Price

The decision of Thai students to study at a home institution as opposed to a prestigious institution overseas is not as straightforward as was originally thought at the inception of this research project. Cost is an important factor in shaping Thai student selection of a graduate program, although this is a much more significant consideration for international students at Thai universities as international students are generally pay higher fees. International students were found to have more thoroughly considered the ‘price’ issue compared to Thai students even though graduate tuition fees are low by international standards. As one European student explained,

I take (program information) from Kasetsart, Bangkok university and from here (Institution A) and Sasin, but Sasin was too expensive for me and Kasetsart was about 100,000 (Baht) more expensive than this… (Institution A).

He told how much he will have to pay for an MBA program at institution A,

A similar comment was made by a male Chinese student at the same institution,

compared with the other countries such as America, New Zealand, the student’s fee here (Institution A) is cheaper than…(Western English-speaking countries)…staying in Bangkok is cheaper than the other countries (L6)

The Thai and non-Thai students commented that it is understandable that the quality of international master programs in Thailand is uneven. When questioned, they were able to discriminate between quality and price of the program among different institutions. Although their institutions’ reputation was not ranked highly by students, they agreed that both institutions had the ‘prestigious’ image and offered masters degrees based on Western curricula that most students desired to have on their transcripts. These perceptions were considered as sufficient differentiation to provide a worthwhile international education experience and identifiable credential to attract students to invest.

Fees had a significant influence on students’ choices of where to study, especially in the case of international students. Non-Thai students were not only concerned with the fees but also with the cost of living overseas. They were aware that they could obtain a better quality education in Western countries but due to the high cost of living in the West, they chose to obtain the international degree from a neighbouring country. A Chinese student gave his reason for his choice that,

I’m satisfied with the program fee but not the program quality. This tuition fee is low compared to other countries. I don’t have enough money to study in America. (N 10)

Another Chinese student also further commented that:

compared with the other countries such as America, New Zealand, the student’s fee is cheaper …staying in Bangkok is cheaper than the other countries. (L6)

According to the above comment, the student was looking for another option to obtain the international degree with low cost. This is indicative of an international trend towards lower cost higher education offered in major student markets.

Results showed that Thai students did not consider ‘fee’ as an important factor for their program choice as they ranked the factor on ‘comparatively cheap fee to study’ (mean = 3.4) in the middle among other deciding factors for the program (see appendix 2). Survey respondents were comparatively young, more than half (55 per cent) are under 25 years old, and three quarters of them reported that their families were their sole financial support. This revealed that Thai families invest in their children’s education. However, Thai and non-Thai

students gave different views in interview sessions. Students are becoming much more concerned about value for money and program quality when they decide where and which institution to invest in a Masters qualification. They want to be assured about the high quality of the program they have paid for.

Price sensitivity is increasingly shaping Thai student choices and this might well be a consequence of the 1997 financial crisis and the generally lower value of the Thai baht. Many Thai students chose to do English-medium business masters degree program in Thailand as a substitution for masters qualification from native English-speaking countries, due to the difference in fees. One Thai female student who originally wanted to do a masters degree in international marketing in the UK changed her mind and chose the cheaper program available in Bangkok. She explained:

I have been thinking to go overseas…yes, England. Then, when I was considering the exchange rate in the long term, I changed my mind. I’d better play safe…better to study here (Thailand). (S25) (my translation)

In addition to the lower fees, Thai students decided that it was much cheaper to stay in Thailand than pay for high cost of living in Australia. Also, in Thailand they could continue working while studying.

Access to English-medium graduate programs is partly determined by ability to pay and as might be expected it has become a niche market. Both Institution A and B are the most popular ones in the current Thai market for business studies such as business management, marketing and business administration at a masters degree level and they charge relatively high fees. However, all students were quite clear about the amount of money they have paid for their fees compared to a quality level they will obtain from the program. Students commented generally that Institution B is lower standard than Institution A (most students at Institution B had prior experiences studying at Institution A at undergraduate level). All students understand that both Institution A and B are ranking in the middle while Sasin (Chulalongkorn University) & Thammasat University are at the top. Those top ranks require higher standard of entry requirements, such as English score, greater work experience, GMAT and higher profile of student applicants. However, they were satisfied with the program quality in general although they suggested possible improvements.