By The Nation
“I owed Bt1.2 million to the Nakhon Ratchasima Teacher Savings Cooperative and Bt1.5 million to the Funeral Help for Teachers/Educational Personnel from Friends loan project,” the retiree disclosed.
He initially did not expect the funeral help loan project to become a big burden because at the time he applied for assistance, the interest rate was only 3 per cent per annum.
“But now the interest rate has increased to 8 per cent,” he complained.
So even after retiring as a teacher, Somjit finds himself compelled to work to cover his living expenses. He now runs a small grocery shop and also doubles up as a stationery dealer.
Kanokpij Thanyakij, a 45-year-old teacher, said she needed to earn more than Bt60,000 a month to repay not just her own but also her parents’ debts on top of living expenses.
“My salary is Bt45,000 a month only. So, I’m now doing some farming for extra income and also preparing my own lunch so that I don’t have to buy any,” she said.