let us know how it goes. I belive you might have posted here awhile ago. I wrote about it then. I have my doubts as to a Medical Doctor being able to practice here from an average medical school. One that exists in a country where he or she might not be from. Anyways. Its very much an old boys club when they decide who to let in. Grades aside. Very subjective. A crap shoot. There are exceptions. But I would not put all my eggs into one basket.

good luck....again. let us know.

[anthxhughes]

I'll be straightforward and say that I do not know the answer to your question. However, as a foreigner it is generally difficult to get unsecured credit from banks in Thailand.

In general, unsecured credit cards are only given to foreigners who have a work permit and who can show regular earnings for a few months. Mortgages are even more difficult to obtain, and they are secured on property. Unsecured business financing is extremely difficult to get.

I believe that getting unsecured personal finance from a bank for 1.2 million baht is unlikely to happen. In my opinion the bank would give your wife a loan secured on property - however would it be possible to repay the loan during the first three years?

Being that the loan is to fund post-graduate medical training (or medical residency), and if the sources indicating that a specialist on average makes around 100,000 baht per month are correct, I'd say along with the help of my wife the loan could probably be paid back in the first 3 years. But this is just my guess...

Thanks for your input

[anthxhughes]

Well let us know how it goes. I belive you might have posted here awhile ago. I wrote about it then. I have my doubts as to a Medical Doctor being able to practice here from an average medical school. One that exists in a country where he or she might not be from. Anyways. Its very much an old boys club when they decide who to let in. Grades aside. Very subjective. A crap shoot. There are exceptions. But I would not put all my eggs into one basket.

good luck....again. let us know.

Yes I did post awhile ago, since then I contacted the Thai Medical Council and a residency director at Mahidol university. They have been very helpful and I do feel more comfortable with the process, though I have not applied yet for a Thai medical license, so I won't know until then. Perhaps I am jumping the gun a bit with this loan question, but I just want to gather all the info I possibly can before making goals.

When you refer to being able to practice as a doctor in Thailand as unlikely (or as an old boys club), are you basing that off a personal experience or someone you know? Or do you know someone trying to be an Doctor in Thailand? I am curious, that's all. Based on the info I received, it seems their accreditation process of foreign med degrees are pretty standard and open. And to be honest, looking on the Medical council's approved school list (http://www.tmc.or.th/en_nameofrecognized-Foreign.php) , a lot of them are very great but many of the schools don't seem to be of Harvard quality... just average.