Parents, proprietors seek option to tackle school fees’ challenges

The beginning of any given year for parents in Nigeria is usually a hectic period. Not only do parents battle with loads of pressing financial needs, they must contend with payment of school fees for their children to continue their academic activity across the primary, secondary and tertiary levels of education.

Stakeholders observe that payment of school fees is one peculiar challenge that confronts not a few parents in Nigeria. As schools resume, no doubt, many parents are wondering how to go about paying their children/wards’ school fees, aside taking care of other necessities.

A cross section of parents, school owners and stakeholders in separate interviews with Businessday observe that going into an election year and considering the state of the economy, indeed these are trying times for them.

While some parents are resorting to the various financial loan facilities offered by banks, others appeal to school owners for staggered payment options.

Ajoke Popoola, proprietor, Martos International School, Lagos, says in her years of experience as a school owner, accessing loans from Nigerian banks is an option she always sells to parents.

Popoola says Gtbank, First Bank, Zenith Bank, Access Bank and Diamond Bank yearly have products targeted at helping parents and guardians pay school fees of their wards in private schools.

She says the economy situation is not making things easy for both school owners and parents alike. “For parents who adopt this bank loan option, the result has been fantastic, as it works for me. It enables parents, especially those with more than two children, to pay according to their financial abilities.”

She however observes that it not one size fit all in the situation for parents, adding that her school management addresses parents according to their financial status. So, those that cannot pay school fees at once are made to enter into agreement with the school, but failure to keep to the agreement before the term ends may attract stiff penalty such as withholding the child’s result or resorting to the law.

Chijioke Amadi, a concerned parent, says with increased pressure on family budgets owing to the economic situation, he has already entered an arrangement with the school management where his children attend for instalments payment plan as this will help ease school fees burden.

The option of staggered payment will go a long way to help him survive the current challenge, he says, stressing that failure by private school managers to help may force parents unable to pay the fees to seek schools with lesser fees or even try public schools.

Amadi says the worsening economic situation has made it difficult for him and a lot of parents to keep pace with school fees payment, given that there are other needs contending with a meagre funds at every given time.

According to Amadi, “The option open to me is to negotiate with the school management to allow me stagger payment as at the moment, full payment is not possible as things stand now.

Tonile Wahab, a father of three, is quick to point out that purchasing power has dwindled consistently and spending every naira has come with serious deliberations and considerations within families.

Wahab opines that the month of January each year is always challenging, adding that the forthcoming election has even made things tougher.

To him, “the year is just unfolding. Nobody knows what will happen between now and February when the election will hold.”

Since it is the begining of the year, he has informed the school management of his children ‘ school to bear with him as he runs around to see how to raise the school fees for the academic session.