School Opening Season Strains Families: Residents Pawn TVs, Refrigerators, and Washing Machines to Make Ends Meet
Families in Phitsanulok are pawning household appliances and electronics to cover back-to-school costs, with pawn shops receiving 100-300 items daily. The municipality has reduced interest rates on collateral loans through June to ease fina
As the school term approaches, residents are flocking to pawn shops with household items including televisions, refrigerators, and washing machines to raise cash for back-to-school expenses. Pawn shop managers report receiving approximately 300 items daily for collateral loans. May 6, 2026 — Sirichin Hanjpitakpong, Mayor of Phitsanulok Municipality, revealed that the municipality's pawn shops are experiencing a surge in activity ahead of the new academic term. The municipality has allocated 137 million baht in revolving capital to its two pawn shop branches and introduced reduced interest rates to support families during the back-to-school period.
The municipality is offering promotional interest rates from May 1 to June 30. Loans up to 5,000 baht carry 0.25% monthly interest for the first three months, then 0.50% thereafter. Loans between 5,000 and 10,000 baht are charged 0.75% monthly for the first three months, then 1% per month afterward.
Somkhid Kitjahkairt, manager of Phitsanulok Municipality Pawn Shop No. 1, reported that the branch receives 100 to 300 items daily from residents preparing for school expenses. Items include electrical appliances such as televisions, refrigerators, washing machines, agricultural machinery, construction tools, granite mortars, and brass items. Gold is particularly popular, with the pawn shop offering valuations at up to 80% of the current daily gold price. The initiative aims to ease the financial burden on parents and families during the school opening period.
