As the cost of schooling skyrockets, parents brace themselves for a financial storm, with tuition fees soaring to unprecedented levels. The latest revelation from the University of the Thai Chamber of Commerce (UTCC) uncovered the staggering truth behind education expenses in 2024.
According to Thanawan Polwichai, advisory chairman of the UTCC’s Centre for Economic and Business Forecast, the latest survey on the cost of back to school 2024 for guardians paints a bleak picture. With 1,365 respondents nationwide, the survey conducted from May 1 to 6 reveals a daunting 43.1% increase in back-to-school expenses compared to the previous year.
The total expenditure amounts to a staggering 60.322 billion baht, marking a 4.2% rise from last year and setting a grim record in the UTCC’s 15-year history of annual surveys. Alarmingly, nearly 60% of respondents reported spending more on tuition fees, with the average cost surging to 25,322 baht, up from last year’s 19,507 baht. Shockingly, over 45% of guardians find themselves struggling to foot the bill, resorting to desperate measures such as credit cards, pawning valuables, or even turning to loan sharks for financial aid.
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