Need expert advice?
Feel like you need detailed guidance for further study options?
Parents always want the best for their children. No matter if it's education or lifestyle. They always want to enroll their child in a school that provides high-class education which comes under their budget line. But it comes to their child’s education, two situations frightened them most - one is while getting their child admitted to the school, and the second one when the academic year ends and schools expect them to squeeze their pockets to keep them there. Education is a necessity but it is being converted into luxury which can be afforded by semi-rich or rich people only. The yawning gap between the standards of education will not bridge the gap if the developed countries keep on spending on education at this momentum.
A study in 2014 states that Indian parents have to spend half of their annual income on their child’s academic education every year. It also stated that they spend around 18 lakhs to 20 lakhs rupees on average on the complete schooling of one child only. The phrase “education is an investment with high returns” is literally proved to be faithful to the current education fee trends.
Yes, there are many government schools running in every state still why parents give their preference to private schools? Have you ever wondered about that? It has been observed that learning outcomes in private schools in various states are much better than the government schools in terms of quality standards, environment, and extracurricular activities also. Despite government funding, these schools always remain sluggish as compared to the private ones. After that, private schools are also recognized for name and fame in the educational industry.
How private schools add up their cost?
Private schools generally ask for donations for admissions. These donations are highly driven by their notoriety. In Delhi, the range of these donations lies between 3 lakh to 8 lakh. Because of some consistency problems in government schools, urban households have made a straightforward decision of sending their child to a private school irrespective of its fee structure.
The tuition fees are skyrocketing these days. Nowadays, Some of the schools charge primary education as high as sometimes it is pricier than college studies.
Even after studying from an exceptional school, students run behind private coachings, which again are very costlier.
These schools instruct children to bring items or things for activities. And these activities are conducted several times a month. This is also an unavoidable expense for parents.
How to manage these rising costs?
Many states have tried to enforce legislation on students but that mostly resulted in false practices in the accounts of the school. This leads to nothing but financial mismanagement in the educational sector. If there is any hope then it relies on compelling schools to breakdown each and every fee and regular audits by the governmental bodies. There should be an upper limit being put on the fees to regulate how much fees can a school can charge from a particular student.