The majority of parents don't have enough money for the new semester

More than half of the capital's parents are struggling financially as their children head back to school, according to the Bangkok University's Research Institute.

Of 1,073 parents in Bangkok surveyed last week, 53.5 per cent admitted they didn't have enough money to cover back-to-school expenses.

Loan sharks circle

Many said they would have to turn to friends or relatives for help. Others were considering borrowing money from loan sharks.

The survey found that the economic downturn is a major factor in parents' money worries. Of those polled, 21.7 per cent say they are facing a financially tough time ahead of the new semester for the first time.

Reduced income and a jump in the price of learning materials are the main reasons the parents say they are running out of money.

"Nearly half say that education expenses have risen when compared with last year," the survey says.

The findings seem to reflect what parents across the country are facing.

In Si Sa Ket, the provincial pawn office has revealed that their business peaks during the back-to-school season.

"A lot of people pawn their valuables at this time of the year," the office's manager Vee-rasak Pannanua says. "After a few months when they have earned some money, they show up to redeem their items."

His office, he discloses, needs to prepare Bt160 million in funds to finance its service at this time of the year.

"People come here to pawn their gold ornaments, electrical appliances and silk," Veerasak says.

Speaking on condition of anonymity, a parent of two secondary school kids admits that she drops into the pawn office ahead of every new semester.

"Although the government waives tuition fees and provides some subsidies for textbooks and uniforms, there are other educational expense to be paid," she says.