Teachers drowning in debt, PM reminded

Ravee said some 400,000 teachers were in debt because of the Cremation Welfare Fund, a project designed to aid school personnel in need, and it was also affecting 45 million students and their parents.
“The debt problem is at a critical level,” he said. “Teachers’ houses and assets have been confiscated because they were unable to repay loans, leaving some stressed out and sick and, in the three worst cases, committing suicide.”
Ravee said the Administrative Court had ordered 70 per cent of teachers’ pay garnisheed to pay off their debts, placing a huge burden on retired teachers whose pension is less than the last salary they received.
“The Government Savings Bank is even confiscating the assets of the debtors’ guarantors, even when they have enough money to repay the debts.
“I ask the prime minister to take care of this problem urgently by setting up a committee of relevant agencies.”