Thai govt to help ease teachers’ debt problem

[Doc46]

Hang on a God Dang minute,,,,Who's fault is it that the stupid Gits are in debt?,,,, They got themself to blame  for getting in the Shit,,,So wipe you're ass and get out of the Shit yourself by not spending more money then what you earn,,,, We have to budget so why not you? are you better than other people? No,, you don't cost anymore from making than anyone else,,just a F,,k,,

[Si Thea01]

7 hours ago, shirtless said:

Maybe its time they live within their means  but this  is Thailand  and Thais have little self control 

 

 

Maybe some don't but most do live within their means, which they have to owing to the poor wages paid and many incur a debt because they have to pay for their university degrees.  It's like the hex debt in Oz and whatever it's called in the States, where the former sees university graduates accruing an outstanding debt to the government $4 Billion plus, with many never paying anything back.  In Thailand, many teachers come from poorer families and to better themselves they, unfortunately, have to borrow funds to attain their teaching degrees.

 

How do I know, my wife, who is a teacher of some 32 years experience, told me and fortunately her family were well off and could afford to send her to University, where she obtained a bachelor and Masters degree.  Those not as fortunate, have to go into debt to attain their degrees and that is what cripples them, as they have to pay it back.  Nothing to do with their life style, which is very meagre by western standards.

 

Maybe you should look into the matter a little deeper and at least determine what is behind their debt before you generalise.

[Si Thea01]

1 hour ago, Doc46 said:

Hang on a God Dang minute,,,,Who's fault is it that the stupid Gits are in debt?,,,, They got themself to blame  for getting in the Shit,,,So wipe you're ass and get out of the Shit yourself by not spending more money then what you earn,,,, We have to budget so why not you? are you better than other people? No,, you don't cost anymore from making than anyone else,,just a F,,k,,

 

Wow, what can one say about this articulate spray.  Got it off your chest now. 

[Cake Monster]

Send them all on a training seminar.

Seminar entitled " How to control your spending  within your means "

 

[DerringDo]

Restructure the debt by all means but it must come with education. Otherwise it's an endless cycle.

[Redline]

Even the Special Specialists?

[attrayant]

And of course the cars, phones and computers will be old, broken and worn out long before the loans have been repaid.

Think again! The teachers in my office are all abuzz about the iPhone 7, even though their sixes are barely a year old. They just need to have the biggest & best.

[naboo]

I find the attitude to debt here very irresponsible.

 

5 years ago, I found myself in a tricky financial situation - unexpected pregnancy. I needed four separate loans - a mortgage to buy a house, a loan for a car, a credit card for the hospital fees and to purchase all that the baby needed and a loan from a family member to put the deposit down on the house.

 

Prior to this, I had never taken on any debt in my life. But I did the maths. The car, bought new, was interest free. The mortgage had lower interest for the first three years and then a fixed rate for the next 12. The credit card was expensive, 1000B/month in interest over 2 years (baby needed more than I imagined). Loan to family member was agreed to be paid off once car finance was complete.

 

I had a plan. I knew how much I was earning, I knew how much I needed to live (the wife knows how to be frugal, helps a lot), I knew how much I could afford. In July, I paid back the family member, credit card was cleared long ago (although has been used since, usually paid off the next month or within a short time span in the case of flights home), car loan gone last year, only the house remains. I've just doubled the payments on the mortgage. Wife asked why - I don't want to pay interest. Loan will be cleared in a few years, debt free. I front loaded a load of debt, had a few years of tight finances, but the plan paid off. We are now, just in time for the school fees to kick in, feeling fairly comfortable.

 

Compare that to the wife's sister, mortgage of 500,000B, paying off over 25 years. I showed my wife the calculation on the interest and noted that if she paid an extra 1000B/month, it would be paid off years earlier. Sister won't listen. Why pay more now? She spends that 1000B/month on taking the family out for a meal on pay day. I saw a motorbike offered for sale the other day, 18000B down, 2300B/month for 10 more months. The guy had already paid 26 months. This was for a Honda Cub, 42,000B new price. The maths doesn't add up for anyone with some sense.

 

Its all a very, very different attitude here. Debt is a part of living. The banks are making a killing. I might go into the loan shark business.

[Johpa]

My  brother in-law is a teacher and I have been close to countless teachers over the decades.  They may be given a title and a certain amount of respect above their pay grade, but they are relentlessly targeted for land/housing scams and pressured to take on loans for cars they can't afford at their pay grade but are appropriate for one who is given that amount of respect.  They are easy targets because, quite frankly, they aren't too bright on average and it is all too easy to appeal to their vanity.

[worgeordie]

Lending more money,to hopefully pay off loans they already

cannot pay, another day older and deeper in debt.

What about helping people that are responsible,have no debt,

live within their means,and try to save money, with interest

rates that do not even cover inflation,but i suppose we are in

the minority,so Governments World wide ,it seems have no

interest in us.

regards worgeordie

[Doc46]

19 hours ago, Si Thea01 said:

 

Wow, what can one say about this articulate spray.  Got it off your chest now. 

Just a bit ,,,But got plenty left to share ,,,   

[Si Thea01]

13 minutes ago, Doc46 said:

Just a bit ,,,But got plenty left to share ,,,   

 

I bet you have. But I'll pass on the sharing bit.  

[lannarebirth]

Seems like a good scheme to me. If full loan up to 300,000 Baht @4% amortized over 20 years amounts to less than a 2,000Baht/mo payment. Assuming there is no pre-payment penalty it is not too onerous and it is an easily managed amount which can be directly withheld from a paycheck.