Cash-strapped teachers offered loans to clear debts

[webfact]

Cash-strapped teachers offered loans to clear debts
By The Nation

 

 

BANGKOK: -- Teachers overwhelmed by personal debt are being given the opportunity to improve their financial position in a scheme being offered by the Education Ministry.

 

The Office of the Welfare Promotion Commission for Teachers and Educational Personnel (OTEP), which is under the supervision of the Education Ministry, has signed a memorandum of understanding (MoU) with the Teachers Saving And Credit Cooperative to help teachers get out of debt. 

 

According to the OTEP, up to 15,000 of the country’s 1.4 million teachers are in desperate need of financial assistance. Under the MoU, a loan programme will be initiated in Phetchaburi province, a model for the scheme. 

 

Indebted teachers can request loans from the cooperative to pay back their current debts at an interest rate of 3.5 per cent per annum. 

 

The loan will be issued on the condition that borrowers do not add more debt in future or until they have cleared their present debt with the creditor, in this case the cooperative. In addition, their loan requests must be approved and signed by their supervisors.

 

Source: http://www.nationmultimedia.com/news/breakingnews/30314493

 

-- © Copyright The Nation 2017-05-08

[ben2talk]

Great. They don't have enough income, so let's give them a windfall that will further weigh them down with interest instead of paying them (",)


Sent from my iPhone using Thaivisa Connect

[jaltsc]

2 minutes ago, ben2talk said:

Great. They don't have enough income, so let's give them a windfall that will further weigh them down with interest instead of paying them (",)


Sent from my iPhone using Thaivisa Connect

From what I've heard about the teachers' ability to educate their students, most of them are being overpaid.

 

How about updating the archaic system based on seniority, and train teachers to do an adequate job? In order to attract better qualified individuals, implement an increased pay scale based on teaching proficiency, not on how long one has been taking up space int the classroom.

[colinneil]

Why are so many teachers in serious debt situation?

Easy answer, is because it is too easy for them to borrow money.

The teachers savings and credit crowd just give them loans just because they are teachers.

A local teacher gets just 2000 baht per month from her salary, because the remainder is taken out of her salary to repay loans.

Stop lending them money that they cannot pay back, then it is problem solved.

[meatboy]

yep they do need loans,so they can buy,a new car,bike,and that new house.

[jonclark]

I think this needs explaining a bit more what is meant by the term debt - does it include mortgage, car repayments, credit cards or is this unofficial debt? 

[Orton Rd]

How do you clear debts by taking out loans? 

[jaltsc]

19 minutes ago, Orton Rd said:

How do you clear debts by taking out loans? 

That would make perfect sense to you if you were "educated" in the Thai school system and raised in a culture devoid of understanding the consequences/risks vs. benefits resulting from of ones actions.  

 

 

Edited May 8, 2017 by jaltsc

[jerojero]

And exactly why are teachers so cash strapped? And any more cash strapped than other citizens? They make 2 or 3 times minimum wage where millions work at factory jobs.

 

 

[kannot]

Works the world  over, notice the amount of credit  card swapping from one co. to another....consolidate  all your debts into " one easy payment" ...................over twice as  long.

Stupid knows no bounds, learnt long ago never to borrow  money for ANY reason.

I bet the default rate here is enormous

[kannot]

2 minutes ago, jerojero said:

And exactly why are teachers so cash strapped? And any more cash strapped than other citizens? They make 2 or 3 times minimum wage where millions work factory jobs.

exactly but the more they make they more they borrow/want, can never understand why people live beyond their means, if I want something I save for it, worked for 50 odd years for me.

[kannot]

26 minutes ago, darksidedog said:

Teachers are it seems being paid peanuts, so get into debt. The kids meanwhile are being taught by monkeys, which explains much of the local stupidity.

Get good quality people for the job, pay them well and the problems will start to go away. (Well, Maybe not all of the stupidity, that's pretty much inherent.)

Actually I think they do get paid much better than most and have some pension and healthcare benefits

[kannot]

4 minutes ago, jerojero said:

And exactly why are teachers so cash strapped? And any more cash strapped than other citizens? They make 2 or 3 times minimum wage where millions work at factory jobs.

 

 

Local shop owner here told  us he owes 6  million baht to the bank and he has a  small mom/pop store, I was  shocked by the amount as we  are in a rural area, another shop owner told us her customers ( sells  chemicals for the land) owe her 3  million in unpaid debts which I doubt she'll see again. Dread to think what its  like nationwide. A  local builders  merchant told us an ex  builder we  used ( got  rid  of) still owes her 100k baht from 5  years ago

[worgeordie]

44 minutes ago, Orton Rd said:

How do you clear debts by taking out loans? 

Thai economics 101 !

regards Worgeordie

[AGareth2]

ah more debt to clear the debt?

[optad]

The scary statistic in that article is that there are 1.4 million teachers in Thailand and few of these educators speak English. 

 

How do you educate the ASEAN youth with primitive educators? Think Singapore and think centuries away in time and aspect, kms in distance!!

 

The system inducts low horizon teachers who cannot manage their own finances yet demand a 'wai' and deliver a whack on whim. 

 

<deleted>.uP

 

 

[davehowden]

Buying things they don't need with money they haven't got.

[robblok]

40 minutes ago, optad said:

The scary statistic in that article is that there are 1.4 million teachers in Thailand and few of these educators speak English. 

 

How do you educate the ASEAN youth with primitive educators? Think Singapore and think centuries away in time and aspect, kms in distance!!

 

The system inducts low horizon teachers who cannot manage their own finances yet demand a 'wai' and deliver a whack on whim. 

 

<deleted>.uP

 

 

What is it with that need to speak English.. its not needed here.. people speak Thai.. ok some expats don't want or can't learn Thai so they want others to learn English but to what benefit of the student ?. Do tell me do they get a higher salary if they speak English ? Or is it just fo the ease of the lazy foreigner that does not want to learn the local language ?

 

Now for jobs in hotels and in the tourist industry I get the need, international trading.. again yes.. but for a cashier.. no need as the majority of clients are THAI.

 

Now why would a biology or a math teacher need to speak English.. i rather have a good math teacher then a bad one that can speak English. English is overrated and is only needed in those jobs where the majority of people they come in contact with speak English not for other jobs just because lazy old foreigners don't want to learn other languages. 

[Pib]

 

Quote

According to the OTEP, up to 15,000 of the country’s 1.4 million teachers are in desperate need of financial assistance. 

 

Heck, 15K only equates to only 1.07% of the total 1.4M teachers.   I would think that is a super lower percentage for any profession.

[pentap]

This report is kidding!

RIGHT?

Most have pots of money!

Unbelievable!

[Orton Rd]

BIL and his mrs are both teachers in state Schools, 2 houses, 2 cars, 2 kids and no debt. Some people just cannot live within their means and should not be helped out because of it.

[jonclark]

Thing that tickles me the most is the 1.4 million teachers - Sheesh that is a lot of teachers considering that the entire student population (under 18) can only be about what 18 million (from a population total of 68 million). 

 

That is an excessively high teacher to student ratio 11: 1 or there about - So why are classes so full with 60+ students???? 

 

I am definitely calling nonsense on those teacher numbers. 

[hanuman2543]

11 minutes ago, jonclark said:

Thing that tickles me the most is the 1.4 million teachers - Sheesh that is a lot of teachers considering that the entire student population (under 18) can only be about what 18 million (from a population total of 68 million). 

 

That is an excessively high teacher to student ratio 11: 1 or there about - So why are classes so full with 60+ students???? 

 

I am definitely calling nonsense on those teacher numbers. 

In the army they have more than 1000 generals. I remember reading several years ago that a general here in average commands about 80 soldiers. In my home country this is a job for a lieutenant or o captain.This country has definitely too many chiefs.

Edited May 8, 2017 by hanuman2543

[Fulwell53]

5 hours ago, ben2talk said:

Great. They don't have enough income, so let's give them a windfall that will further weigh them down with interest instead of paying them (",)


Sent from my iPhone using Thaivisa Connect

Great lets leave them to starve then

[tomwct]

I've lived in Thailand 15 years and this has been go as long as I have lived here. They borrow against their salaries up to 100%.

They buy houses, cars, and sometimes junk. Then they live off of overtime, buy food, clothing, pay utilities, ect. Sometimes

no overtime, so they go to loan sharks and that's when they get in trouble. Teachers are not SMART ENOUGH to manage 

their finances. Ongoing problem.

[pookiki]

31 minutes ago, jonclark said:

Thing that tickles me the most is the 1.4 million teachers - Sheesh that is a lot of teachers considering that the entire student population (under 18) can only be about what 18 million (from a population total of 68 million). 

 

That is an excessively high teacher to student ratio 11: 1 or there about - So why are classes so full with 60+ students???? 

 

I am definitely calling nonsense on those teacher numbers. 

What makes you think all teachers are teaching?   Top heavy with 'administrators'.

[welshissan]

51 minutes ago, robblok said:

What is it with that need to speak English.. its not needed here.. people speak Thai.. ok some expats don't want or can't learn Thai so they want others to learn English but to what benefit of the student ?. Do tell me do they get a higher salary if they speak English ? Or is it just fo the ease of the lazy foreigner that does not want to learn the local language ?

 

Now for jobs in hotels and in the tourist industry I get the need, international trading.. again yes.. but for a cashier.. no need as the majority of clients are THAI.

 

Now why would a biology or a math teacher need to speak English.. i rather have a good math teacher then a bad one that can speak English. English is overrated and is only needed in those jobs where the majority of people they come in contact with speak English not for other jobs just because lazy old foreigners don't want to learn other languages. 

In answer to 1 of your questions yes Thai English teachers earn more, where I live, than ordinary teachers. 

Unfortunately they cannot string a sentence together of more than a few words. 

As for the math teacher 9/2=4+1? Calculator is wrong! 

I teach my children, and grandchildren proper use of English and maths, none of this Thai stuff

[darksidedog]

3 minutes ago, welshissan said:

In answer to 1 of your questions yes Thai English teachers earn more, where I live, than ordinary teachers. 

Unfortunately they cannot string a sentence together of more than a few words. 

As for the math teacher 9/2=4+1? Calculator is wrong! 

I teach my children, and grandchildren proper use of English and maths, none of this Thai stuff

I changed my sons school when he was told he had spelt "giraffe" wrong. The teacher insisted it was "giraffees." He wouldn't back down, even when I pointed out that I was a native English speaker, so to my mind many of them don't deserve a high salary.

[connda]

Clear your debt by taking on more debt?  Now there's some really find circular logic.  

[colinneil]

22 minutes ago, pookiki said:

What makes you think all teachers are teaching?   Top heavy with 'administrators'.

Sorry but i have to disagree with you  about top heavy with administrators.

My wife is a school director, and has to spend a lot of time teaching, as her school is short of teachers