The Expansion of Income and Entry into Credit Consumption in the Era of High Interest Rates of Civil Servant Teachers Before the Asian Financial Crisis

Abstract

This article aimed to explain the conditions leading to the debt problems of teachers before the Asian Financial Crisis, which was part of the long-standing household debt problem. On the contrary was a career that received policy support to create a good quality of life through the teacher savings cooperative system and various welfare product projects. Debt among teachers arose from teachers' behavior. However, it could not be overlooked that these debts all arose from mechanisms within the career system that supported teachers with opportunities and advantages in conveniently consuming credit from financial institutions because it was a stable career with a fixed income. This made government teachers a dream career for those who wanted stability in their careers from income, welfare, and projects to support quality of life. In addition, the teaching profession had a large number and spread in every area of the country. It was regularly taken care of by the government when problems arose. The problem of teacher debt had therefore become something that was always discussed to find ways to solve it. Understanding the root causes of debt problems was therefore important to study. To appropriately understand the formation of debt problems, which was a personal financial burden, to the problem of teacher debt that had never faded from society's awareness.