Bengaluru: Budget private schools to offer flexible fee payment models

Reshma Ravishanker From giving a rebate for all one-time fee payments to allowing parents the option of monthly installments, budget private schools have tweaked their fee payment options, to ensure their fee is paid entirely. Cash strapped from the two years of pandemic induced lockdowns and non-clearance of dues by parents who have been affected financially, budget private schools are now looking at ways to be more accommodative of parents while ensuring there are no fee backlogs. Many, in a bid to avoid fee defaulting by parents have announced discounts on all upfront payments. Kavita, headmistress, Gnana Bindu Vidyalaya said, “We are offering a 5-7% discount on the fee to parents who pay the fee in one go. If parents have two children studying in our school, we are offering a 7% discount. The idea is to ensure that the fee is paid upfront and there is no delay. This year, we are also counselling parents to admit their children only if they can pay fees entirely. Parents must consider the distress the child will go through if the parent is unable to pay the fee and asked to move schools in the middle of the academic year. We don’t want any child to suffer.” Meanwhile, some schools have also begun allowing multiple installments of fee payment while also offering discounts on fee when paid at the start of the year. Venkatesh K, principal, Ashwini Public School said that the school’s fee has been reduced to what it was in 2015-16. “Three installments are being allowed now. We are also contemplating a 5,000 rupees discount for all parents who pay at the start entirely. This will also give us an assurance and ensure smooth functioning of the school. It assures financial stability,” he added. To allow parents who have suffered job losses and taken pay cuts over the past two years, some schools are considering monthly installments. “We have not raised the fee this academic year. Some parents are requesting us to pay a fee in five installments. We are allowing that. In some dire situations, even monthly installments are also being accepted to allow children to continue,” explained Gnanamurthy, principal, Nandini Public School. Also read: NISA delegation meets Venkaiah Naidu for budget schools’ demands Facebook Twitter LinkedIn WhatsApp Posted in Magazine