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40 per cent parents have difficulty in paying school fees after lockdown, 60 per cent installment system is desired

Education Survey:  40 per cent parents have difficulty in paying school fees after lockdown, 60 per cent installment system is desired

Fintech Startup Credin conducted a survey of 15,000 parents in Ahmedabad
70% of parents do not want to send their children to school until Corona is gone

Cavid-19 cases are on the rise and there are uncertainties about when schools will resume on a regular basis. Parents are waiting for instructions from the authorities regarding school fees for the new academic year. About 40 percent of parents are having difficulty paying school fees after a lockdown this year. As businesses and jobs have been affected by Kovid, the parent community is currently focusing more on savings and seeking easier installment facilities to pay fees.

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As many as 30,000 parents were invited to take part in the
survey. Fintech, a government-recognized Fintech company, runs a credit education program. This program helps parents to pay school fees on time in which they can repay it in installments at zero percent interest. About 30,000 parents were invited to take part in the survey, with 50 per cent answering various questions about their financial status and other financial matters.

The image is symbolic

Fifty-five per cent of parents believe that it is necessary to have cash in hand in view of the current uncertainty and that is why they are delaying the payment of school fees, according to the survey. According to 68 per cent of parents, the epidemic has affected their income and the situation may take time to return to normal. It’s not that people just don’t want to pay fees. 60 per cent parents are seeking installment facility to pay school fees. In the hope of good news, 40 per cent parents are delaying the payment of school fees as they hope to get a discount in fees from the school or the government.

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Will have the option to pay haptethi fee without interest to the parents of
the Ascension School for Children and jhebara School for Children executive director Manan Choksi said, had received many representations from us guardians of last year are paying them a fee to be allowed to delay or additional discounts. We have helped parents as much as possible in cases that seem real. Due to the epidemic, 25 per cent fees have been waived following the government's suggestion. Managing fixed costs in this situation is challenging for any school. The credit education program will give our parents the option to pay interest-free installment fees and the school will also receive timely payments to manage expenses.

The image is symbolic

70 per cent parents do not want to send their children to school at present The
survey also found out about the changed mentality of people living under the fear of uncertainty. Fifty-one per cent believe that Covid-19 will affect normal life this year as well, so schools should only provide online education. 70% of parents do not want to send their children to school until Corona is gone. Fifty-two per cent of parents say the epidemic has affected their income and it will take time for the situation to return.

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Schools need fees to manage fixed costs, digital learning platforms
Credin provides easy installment facility to parents to ease the financial burden of school fees. Once a parent has registered under the CredinEducation program, Credin pays the student a full year of student fees to the school from the parent as required by the school. Parents return this fee to Credin in easy installments at zero percent interest rate. In this regard, Birju Naik, co-founder of CREDIN, said, "Through the CREDINE education program, we have helped parents to pay school fees easily and this has had many positive effects." The school needs fees to manage fixed costs and digital learning platforms. With the credit education program we create a favorable situation for both school and parents.

The image is symbolic

Credin was founded in 2019. Credin
is a leading fintech company recognized by DPIIT, Government of India, offering the latest digital lending solutions. Credin was founded in 2019 by Birju Nayak and Rupesh Bishnoi, who have worked at Citibank, and has now emerged as a leading retail lending platform in Gujarat.

Read in Gujarati news 

Credin, eager to find new solutions for the benefit of school parents, we integrate technology to offer the right financing products for those who really need affordable financing. The Credit Education Program aims to enhance the education ecosystem with the help of credit and technology. We are getting very good response from partner schools. These schools are more far-sighted, tech-savvy, concerned for parents and therefore eager to find new solutions in the best interest of parents, said Rupesh Bishnoi, co-founder of CREDIN.

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