The opening of the new academic year 2017 will see parents paying over 50 billion baht for their children to schools.

The huge sum of money is the record high in many years, according to survey by the Center for Economic and Business Forecasting, the research arm of the Thai Chamber of Commerce (UTCC).

According to the center, the new academic year starts next week.

The center director Dr Thanawat Phonwichai said the survey on consumers' spending behavior before the start of new academic year showed that the parents were spending more than 50 billion baht, 2.14% higher when compared with the same period last year.

The spending was high because parents earned more income enabling them to spend more on their children's schooling.

The survey also showed that prices of learning equipment and materials are increasing, thus raising parents' spending reaching record high.

He said an average spending for a parent stood at 12,295 baht. This was broken down to 42.8% for tuition fees and 28.2% for donations to schools.

The survey showed that the spending on school uniforms, shoes and learning equipment and materials were only small portions or 5-6% of the overall expenditures.

But Dr Thanawat said 53% of parents could hardly afford not the spending and therefore go to pawnshops and other financial institutions.

The survey found that tuition costs were 10,704 baht per primary school student, 9,740 baht per lower secondary school student, 11,064 baht per upper secondary school student, and 14,814 baht per university student.

With the high tuition expenditures, some parents still see special tuition classes are necessary for their children although such payment will worsen their financial burden.

Source: Thai Public Broadcasting Service (Thai PBS)

By tladmin