THE REAL COST OF EDUCATION IN INDIA

THE REAL COST OF EDUCATION IN INDIA AND HOW YOU CAN MAKE IT AFFORDABLE FROM FEESBACK

Can you guess, what is the total cost of raising a child from the age of 3 to age of 17 in a private school in India?

a).15 Lakh

b). 20 Lakh

c). 30 Lakh

d). 40 Lakh

What All It Really Cost To Educate A Child In India?

Do you desire your child to begin kindergarten? Do you have a child about to start primary or middle school? You may be the parent of one of the children as mentioned above. So, what should you consider when your child is ready to start school?

But first, let's address the real issues.

How Do Parents Think Regarding Their Child's Education?

The parents' educational philosophy for their children.

Before we discuss the cost of education in India, let us first discuss what parents think about their children's education, particularly in India. We are talking about how seriously parents take their children's education. According to our personal experience, when it comes to their children's education and careers, parents are usually very serious.

Most parents in India prioritize education. Parents would spend less on everything else, but never on their child's education. Parents' challenge to cover their child's educational expenses has evolved into one of the defining features of contemporary middle-class life. These days, this same ordinary cost of education is eating into the average income of parents. Parents all over India are trying to debate what to do about the rising educational expenses that they have to pay in order to ensure their children's future. Parents are torn between sacrificing their financial security and dipping into their savings to fund their children's education. As a result, the parents are in a tough financial situation. Many parents will even go hungry to pay their child's monthly fees.

According to statistical data, well almost one amongst parents who send their children to one of the schools report that the price has induced a financial problem in their residence, and 75% presume that the financial problem is worsening by the day. According to statistics, children's educational expenses account for 15 to 20% of total household income. This is why parents everywhere are working hard to find ways to balance the high cost of their children's education with the limited funds they have. As a result, we can conclude that Indian parents are very concerned about their children's future.

The Actual Education Cost in India

With the current educational model, raising a child in India has always been incredibly expensive for parents. Actual data backs up this belief. As per ET Online studies, the total cost of raising a child from the ages of three to the ages of seventeen in a private Indian school is Rs 30 lakh.

Enrolling a child in school entails paying admission fees, which is a one-time expense. Most schools in Tier1 cities (Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad, and Pune) charge an admission, putting the statistical data class-wise based on surveys

The rising cost of education has made it extremely difficult for families in India to allow their children to pursue their studies. According to a recent NSO report, the state of Indian education is bleak, with more people failing to attend school in recent years.

Here’s a chart representation of the expenditure based on surveys

The chart below depicts the percentage of Indians who have completed a specific level of education. At a time when parents are agitating against school systems demanding higher fees than those recommended by the fee-fixation review panel, they are frequently forced to pay even higher fees for tuition centers, particularly for higher classes. Tuition for primary school ranges from 1.25 lakh to 1.75 lakh. Parents should set aside 5.50 lakh for their children's primary education. The average annual tuition for middle school ranges between 1.6 lakh and 1.8 lakh, with a total cost of nearly 9.5 lakh.

It is recommended to budget approximately 9 lakh for higher classes education in total. Parents usually spend 30,000 on travel each year, but this may change as fuel prices rise. Most middle-class parents are now starting to save for higher education, which is even more costly than high school.

What Is Feesback And Why Do We Need It?

Feesback is a School and Preschool admission platform and fee-paying portal that refunds the fee of a child taking admission to any School or Preschool in India through 100% value coupons for Groceries/ Vacation/ Doctor consultations and other daily needs coupons.

Feesback makes the absolute school search, application, admissions process, and Fee payments more accessible and beneficial for parents and students. Parents have to submit their child's information only once and they can take admission or make payment for the entire School journey of 15 years from Playgroup (PG) to class 12. No matter which you’re in, it all happens under one click at Feesback. Feesback facilitates parents to

• Compare school Fee structure, facilities, teacher: children ratio, and many more criteria to select their school.
• Track payment history, pending payments, and important dates.
• Select daycare and tuition near their location.
• Select dance/arts/sports and all other kids-related activity classes near their location.
• Take admission in a few clicks to any School, preschool, daycare, and all other kids' activity classes. Parents don't have to fill out the forms repeatedly.

It assists you in discovering schools in your city by narrowing your quest to school systems that meet your criteria. It also compares schools and important parameters such as service charges, enrollment date, period, perceptions, and short-listing schools that fit your search. The best thing about our website is that you don't have to fill out your information again and again when applying for different schools; rather, we offer you just one prevalent admission form that will necessitate all of your specifics, and then it's on us; the admission form will inform you regarding your child's eligibility and admission to the shortlisted schools.  Feesback also helps you explore the school, Daycare, tuition, and after-school activity classes which suit your child to its best

 At Feesback, We Make Education affordable.

Yes, You Read It Correctly, We Make Education affordable.

Here's how we do it: we refund the total amount of money in the form of FEES COINS and coupons that you can use in your daily life, and the best part is that the money isn't deducted or has any other metrics to follow; in other words, for every rupee spent, equivalent School fee is added to your FEES COINS.

• Let’s say you spend Rs.10,000 fee that will be submitted to the school through our portal then we have 10,000 FEES COINS to offer which you can use in the form of FEES COINS to redeem any offer of your choice from our list, be it a package of vacation, a Daycare for your child, or a grocery subscription.

As we discussed previously how challenging and sometimes difficult it can be to afford education, this is the step we have taken to make the process a little easier for parents as well as students. It is not in our hands to change the entire education system or the fee structure that it offers, so we took the initiative which is supportive in all possible ways and will help every kind of family most effectively as the offers can be redeemed through the amount of refunded money in the form of FEES COINS. These coins can then be used to redeem any offer available in our section or to buy yourself a gym membership, grocery subscription, tuition classes for your child, guitar classes, and many more which you can check in our FREE PACKAGE section.

The FREE PACKAGES categories will be expanded to include FEES COINS. FEES Coins will be used to unlock coupons. To know more about this visit our site Feesback or click on the link to our next blog.