Cooperative proposes government solution to teacher debt. Negotiate with financial institutions to reduce interest by no more than 4.5 percent, set a loan ceiling of no more than 70% of income, no reduction in interest, no deductions from salary payments, chasing each other down.
Mr. Narin Chamnandu, Director of Kanchananukroh School As President of the Secondary School Administrators Association of Thailand (S.B.M.T.), Chairman of the Kanchanaburi Teachers Savings Cooperative Revealed to the editors of Radio News, Thai News Agency, that the Kanchanaburi Teachers Savings Cooperative takes care of over 14,000 million baht. The cooperative is a major creditor of teachers, 64 percent of all debts, interest is calculated at 5.6 percent. Government Savings Bank has 28 percent of teachers in debt, interest is charged. 6.9 percent Krung Thai Bank Teachers are in debt at 4 percent, interest is charged at 7.12 percent, and GH Bank has teachers in debt at 4 percent, interest is charged at 6.4 percent.
For teacher debt, it must be separated into different types, such as debt from home loans, land purchases, student loans from student loans, loans to take care of the family. There is also debt that is not incurred by teachers, namely debt that arises from guarantees. For example, guaranteeing a loan to buy a tractor for a villager. But problematic debt is the debt of people who lack financial discipline. Extravagant spending, gambling, lottery, and illegal debt What the government is asking for help are teachers who are in debt due to lack of financial discipline, of which there are more than 400,000.
Proposals to solve the teacher debt problem include:
Government and Ministry of Education Must host teacher debt consolidation Pay in installments from a single financial institution.
Make an agreement with financial institutions and cooperatives to set the ceiling on interest rates for teacher welfare loans to not exceed 4.5%, not so high that it creates too much of a burden on teachers.
Set a ceiling on your ability to borrow no more than 70% of your income so that another 30% is enough to cover living expenses.
Ministry of Education Must call a financial institution Request interest reduction for groups with excess debt 70% of salary Use the offer if you agree to reduce the interest. Will proceed with deducting salary in installments for loan payments as usual. But if the interest rate is not reduced Teachers must send the money to the financial institution themselves. without deducting through salary Let the bank pursue collection with the debtor itself.
Mr. Narin Chamnandu stated that if the government and the Ministry of Education Take action according to this proposal. It is believed that it can help solve the problem of teacher debt. Reduce increasing debt And teachers can afford to pay off more debt. .-Thai News Agency
Source: Thai News Agency