Parents are once again turning to pawnshops to raise money for children's school uniforms, text books and other necessities ahead of the new academic year, which begins on Monday.
Pawnshops across the country from Mae Hong Son to Narathiwat reported a surge in customers this week.
There were queues at some state-run pawnshops on Thursday, which will close for the Royal Ploughing Ceremony on Friday, as customers hocked goods to pay for last minute purchases over the weekend before schools resume.
In Chai Nat, the director of the pawnshop operated by Chai Nat Municipality, Nanthiya Pongthong, hastened to assure clients there was enough cash at hand for their needs.
Some schools have already opened, starting last Monday, and the rest follow this coming Monday. For students the new school year brings the excitement of new classes and new things to learn. For parents, it means extra expense - new uniforms, textbooks, other school gear and payments.
Pawnshops have increased their cash holdings to cater for demand and some also offer discounted interest rates to ease the burden on parents.
Waraporn Chanpen, a deputy director of the BMA pawnshop office, said all 21 pawnshops run by City Hall are offering customers a monthly interest rate of 0.50%, with loans capped at 70,000 baht, until the end of this month. This is a sharp drop on normal rates, set at 1% and 1.25%.
BMA-run pawnshops have also increased their back-to-school cash reserve to 100 million baht, up from 86 million baht last year.
Pawnshops outside the capital run by local governments under the Interior Ministry are offering an even cheaper rate of 0.25%.
Privately owned pawnshops charge higher interest.
The Kasikorn Research Centre estimated parents in Greater Bangkok will need about 27 billion baht in cash to meet school costs this year, a 4% increase from a year ago.